Greylock Federal Credit Union First-Time Homebuyer Benefit
Funding status: Active
How much assistance
Up to $3,000 toward closing costs or first two mortgage payments (Grant)
No repayment required
Eligibility
- First-time buyer required: Yes
- Geographic restrictions: Available through Greylock Federal Credit Union branches in Berkshire County, MA and Columbia County, NY
- Homebuyer education required: No
How to Apply for Greylock Federal Credit Union First-Time Homebuyer Benefit
Step 1: Apply for a mortgage through Greylock Federal Credit Union. First-time homebuyers receive up to $3,000 toward closing costs (or up to 2 monthly payments of $1,500 each) when establishing a checking account with direct deposit of 80% or more of net pay prior to closing. Without direct deposit, the benefit is $1,000. Contact the mortgage department at 413-236-4125.
Notes
Maximum benefit of $3,000 requires checking account with direct deposit setup prior to closing. Without direct deposit, benefit reduces to $1,000.