Bank Announces Mortgage Program For Veterans, Military

The following is an announcement from The Savings Bank:

The Savings Bank has launched a new mortgage program for U.S. Armed Services veterans and active duty military personnel through its partnership with MassHousing. The program, Home for the Brave, offers affordable low down payment mortgages for Massachusetts residents who are veterans, active duty personnel and surviving spouses of military personnel.

According to Kathleen Beaulieu, Senior Vice President – Senior Retail Loan Officer for The Savings Bank, the program offers up to 100% financing for single family homes and condominiums, and up to 95% financing for two or four family multi-family homes for those who qualify for the program. The loans may be used to purchase or refinance a primary residence. 

The Savings Bank’s Home for the Brave mortgage program offers a 30-year fixed rate mortgage as well as a 10/1 Adjustable Rate Mortgage and reduced closing costs. Closing cost grant money, up to $1500, may also be available from MassHousing for purchase transactions. 

“The Savings Bank is pleased to partner with MassHousing to provide affordable, low down payment mortgages to our veterans living in Massachusetts,” Senior Vice President Beaulieu said. “This is just one of the many mortgage programs we offer to new and repeat home buyers.”

To learn more about the Home for the Brave program at The Savings Bank visit www.tsbawake24.com or call 1-800-246-2009.