Monson Savings Bank Offers Homebuying Assistance for People of Color through FHLBank Boston's Lift Up Homeownership Program
Monson Savings Bank has recently announced that they will once again be a participating partner in the Lift Up Homeownership program, a Federal Home Loan Bank of Boston program designed to provide financial assistance to people of color purchasing their first home.
“Monson Savings Bank is enthusiastic about serving and supporting all consumers in our communities. It is our goal to assist everyone in accomplishing their financial goals. For many, homeownership can feel out of reach, but we work to make it possible,” said Michael Rouette, Executive Vice President and COO of Monson Savings Bank. “We were thrilled when we heard about the Lift Up Homeownership program. We knew immediately it was a program we wanted to participate in to provide people in our communities an increased chance to purchase a home.”
Through Lift Up Homeownership (LUH), people of color earning up to 120% of the area median income are eligible to receive up to $50,000 in down-payment and closing cost assistance. The funds provided through LUH are available on a first-come, first-served basis for first time homebuyers purchasing a home in New England. Homebuyers are required to complete a homebuyer counseling program prior to receiving LUH funds. FHLBank Boston defines a person of color as an individual that self-identifies as Black, American Indian/Alaska Native, Hispanic, Asian, and Native Hawaiian/Pacific Islander. Those who apply for the program will be required to self-certify their race or ethnicity by completing a self-certification form provided by FHLBank Boston. Learn more: www.monsonsavings.bank/Lift-Up-Homeownership-Program.html
“Homeownership is an amazing way for people to immediately improve their family’s current living circumstances and build generational wealth. It is my passion to help families purchase their first home and I look forward to helping community members of color achieve their homeownership goals,” beamed Terry Poloski, Vice President, Residential Loan Officer at Monson Savings Bank.
To learn more about applying for homebuying assistance through the Lift Up Homeownership program please contact Terry Poloski, Vice President, Residential Loan Officer, NMLS #23405, by calling 413-267-1232 or emailing [email protected].
To learn more about other residential and personal lending products Monson Savings Bank offers, please visit: www.monsonsavings.bank/borrow/personal-loans.
