South Berkshire County Benefits from Construct Inc.’s First-Time Homebuyer Grants
Construct Inc., a well-known entity committed to the housing sector, has recently publicized its “final mile” closing cost grant. This grant, valued at $2,500, is aimed at prospective homebuyers in the scenic locale of Berkshire County, Massachusetts, which spans a collection of 18 distinct towns.
The housing body, Construct Inc., has allocated a total of 36 grants for this initiative. Kate Coulehan, the organization’s dedicated housing navigator, has provided insight into the eligibility criteria for potential applicants. The eligibility of each applicant will be primarily determined by the area median income (AMI) and the specific town in which the home they intend to purchase is situated.
Coulehan clarifies, “The condition for eligibility essentially stipulates that your income must be at or below 100% of the AMI. Applicants can originate from both within and outside the state. The Berkshires have been notoriously expensive for a considerable period, and Construct founded back in 1969, has consistently evolved to address the changing needs of the community throughout the decades.”
The financing for this venture is attributed to an amendment to the American Rescue Plan Act by state Rep. Smitty Pignatelli, who secured $100,000 specifically for the implementation of a first-time home buyers program within Berkshire County.
The towns encompassed by this program include Alford, Becket, Dalton, Egremont, Great Barrington, Lee, Lenox, Monterey, Mount Washington, New Marlborough, Otis, Richmond, Sandisfield, Sheffield, Stockbridge, Tyringham, Washington, and West Stockbridge.
The program welcomes income-eligible applicants to get in touch with mortgage officers from a range of participating banks to start the application process. The banks include Lee Bank, Greylock Federal Credit Union, Adams Community Bank, Pittsfield Cooperative Bank, and Berkshire Bank. This initiative aims to provide financial relief and foster more inclusive homeownership opportunities in these traditionally expensive areas.
