BayCoast Mortgage Exciting New Program Is Giving Homeowners A Lift Up In Greater New Bedford

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Buying a home can bring a sense of joy, satisfaction, and accomplishment. But with rising prices in the local housing market combined with today’s uncertain economy, not everyone will have the opportunity to experience the excitement that comes with homeownership. This can be especially true when considering wealth differences in our South Coast community.

That’s why BayCoast Mortgage www.baycoastmortgage.com), a leading lender in Southern New England, is proud to announce it is participating in an exciting new program that aims to increase homeownership opportunities throughout our community, with the goal of promoting a more diverse, equitable, and inclusive home-buying environment.

That new program is called Lift Up Homeownership.

Initiated by FHLBank Boston, the Lift Up program provides funding to member financial institutions, including BayCoast Mortgage, to award down payment and closing cost assistance grants of up to $50,000 to people of color including Black/African American, American Indian, Alaska Native, Asian (Native Hawaiian or Pacific Islander), Hispanic, or Latino borrowers earning up to 120% of the area median income (AMI) and are first-time homebuyers.

Lift Up was put in place to address barriers that many people of color face when purchasing a home, including limited savings for a down payment and the racial financial gap that exists in many area cities and towns.

“As part of the BayCoast family, it is our mission to provide exceptional service and financial solutions for our community,” said Nicholas L. Christ, President and CEO of BayCoast Mortgage. “Our partnership with FHLBank Boston will help expand affordable housing opportunities in the South Coast communities we serve by offering critical down payment and closing cost assistance. We’re proud to assist our neighbors as they pursue homeownership and the American Dream.”

A total of $500,000 is available through Lift Up Homeownership, which is a purchase-only program for one-to-four unit properties located in New England. Grants will be available on a first-come, first-served basis.

For further details about the program and to learn if you may qualify, please call BayCoast Mortgage at 877-466-2678 or visit our website at baycoastmortgage.com.

About BayCoast Mortgage

BayCoast Mortgage Company, LLC is a wholly owned subsidiary of BayCoast Bank, serving MA, RI, CT, NH, PA, NJ, MD, VA, SC, NC, and FL, offering a wide variety of home mortgage products, including FHA, VA, Land, Construction, Conforming and Jumbo Loans. Visit www.baycoastmortgage.com or call 877-466-2678.

About leonbg

Lifelong New Bedford Resident, Umass Dartmouth & NBHS alum. Passionate, sarcastic and informed. Avid duckpin bowler and a lover of amazing food, fine wine and awesome movies.

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