The Cooperative Bank of Cape Cod has been approved to participate in the Lift Up Homeownership program, a Federal Home Loan Bank of Boston pilot program designed to provide financial assistance to people of color purchasing their first home.
People of color is defined as Black, American Indian or Alaska Native, Hispanic, Asian, and Native Hawaiian or Pacific Islander borrowers.
Through Lift Up Homeownership (LUH), people of color earning up to 120 percent of the area median income are eligible to receive up to $50,000 in down-payment and closing cost assistance on a first-come, first-served basis to purchase their first home in New England. Homebuyers are required to complete a homebuyer counseling program prior to receiving LUH funds.
“At a time when home prices and mortgage interest rates have risen sharply in New England, the dream of owning a home is beyond the reach of many,” said Lisa Oliver, Chair, President and CEO, The Cooperative Bank of Cape Cod. “The Coop is pleased to participate in the Lift Up Homeownership program and offer people of color a critical stepping stone to realizing their homeownership goals.”
To learn more about applying for home buying assistance through the Lift Up Homeownership program and other programs The Cooperative Bank of Cape Cod offers in partnership with Federal Home Loan Bank of Boston and other organizations, contact Charlotte Green at cgreen@mycapecodbank.com.
