SUMTER, S.C.– SAFE Federal Credit Union has launched a program that provides first responders and other public service workers with up to $15,000 to put toward home ownership.
Funded by Federal Home Loan Bank of Atlanta, the $1.7-billion SAFE FCU is participating in the Community Partners product, which provides homebuyers with money to help cover their down payment, closing costs, counseling, and home rehabilitation costs when buying a house.
“Home ownership is part of the American Dream,” said SAFE President and CEO Michael Baker. “We are excited to help extend this program to the people who make their living serving others in the community.”
SAFE FCU said eligibility extends to current or retired law enforcement officers, educators, health care workers, firefighters, and other first responders. Veterans and active-duty members of the military also are eligible as are essential workers who are purchasing a home. For all participants, income must be less than 80% of their county’s median household income, the credit union said.
What Participants Must Do
In addition, SAFE FCU said that as part of the program, participants must contribute at least $1,000 toward the purchase of the home, occupy the home as a primary residence, and complete a homebuyer education and financial literacy course through one of FHLBank Atlanta’s designated providers.