Florence Bank Welcome Home First-Time Homebuyer Program
Funding status: Active
How much assistance
$1,000 lender credit (Welcome Home tier); $11,000 in lender credits (Welcome Home Plus tier); additional $10,000 credit if property is in a Majority Minority Census Tract (Grant)
Eligibility
- Income limits: No income restrictions
- First-time buyer required: Yes — Must be a first-time homebuyer.
- Geographic restrictions: Property must be an owner-occupied single-family, two-family, or condominium in Chicopee, Holyoke, or Springfield, MA.
- Homebuyer education required: No
How to Apply for Florence Bank Welcome Home First-Time Homebuyer Program
Step 1: Contact Florence Bank at 413-586-1300 or visit a local branch. The Chicopee branch is located at 705 Memorial Drive, Chicopee, MA 01020.
Notes
CRA community lending product offering 100% financing with no PMI. Welcome Home tier includes reduced interest rate, $1,000 lender credit, and waived $950 processing fee. Welcome Home Plus tier adds $10,000 additional lender credit. Properties in Majority Minority Census Tracts receive an extra $10,000 credit. Launched mid-2025 with data assistance from Way Finders.