RADCLIFF, KY (August 5, 2024) |
Abound Credit Union made a life changing impact on local families this spring by helping eight families take advantage of a total of $160,000 in Welcome Home Grants and go from renters to homeowners.
The grants, which are up to $20,000 each, provide closing cost and down payment assistance for eligible home buyers and are offered in partnership with the Federal Home Loan Bank of Cincinnati (FHLB). Abound’s home loan officers worked closely with Members to verify their eligibility and help them take advantage of this amazing opportunity, which is typically only available for a very limited time each year.
“We’re incredibly proud to help more Kentucky families become homeowners,” says Ray Springsteen, President/CEO of Abound Credit Union. “Our experienced, local loan officers are here to help Members achieve their goals, whether that means buying their first home, building one from scratch, acquiring land or purchasing investment property. Abound’s affordable home loans make it happen.”
The eight families who took advantage of a total of $160,000 in Welcome Home Grants this year included several hard-working single parents with young children, and Members who would not have been able to purchase a home otherwise due to a lack of funds to put towards closing costs and a down payment.
“After my divorce, a home right down the street from my parents came available. I have young children and need family close by for support but my debt-to-income ratio was too high to be approved – even at the financial institution where I work. Thanks to Abound’s help and the Welcome Home Grant, I was able to get my ratios down and buy the home of my dreams – close to my job and my parents,” shared one Member.
More information about the credit union’s home loans and ongoing community impact may be found on Abound’s website.