Linking the Bank with the Community
Helping to improve the quality of life in the community is both a privilege and responsibility that Winter Hill Bank takes seriously. Many bank employees donate their time and talent to civic clubs like Kiwanis, Rotary, and Lions; as well as local Chambers of Commerce. We also support a variety of government and private non-profit groups.
Homebuyer Training Seminars
The bank, in conjunction with Somerville Community Corporation, a local private non-profit community organization, provides financial literacy services including an accredited first-time homebuyer counseling course, to enrolled homebuyers. The training program is a Mass. Housing approved counseling course providing attendees who successfully complete the program with the necessary course completion certificate to meet the pre-purchase education training requirement of many preferred low down payment first mortgage programs, including the Mass. Housing mortgage and Fannie Mae MyCommunityMortgage® program.
First-time Homebuyer programs
The Bank offers a variety of first mortgage programs for eligible first time homebuyers including:
Our proprietary “HomeStart” program-for homebuyers who have had no ownership of any real estate within the past three years. No income restrictions apply.
Fannie Mae’s MyCommunityMortgage® program-income and acquisition limits apply. For eligible homebuyers who have or will have no ownership of any real estate at the time of closing.
The Bank also participates in state-sponsored lending initiatives for income restricted homebuyers and homeowners seeking to acquire or refinance 1-4 family primary residences in the Commonwealth. These programs provide competitively priced fixed rate first mortgages with flexible qualification criteria, and reduced mortgage insurance premiums with job loss protection benefits should a homeowner become unemployed during the first ten years of the mortgage term.
*Mass. Housing mortgage program-for the acquisition and refinancing of 1-4 family, primary residences.
*Home for the Brave-for eligible veteran and active duty military personnel homebuyers and homeowners, including eligible surviving spouses, for the acquisition and refinancing of 1-4 family, primary residences. Reduced closing costs and closing cost assistance available. VA property improvement grants may also be available to eligible disabled veterans for retrofitting a residence to accommodate for service-related disabilities.
*Take the “T” Home Mortgage Program-targeted at regular riders of the MBTA seeking to purchase homes convenient to public transportation. Borrowers must demonstrate regular T ridership. Available for 1-4 family, primary residences located within communities serviced by the MBTA.
*Municipal Mortgage Program-for employees of municipal, county and state government, government agencies and non-profit organizations in areas of public safety, law enforcement, health care, education and social services seeking to buy homes in the communities where they work.