07.7.2008
South Shore Savings Bank Joins MassHousing's "A Home for the Brave" Program
South Weymouth – South Shore Savings Bank today announced that it has committed $5 million to MassHousing’s “A Home for the Brave” program, which makes mortgages available to Massachusetts veterans with no down payment required.
“A Home for the Brave” is modeled after MassHousing’s successful Municipal Mortgage Program, which provides no-down-payment mortgages to police, firefighters, teachers and other municipal employees so they can buy a home in the community where they work. Under “A Home for the Brave,” participating lenders are offering veterans portfolio loans with a fixed rate for at least ten years along with MassHousing’s MI Plus, mortgage insurance plus a no-cost benefit that provides up to six monthly mortgage payments of principal and interest in the event that a borrower should become unemployed.
“South Shore Savings Bank is proud to participate in ‘A Home for the Brave,’” said South Shore Savings Bank President and CEO John C. Boucher. “We believe it is important to help our veterans achieve the American dream of homeownership as a way of honoring their service to our country.”
For more information or to apply for the “A Home for the Brave” program, veterans can call South Shore Savings Bank at 781-682-3220.
Originally chartered in 1833, South Shore Savings Bank is a full-service community bank with assets of approximately $950 million and 15 branches. All deposits are insured in full. The FDIC insures all deposits up to $100,000 per depositor and up to $250,000 per depositor for traditional and Roth IRAs; all deposits above this amount are insured by the Depositors Insurance Fund (DIF).
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Equal Housing Lender Member FDIC Member DIF
