Mascoma Savings Bank Equity Builder Grant for 1st time Home Buyers!
Mascoma Bank is located in Lebanon NH with branch offices in West Lebanon, Hanover, Enfield, Lyme and many other locations in NH and White River Jct, Norwich, Windsor and many other locations in VT………… For the past 3 years they have provided grants to first time home buyers and this year they are able to offer $10,000 grants to qualified applicants. The following are bullets about the program and the income levels for the program in both NH and VT.
- Up to $10,000 for down payment or closing costs. The funds are available at closing.
- The grant is for 1st time home buyers. This is defined as someone that hasn’t owned a home in the past 3-years.
- Can be used to purchase single family home, condo or Manufactured Home on it’s own land. (MHs in parks are not eligible)
- The grant is a 5-year grant. The home owner pays nothing if they own the home for 5-years. If they sell prior to that they pay back a pro-rated share.
- Income levels vary from town to town – state to state but the range is from around $38,000 for a single person to around $74,000 for a family of eight in NH and around $35,000 for a single person to around $67,000 for a family of eight in VT.
When you include the Federal Tax Credit of $8000 and the interest rates that continue to be very good – this can be the perfect time to purchase your first home.
For more information send us an email [email protected] or give us a call at 603-643-4800
More Later! Carol & Matt