Florence Bank Launches First-time Homebuyer Program

FLORENCE — Florence Bank has launched a new first-time homebuyer program called Welcome Home, designed to help first-time buyers in Chicopee, Holyoke, and Springfield secure a mortgage for a single- or two-family home or condominium.

Two tiers of the program are available, Welcome Home and Welcome Home Plus. The Welcome Home mortgage offers a reduced interest rate, 100% financing, and a $1,000 lender’s credit, and does not require private mortgage insurance (PMI). The mortgage processing fee is also waived, and there are no income restrictions.

With Welcome Home Plus, borrowers receive all the benefits of the Welcome Home mortgage, plus an additional $10,000 lender’s credit for a total of $11,000 in credits. The processing fee is also waived, no PMI is required, and there are no income restrictions.

“The communities of Chicopee, Holyoke, and Springfield have historically been underserved when it comes to providing affordable first-time homebuyer programs,” Florence Bank President and CEO Matt Garrity said. “We’re pleased to be helping to build strong communities and providing opportunities for home ownership. Those goals are key components of our mission as a local community bank.”

Florence Bank has branches in Springfield and Chicopee, and a Holyoke branch is expected to open in the spring of 2026.

To learn more or apply, contact any Florence Bank branch or visit florencebank.com/welcome-home.