According to Bridgewater Savings Bank they have successfully applied and been approved to offer a limited number of grants for qualified first-time homebuyers as part of the 2011 Equity Builder Program. The program is funded by the Federal Home Loan Bank of Boston.
The grants, in amounts of up to $10,000 per household, can be used to help cover closing costs, down payments and homebuyer counseling, and are available on a first-come, first-served basis.
Eligibility is determined based upon household incomes that are at or below 80 percent of the area's median income. The grants will be forgiven over the first five years of mortgage repayment.
Interested buyers should act soon, however, because the funds are limited and will be dispersed quickly. For more information and to see whether they qualify for an Equity Builder Program grant, prospective homebuyers are encouraged to contact a Bridgewater Savings Bank.
Bridgewater Savings Bank is a full service financial institution offering commercial, consumer and residential loans as well as business and personal banking. In addition to these services, the Bank offers a wide array of financial products.
Established in 1872, Bridgewater Savings Bank has over $490 million in assets, with more than $80 million in additional retirement, investment and trust assets under management. The Bank
has nine offices located in Bridgewater, Carver, East Bridgewater, Lakeville, Pembroke,
Raynham, Taunton and West Bridgewater.
The main office and corporate headquarters of Bridgewater Savings Bank are located at 756
Orchard Street, Raynham, MA. Please visit www.bridgewatersavings.com or call 508-884-3300
for additional information.