Our friend mentioned how great SFCU was to work with. The staff makes you feel welcome. Working with the mortgage team was great and very helpful.
SFCU Member
Housing Our Workforce (HOW) Program
SFCU has been selected to participate in Federal Home Loan Bank of Boston’s (FHLBank Boston) Housing Our Workforce (HOW) Program.
HOW provides assistance to FHLBank Boston financial institution members to help local homebuyers earning more than 80% and up to 120% of the area median income with down payments on owner-occupied primary residences.
HOW supports borrowers who are essential to the long-term economic vitality of our communities purchase homes in communities where they work. Recipients must also complete a homebuyer education/counseling program.
The program provides a two-to-one match of homebuyer down payments made at the time of purchase by eligible homebuyers. Borrowers can receive up to $20,000 in assistance on a first-come, first-served basis.
SFCU is eligible to receive up to $150,000 in 2022 through Housing Our Workforce depending on availability of funds.
Subject to credit approval. Must have individual or household income more than 80% up to 120% of the HUD median income based on future address to qualify. Must be primary residence. The funds are from a pool of monies provided by FHLB and are available on a first-come, first-served basis. Funds are not guaranteed. Restrictions may apply.
About FHLBank Boston
The Federal Home Loan Bank of Boston is a cooperatively owned wholesale bank for housing finance in the six New England states. Its mission is to provide highly reliable wholesale funding and liquidity to its member financial institutions in New England. The Bank also develops and delivers competitively priced financial products, services, and expertise that support housing finance, community development, and economic growth, including programs targeted to lower-income households.
This was the first time I had purchased a vehicle without going through a dealer for financing. When I went to the Credit Union I was seen immediately by the Loan Department. The Loan Officer was very knowledgeable. I was given a list of documents to gather and was promptly taken care of when I returned with them. My wife will be contacting your office about refinancing her student loans.
SFCU Member
Our Loan Officer, Arlene, was so nice to work with. Her knowledge of the loan process and her ability to listen for what we wanted in a mortgage made the transition go smoothly. A very nice experience.
SFCU Member
In my 30+ years in Somerset, I have never seen a financial institution with such great service. Keep up the great work, you have a great deal to be proud of.
SFCU Member