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As the costs of buying a home soared this year, Federal Home Loan Bank grants helped lower the burden for some low-income borrowers.

Summit Credit Union of Madison, Wis. ($6.6 billion in assets, 248,245 members as of June 30) announced Thursday that it was able to help 70 borrowers through the $700,000 in grants it was provided this year by the Federal Home Loan Bank of Chicago. Buyers must earn no more than 80% of the area’s median income.


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Jim DuPlessis

A journalist for decades.

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