Grants up to $15,000 available to eligible borrowers

MANCHESTER, NH (March 18, 2019) — St. Mary’s Bank, the nation’s first credit union, is pleased to announce that it will make down-payment assistance grants of up to $15,000 available to eligible first-time homebuyers starting this spring. The grants can be used for down-payment and closing costs as well as homebuyer counseling and rehabilitation assistance.

“Helping first-time homebuyers succeed is a priority at St. Mary’s Bank,” said Karen Mayrand, St. Mary’s Bank Senior Vice President and Director of Residential Lending. “Down-payment assistance is just one of the many ways we can help. And it is a big one, because even a little bit of extra financial support can change everything, from moving up from a condo to a single family home or getting into a home a lot sooner than you thought.”

To qualify for down-payment assistance, borrower household income must be at or below 80 percent of the area median income based on property location.

Wondering if you qualify? Mayrand encourages anyone interested to find out today, as funds are available on a first-come, first-served basis. For more information and to apply, contact The Mortgage Center at St. Mary’s Bank at 1-888-705-9596 or www.stmarysbank.com/mortgage.

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

About St. Mary’s Bank
Founded in Manchester, New Hampshire, in 1908, St. Mary’s Bank is the first credit union in the nation. It makes progressive financial products and services available and affordable to consumers and businesses. Members enjoy excellent service, competitive rates, low fees, and state-of-the-art banking services. Headquartered in Manchester, New Hampshire, St. Mary’s Bank has locations in Manchester, Hudson, Londonderry, Milford, and Nashua, with mortgage centers in Concord and Nashua. For more information, call 1-888-786-2791 or visit www.stmarysbank.com.

About FHLB Boston
The Federal Home Loan Bank of Boston is a cooperatively owned wholesale bank for housing finance in the six New England states. Its mission is to provide highly reliable wholesale funding and liquidity to its member financial institutions in New England. The Bank also develops and delivers competitively priced financial products, services, and expertise that support housing finance, community development, and economic growth, including programs targeted to lower-income households.

Resources
The Mortgage Center at St. Mary's Bank
Down-payment Assistance information