GSB Extends Down Payment Assistance Program
New initiative creates access to homeownership through up to $25,000 in assistance for eligible borrowers
Greenfield Savings Bank has extended its new Down Payment Assistance Program, launched for the first time in July, through Sept. 30 to help make homeownership more accessible in Western Massachusetts.
The initiative makes up to $25,000 available to eligible borrowers for a down payment on a home and provides an interest rate reduction with automatic payment from a Greenfield Savings Bank checking account and a $750 closing cost credit. There is no application fee, and there are no points.
“We offer customers a lifetime of banking solutions, and we know that obtaining a mortgage is a milestone made more difficult by the rising cost of housing,” said bank President and CEO Peter Albero. “We want to support people in the regions we serve to help make the dream of owning a home a reality.”
The offer applies to eligible Greenfield Savings Bank residential mortgage products, excluding MassHousing loans.
Additional terms, conditions and eligibility requirements apply.
“Greenfield Savings Bank has an ongoing commitment to making homeownership more accessible across our communities,” Albero said.
Cassandra Morrey, senior vice president of Residential Lending, said the Down Payment Assistance program is designed to help borrowers with affordability and upfront costs and is particularly helpful to first-time home buyers.
She added, “For many buyers, the upfront costs of purchasing a home can be the biggest barrier. This program is designed to help qualified borrowers bridge that gap toward home ownership.”
Applications must be submitted by Sept. 30.
For additional terms, conditions and eligibility requirements, visit greenfieldsavings.com, contact a Greenfield Savings Bank loan officer at 413-775-8200 or visit your nearest GSB branch.