Thomaston Savings Bank Participates in Program to Support Homeownership for People of Color
Thomaston Savings Bank, a leading financial institution, is proud to announce its participation in the Lift Up Homeownership program, a groundbreaking initiative by the Federal Home Loan Bank of Boston. This program aims to provide vital financial assistance to people of color, enabling them to achieve their dreams of purchasing their first homes.
Lift Up Homeownership (LUH) offers eligible individuals of color, including Black, American Indian or Alaska Native, Hispanic, Asian, and Native Hawaiian or Pacific Islander borrowers the opportunity to receive up to $50,000 in down-payment and closing cost assistance. The program targets those earning up to 120% of the area median income and operates on a first-come, first-served basis within the New England region.
In addition to financial aid, LUH emphasizes the importance of homeownership education and requires participants to complete a comprehensive homebuyer counseling program. This holistic approach ensures that individuals are equipped with the knowledge and skills necessary for successful homeownership.
“We believe that every individual, regardless of their background or ethnicity, should have the chance to achieve the dream of owning a home.” Said Stephen Lewis, President and CEO, Thomaston Savings Bank. “By participating in the Lift Up Homeownerships program, we are taking a proactive step towards supporting people of color in their journey towards homeownership, empowering them to build generational wealth and create stable communities.”
For further information on applying for home buying assistance through the Lift Up Homeownership program, as well as other collaborative initiatives between Thomaston Savings Bank and the Federal Home Loan Bank of Boston and other organizations, please visit ThomastonSB.com.