Construct Announces First-Time Homebuyers Closing Cost Grant
GREAT BARRINGTON, Mass. — Construct has announced a "final mile" closing cost grant of $2,500 available to low-to-moderate-income south Berkshire County residents to help create access to home ownership.
Massachusetts State Representative William "Smitty" Pignatelli successfully introduced an amendment to the Massachusetts American Rescue Plan Act (ARPA) in the Fiscal 2023 Budget, appropriating $100,000 for a Berkshire County first-time home buyers' program.
Working with area mortgage brokers, Construct administers the funds to provide eligible candidates with "final mile grants" for closing expenses. Berkshire County residents who have already been approved through their financial institution and earn up to 100 percent of AMI will be eligible.
"I'm a firm believer that creating a path to homeownership is the most effective way for people to build equity," said Pignatelli. "We want people to be able to live in the Berkshires, establish roots here, work, and raise their families. I hope these ARPA funds will help Construct continue and grow their great work in our community."
Applicant's eligibility is based on Area Median Income (AMI) and the town of the home they are purchasing. This program is available to the towns of Alford, Becket, Dalton, Egremont, Great Barrington, Lee, Lenox, Monterey, Mount Washington, New Marlborough, Otis, Richmond, Sandisfield, Sheffield, Stockbridge, Tyringham, Washington, and West Stockbridge.
Income-eligible applicants are invited to contact mortgage officers for applications at the following banks: Lee Bank, Greylock Federal Credit Union, Adams Community Bank, Pittsfield Cooperative Bank, and Berkshire Bank. General questions about the closing cost grant can be directed to Construct Housing Navigator Kate Coulehan at kcoulehan@constructberkshire.org.
