Greenfield Cooperative Bank Offers Assistance to Homebuyers

GREENFIELD — Greenfield Cooperative Bank has been selected to participate in Federal Home Loan Bank of Boston’s Equity Builder Program, which assists local homebuyers with down-payment and closing costs as well as homebuyer counseling and rehabilitation assistance.

The program provides grants to financial institutions to assist households earning up to 80% of the area median income. Borrowers are eligible to receive up to $22,000 in assistance on a first-come, first-served basis. Buyers must also complete a homebuyer counseling program.

“This grant program is designed to ease some of the challenges associated with a home purchase, particularly in areas where home prices are on the rise. We are pleased to participate to help borrowers become homebuyers, while also supporting the financial stability and vitality of our communities,” said Jane Wolfe, senior vice president of Residential Lending for Greenfield Cooperative Bank.

The bank is eligible to receive up to $220,000 in 2022 through the Equity Builder Program depending on availability of funds. Since 2003, the Equity Builder Program has awarded more than $48.9 million in funds, assisting 4,251 income-eligible households in purchasing a home.

To learn more about applying for assistance, call the Greenfield Cooperative Bank Residential Loan Origination department at (413) 772-5000, ext. 490.