St. Mary’s Bank offers down payment aid to make homeownership a reality

MANCHESTER – St. Mary’s Bank knows that the down payment hurdle can be difficult to get over, especially for first-time homebuyers. Down payment assistance funds lower that hurdle and help make homeownership attainable.

Eligible buyers can get up to $11,000 to purchase homes they will occupy as their primary residences. The funds can be used for down payments and closing costs, reimbursement of homebuyer counseling costs, or rehabilitation costs associated with acquisition.

Applicants with household income at or below 80 percent of the HUD median income for the area, based on property location, are eligible for the program.

“As a member-owned credit union, the borrower’s homeownership goal is our focus,” explains Karen Mayrand, Senior Vice President, Director of Residential Lending at St. Mary’s Bank. “I highly encourage any prospective first-time homebuyer to talk to us and find out if they qualify.”

Funds are available now on a first-come, first-served basis.

To see if you qualify for down payment assistance, contact the Mortgage Center at St. Mary’s Bank at 1-888-705-9596 or www.stmarysbank.com/mortgage today.

St. Mary’s Bank receives down payment assistance funds through the Equity Builder Program at Federal Home Loan Bank of Boston.