| TOP STORIES AROUND THE COUNTY |
Legacy Banks Offers First-Time Homebuyer Assistance Loan09:27AM / Tuesday, August 11, 2009
PITTSFIELD, Mass. – Legacy Banks is offering a First-time Homebuyer Equity Builder Program for qualifying customers in need of financial assistance to purchase a home. The program, available as a result of Legacy Banks’ participation in the Federal Home Loan Bank of Boston Equity Builder Program, is available to first-time borrowers who have not had an ownership interest in a property for the past three years.
Among the many benefits of this program is that Legacy Banks provides up to 5% of the sales price for down payment assistance. Additionally, all bank-related fees are waived, including the application fee, underwriting fee and loan origination fee, and Legacy pays any third-party closing costs.
Legacy is offering its 5/1 Adjustable Rate Mortgage product through this program, the posted rate for which will be discounted by .25% APR for participants. Those enrolled in the program will not owe their first payment until 30-days after the closing, eliminating prepaid interest due at closing.
“There has never been a better time for first-time home buyers,” said Jackie McNinch, Vice President of Consumer Lending. “This, in addition to the new federal tax incentive and our very competitive first-time homebuyer loan programs, create the perfect opportunity for consumers to reach for the dream of homeownership,” she added.
Eligible properties include single-family, one to four family properties, town homes, duplexes, cooperatives and condominiums. The total household income must be at or below 80% of the area median income level, adjusted for family size, for interested applicants. For more information, about the First-Time Homebuyer Equity Builder Program, call 800-292-6634. |
Your Comments
iBerkshires.com welcomes critical, respectful dialogue. Name-calling, personal attacks, libel, slander or foul language is not allowed. All comments are reviewed before posting and will be deleted or edited as necessary. Comments are closed for this article. If you would like to contribute information on this article, e-mail us at info@iBerkshires.com |
|
Advertise on iBerkshires.com
|
