Lift Up Homeownership

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Stepping into your first home is more than just a purchase—it’s a milestone. However, the journey towards homeownership can be daunting, especially with the financial hurdles of securing a down payment. That’s where BayCoast Mortgage and the Federal Home Loan Bank of Boston step in with the Lift Up Homeownership program, designed to bridge the gap for first-time homebuyers of color.

The Lift Up Homeownership program is crafted to empower and assist individuals of color in navigating the complex real estate market. Here’s what potential homebuyers need to know:

• Eligibility is limited to first-time homebuyers of color earning up to 120% of the area median income (AMI).
• The program offers up to $50,000 in grant funding for down payment and closing cost assistance.
• Properties eligible under this initiative include single-family homes, townhouses, condos, and more within New England.
• Grants are forgivable after five years, contingent on compliance with the program’s terms.
• Buyers who may qualify include Black/African American, American Indian, Alaska Native, Asian (Native Hawaiian or Pacific Islander), Hispanic, or Latino.

If you’re a first-time homebuyer of color facing financial barriers to homeownership, the Lift Up Homeownership program could be the key to unlocking your dream home. The program is designed to alleviate the stress of large upfront costs and is tailored to help you invest in a future where your home can also contribute to building your wealth.

• Forgivable grants of up to $50,000, reducing the financial burden of initial home-buying costs.
• No repayment penalties if conditions are met, ensuring peace of mind.
• First-time homebuyer counseling to prepare you for the responsibilities of homeownership.

Our experienced lending professionals are here to assist you every step of the way. Visit our local branches or call us at 508-678-7641 to get started.