HarborOne Bank Announces Building Brockton Mortgage Program
March 3, 2021
(Brockton, MA) – March 3, 2021 – HarborOne Bank has launched the “Building Brockton” program to support individuals from historically disadvantaged populations in the City of Brockton.
“We want more families to stay in Brockton and be invested in Brockton – and our Building Brockton program will help them to do that,” said James Blake, CEO of HarborOne Bank. “The American Dream of owning a home, watching that investment grow, and leaving it to your children should be attainable for all of us. That’s the aim of Building Brockton.”
HarborOne’s Building Brockton mortgage program will provide home buyers purchasing in Brockton a 25-basis point discount on their mortgage rate on owner-occupied one, two, and three-family units, while also reducing the credit score necessary to borrow – making it easier for individuals to be in a position to buy a home. HarborOne will commit up to $20 million in residential home sales through this program.
At the same time, HarborOne has also partnered with the MassHousing Workforce Advantage loan program allowing eligible buyers a $2,500 credit toward closing costs as part of the homebuying purchase.
Many individuals and families looking to buy a home have good credit and sufficient income, but they lack the upfront funds to cover closing costs and the down payment. This public-private partnership program is available to first-time home buyers for purchases of one or two-family homes in the City of Brockton and provides an opportunity for up to $25,000 in down payment assistance in the form of a no-interest loan that is paid back when the property is sold or refinanced in the future.
“These programs are aimed directly at helping Brockton residents, and Brockton. The best way to grow and improve our community is for residents to be invested in that community, and the best community investment is a home,” said Blake.
About HarborOne Bank
HarborOne Bank, headquartered in Massachusetts, serves the financial needs of consumers, businesses, and municipalities throughout Massachusetts and Rhode Island through a network of 30 full-service banking centers and commercial loan offices.
The Bank also provides a range of educational resources through “HarborOne U,” with free digital content, webinars, and recordings for small business and personal financial education. HarborOne Mortgage, LLC, a subsidiary of HarborOne Bank, provides mortgage lending services throughout New England and other states.
