Salem Five Receives City of Boston Approved Lender Designation
Salem, Mass., November 20, 2018 – Salem Five today announced that it has been designated an approved lender for the City of Boston’s Home Center programs.
The Boston Home Center helps Boston residents purchase, improve and keep their homes; offering training to first-time homebuyers, guidance and funding for homeowners to make home improvements and counseling to help residents avoid foreclosure, all while marketing homes for income-eligible, first-time buyers.
“We’re thrilled to be a part of a program that helps people in the City of Boston reach their goal of becoming homeowners,” said Salem Five Mortgage President Ed McDonald. “One of our core values at Salem Five is to help people in the communities we serve build financial stability and building equity in a home is a huge piece of the financial puzzle. We’re looking forward to working with more Boston residents on their journey to home ownership.”
Salem Five has a long history of supporting affordable housing programs and initiatives and has been consistently recognized by MassHousing (an independent, quasi-public agency that provides financing for affordable housing) as a top provider of mortgage loans for low- and moderate-income Massachusetts residents.
Salem Five Bancorp is the parent bank holding company of Salem Five (www.salemfive.com), a mutual institution founded in 1855. Salem Five aims to make money less complicated and thereby make customers’ lives simpler and easier by offering sophisticated retail and commercial banking products, personalized service and innovative technology. Salem Five is one of the largest Massachusetts-headquartered banks with $5 billion in assets and 35 retail branches in Essex, Middlesex, Norfolk and Suffolk counties and southern New Hampshire. Divisions include Salem Five Mortgage Company, which has financed more homes than any other Massachusetts bank; Salem Five Investment Services which offers financial and retirement income planning, portfolio review and money management; and Salem Five Insurance Agency, which provides personal and commercial insurance. Salem Five deposits are insured through the FDIC and DIF. Salem Five Mortgage Company’s NMLS # is 4662. Equal Housing Lender. Securities are offered through LPL Financial, member FINRA/SIPC. Life insurance products are offered through LPL Financial or its licensed affiliates. Insurance and investment products are not FDIC insured, not bank guaranteed, may lose value, not a deposit, and not insured by any federal government agency.