First-time homebuyer programs
Webster Five offers a variety of loan programs that can make home-buying more affordable for first-time homebuyers.
First time homebuyer mortgage loan
A home ownership program offered by Webster Five, eligible first time homebuyers can benefit from low down-payment solutions, fixed & adjustable rate mortgages and discounted attorney fees. A $500 closing cost credit will be given when a Home Ownership Counseling course is completed through a Webster Five approved vendor, MassHousing or Fannie Mae. No Private Mortgage Insurance (PMI) options are available to qualified borrowers.
FHLB Boston home equity builder program
Webster Five is a participating lender with the Federal Home Loan Bank of Boston’s Equity Builder Program (EBP). The EBP is a grant program designed to support homebuyers who earn no more than 80% of the area median income, as determined annually by the U.S. Dept. of Housing & Urban Development (HUD). The program can be used to lower down payment and closing costs for those who qualify.