Lower income members of the 221,000-member State EmployeesCredit Union of Maryland will now have access to programs which canhelp them buy their first homes.
The $2.4 billion credit union has announced it is participatingin two programs offered the Federal Home Loan Bank of Atlanta whichoffer low- and moderate-income home buyers up to $7,500 in matchingfunds they can use toward down payment and closing costs.
“The First-Time Homebuyer program is available to any SECU member in Maryland, D.C. or Virginia with a maximum incomeof less than 80% of the HUD Median Income, adjusted for familysize,” Michael Gordy, SECU's senior vice president of lending.
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