September 2, 2009
Gardner's GFA To Make Grants To Homebuyers
By Matthew L. Brown
GFA Federal Credit Union of Gardner has been approved by the Federal Home Loan Bank of Boston to make grants of up to $10,000 to first-time homebuyers.
The approval makes GFA part of FHLB's "Equity Builder" program. Grants awarded under the program can be used toward down payments or to cover closing costs.
First-time homebuyers can qualify for the $8,000 federal first-time homebuyer tax credit in addition to the equity builder grant.
GFA has been approved to award up to $100,000 in grants. To qualify for a grant, a home must be owner occupied and buyers must meet income guidelines and attend a homebuyer education course.
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