Skip to main content

BECU Commits $2M for First-Time Homebuyer Program

Phil Hall
Feb 13, 2020
Photo credit: Getty Images/Sundaemorning

BECU, the Seattle-based $20 billion community credit union, has allocated $2 million to its First-Time Homebuyer Grant program in 2020.
 
BECU, the Seattle-based $20 billion community credit union, has allocated $2 million to its First-Time Homebuyer Grant program in 2020According to the credit union, eligible members can receive grant funds of two percent (up to $7,500) toward the downpayment or closing costs on their first home. Since the program began in 2018, BECU has granted over $2.4 million to help purchase 438 homes by its members, of which 80 percent were Millennials. Eligible participants must use a BECU conventional fixed or adjustable-rate loan, up to $510,400, in order to qualify for funding.
 
"Our team is committed to the financial well-being of our members and enriching our communities. We recognize that home ownership can be an important milestone in someone's financial journey," said Scott Strand, BECU's chief operating officer. "The popularity of the program has reinforced that while many of our members are qualified homebuyers, they simply need our help in removing the barrier of the downpayment."

 
Ocwen Financial To Acquire Reverse Mortgage Servicing Platform

Ocwen Financial Corporation's wholly-owned subsidiary, PHH Mortgage Corporation will acquire RMS' reverse mortgage servicing platform.

Industry News
Jun 18, 2021
UniteCT Emergency Rental Assistance Succeeds

Thanks to the successful launch of the UniteCT program, emergency rental assistance funds are helping Connecticut residents maintain housing.

Industry News
Jun 17, 2021
Angel Oak Mortgage Announces Initial Public Offering

Angel Oak Mortgage announced its initial public offering of 7,200,000 shares of its common stock at $19 per share.

Industry News
Jun 17, 2021
Mortgage Apps Rebound After Three Consecutive Weeks Of Declines

The Mortgage Bankers Association reported the first increase in mortgage applications after a three consecutive weeks on declines.

Industry News
Jun 17, 2021
CFPB New Rule Prevents Predatory Lending To Military Service Members

The CFPB stipulates its authority to examine supervised financial institutions for risk to active duty servicemembers and their dependents.

Industry News
Jun 16, 2021
Inventory Begins A Slow Recovery

Inventory grew 3.9% from April to May, according to Zillow's latest Market Report, after a year of steady decline.

Industry News
Jun 16, 2021