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.
Buy Worcester Now
If you’re a first-time home buyer with a low to moderate income, buying in Worcester has some great advantages. The Buy Worcester Now loan offers down payment and closing cost assistance to income-eligible borrowers.
First connection first-time home buyer program
This program offers first-time home buyers with low to moderate incomes an affordable fixed rate on homes built or renovated by local community development centers.
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.