First-Time Homebuyers Program
The Brookline CDC believes that supporting low and moderate income Brookline residents in becoming homeowners is vital to expanding economic opportunity and creating more inclusive housing. We have worked to facilitate delivery of homebuyer education programs by allied organizations like the Allston-Brighton Community Development Corporation in cooperation with the Brookline Housing Authority.
We have also established a down payment and closing cost assistance program for low and moderate income Brookline residents who are first-time home buyers. We have set aside funds for an initial commitment to first-time homebuyer assistance. We plan to seek additional resources to support this program.
We are seeking to help close the racial homeownership gap by assisting primarily BIPOC residents to become homeowners in Brookline. Brookline CDC will continue to work with the Allston-Brighton Community Development Corporation (ABCDC) to provide the training and is seeking funding for an incentive, in the form of a $5,000 grant, to low and moderate income homebuyers who can raise their credit score by at least 20 points to a minimum score of 680 by taking a credit bootcamp or counseling program at ABCDC, which is an approved HUD training program.
BCDC sees this project as truly transformational for Brookline’s low and moderate income residents. BCDC will work closely with BHA and tenants to ensure that the program includes Brookline’s most vulnerable residents who are ready for home ownership.