GCB Offers Homebuying Assistance to People of Color Through FHLBank Boston's Umbrella Special Purpose Credit Program

Greenfield Cooperative Bank has been approved to participate 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. People of color is defined as Black, American Indian or Alaska Native, Hispanic, Asian, and Native Hawaiian or Pacific Islander borrowers.

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 on a first-come, first-served basis to purchase their first home in New England. Homebuyers are required to complete a homebuyer counseling program prior to receiving LUH funds.

“At a time when home prices and mortgage interest rates have risen sharply in New England, the dream of owning a home is beyond the reach of many. Greenfield Cooperative Bank is pleased to participate in the Lift Up Homeownership program and offer people of color a critical stepping stone to realizing their homeownership goals,” said Jane H. Wolfe, Executive Vice President of Residential Lending, Greenfield Cooperative Bank.

To learn more about applying for homebuying assistance through the Lift Up Homeownership program and other programs Greenfield Cooperative Bank offers in partnership with Federal Home Loan Bank of Boston and other organizations, please contact Greenfield Cooperative Bank Loan Originations at 413-772-5000 extension 490.

About FHLBank 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.