Torrington Savings Bank Offers Lift Up Homebuying Assistance Program Through FHLBank Boston

Torrington Savings Bank has been approved to participate in the Lift Up Homeownership program, a special purpose credit program offered by Federal Home Loan Bank of Boston (FHLBank Boston) to provide financial assistance to people of color purchasing their first home.

Through Lift Up Homeownership, people of color earning up to 120% of the area median income are eligible to receive up to $50,000 in down-payment closing-cost assistance on a first-come, first-served basis to purchase their first home in New England. Participating homebuyers are required to complete a homebuyer counseling program prior to receiving a program grant.

“Torrington Savings Bank is pleased to participate in the Lift Up Homeownership program to offer community members an important tool that can help build wealth and bring stability to their lives,” said Lesa Vanotti, President & CEO. “Programs that promote homeownership are at the very heart of what we do as a community bank.”

Eligible buyers include borrowers who are Black, American Indian/Alaska Native, Hispanic, Asian, and Native Hawaiian/Pacific Islander.

To learn more about applying for homebuying assistance through the Lift Up Homeownership program and other programs Torrington Savings Bank offers in partnership with FHLBank Boston, visit TorringtonSavings.Bank/Down-Payment-Assistance

About FHLBank Boston:
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.

Posted on: Sunday April 21, 2024