GSB Launches Annual “Buy in July” Mortgage Promotion with Down Payment Assistance
New incentives and down payment assistance aim to make homeownership more attainable across the region
Greenfield Savings Bank (GSB) today announced the launch of its annual “Buy in July” mortgage promotion, offering a combination of interest rate incentives, closing cost savings, and — for the first time — a down payment assistance program designed to expand access to homeownership.
This year’s promotion introduces GSB’s new Down Payment Assistance Program, which provides eligible borrowers with up to $25,000 to use toward a down payment or closing costs, along with an additional interest rate reduction. The assistance carries no interest, and repayment is deferred until the sale, transfer, or maturity of the loan. The program is available across all GSB mortgage products, including the Buy in July special.
“This year’s Buy in July promotion reflects our ongoing commitment to making homeownership more accessible across our communities,” said Peter Albero, President and CEO of Greenfield Savings Bank. “By introducing down payment assistance into the program for the first time, we’re helping more individuals and families overcome one of the biggest barriers to buying a home—the upfront costs.”
The Buy in July mortgage special features an adjustable-rate mortgage, fixed for the first seven years and adjusted annually thereafter. Additional benefits include a $750 closing cost credit, no application fee, no points, and interest rate protection, allowing borrowers to request a rate reduction if market rates decline in the future.
Borrowers may also qualify for interest rate reductions of:
- 0.50% for first-time homebuyers through the Buy in July special
- 0.25% for repeat homebuyers
- An additional 0.125% reduction for borrowers participating in qualifying down payment assistance programs and setting up automatic loan payments from a GSB checking account
According to Cassandra Morrey, SVP, Senior Residential Lending Officer & Fair Lending Officer at GSB, the program is designed to meet borrowers where they are in today’s market. “We know that affordability is top of mind, especially for first-time buyers,” said Morrey. “Combining rate reductions, closing cost savings, and now meaningful down payment assistance allows us to provide more flexible solutions and help buyers move forward with confidence.”
To introduce the program to local industry partners, GSB hosted a pre-launch event on June 26 at the Roosevelt Room at Union Station in Northampton, bringing together real estate agents, attorneys, and other housing professionals. The event provided an overview of the program’s features and was well received by attendees.
The Buy in July promotion is available for conventional, owner-occupied purchase loans on one- to four-family homes and condominiums. Applications must be submitted by July 31, 2026, with closings completed by September 30, 2026. Additional terms, conditions, and eligibility requirements apply.
For more information, visit https://www.greenfieldsavings.com/buy-in-july
About Greenfield Savings Bank
Founded in 1869, Greenfield Savings Bank has more than 200 employees and offices and ATMs throughout Franklin and Hampshire counties in Western Massachusetts. Its branches are located in Greenfield, Amherst, Conway, Easthampton, Hadley, Northampton, Shelburne Falls, South Deerfield, and Turners Falls. The bank operates the only trust and investment management company headquartered in Franklin County. Total assets under management, including both the bank and the investment management company, exceed $1.4 billion. Greenfield Savings Bank is a Member FDIC and Member DIF and Equal Housing Lender. For more information, visit greenfieldsavings.com.