BECU is now offering a First-Time Homebuyer Grant program for eligible members offering grants for up to 2 percent (up to $6,500) of their down payments or closing costs on their first home.
The credit union created the grant, it said in a statement, because home ownership helps lead to more financial security.
“Purchasing your first home is not only a major milestone, it can help lead to a more financially stable future,” said Scott Strand, BECU’s senior vice president of lending and wealth management. “Our goal with this program is simple: to help more people become homeowners. Many of our members are qualified home buyers, but they simply need help clearing the hurdle of a down payment.”
The credit union has allocated $1 million in grant funds for the program this year, which are available on a first-come, first-served basis. Each grant recipient must apply, qualify for and close on their new home using a BECU conventional fixed or adjustable-rate loan, up to $453,100.
To learn more about the grant, click here.
BECU has several branches throughout the state, including one in Lynnwood located at 19220 Alderwood Mall Pkwy.