Your pathway to homeownership begins here.

At Hometown Mortgage, we help potential borrowers like you unlock the right home financing solution for your unique needs. As a division of bankESB, a Hometown Financial Group company that also includes bankHometown, North Shore Bank, and Abington Bank—a division of North Shore Bank, we leverage our combined strength, internal shared services model and investments in technology to work with borrowers and homeowners across Massachusetts, Connecticut and neighboring states to make home financing simple and stress-free.

Last year, Hometown Mortgage borrowers received more than $500,000 in grants. This year, we want to raise that to more than $1 million! Contact a lender to get started.

Path to Homeownership in Springfield

Funded by bankESB, the Path to Homeownership Program is a property-eligible grant of up to $10,000 to be used towards down payment assistance, lender-paid mortgage insurance, closing costs, or other home improvements for qualified borrowers .*

Highlights

  • Can be combined with our affordable loan product or other conventional first mortgage loans.
  • Applications are submitted and grants are awarded on a first-come, first-served basis for as long as funds remain available.
  • Can be layered with other grant programs.

 

*Subject to property, use, and recipient eligibility.

Eligibility Guidelines

Properties
Owner-occupied units are eligible for funding. Qualified units include 1-to 4-family properties, townhouses, and condominiums in specific locations in Springfield. Other types of housing may be considered.

Use
Path to Homeownership Program grants provide down-payment or closing-cost assistance. They also supplement the payment of rehabilitation costs associated with acquisition. A lien for the grant amount is placed on the home and forgiven over a five-year period. You pay the grant back only if you sell the home during that five-year period.

Eligible Recipients
This program is available to qualified borrowers purchasing a home located in majority minority neighborhoods in Springfield. Borrowers must be at or below 150% Area Median Income to be eligible to receive Path to Homeownership Program funds. Income restrictions apply.