Chelsea Groton Bank Introduces Community Heroes Homeownership Program

Groton, CT – In time for Labor Day, Chelsea Groton is pleased to announce a special 1% down payment home financing product, the Community Heroes Homeownership Program, for civic-minded men and women who serve our communities as full-time emergency medical technicians (EMTs), firefighters, paramedics, police officers and teachers (K-12).
The Community Heroes Homeownership Program will allow individuals and families who have at least one loan applicant employed as a full-time EMT, firefighter, paramedic, police officer or teacher (K-12) to purchase a home with only a 1% down payment requirement, and up to $500 off closing costs. 
“We are thrilled to be able to offer these local heroes a token of our appreciation for their dedicated service to our community,” shared Mike Sheahan, EVP, Director of Retail Lending. “Our community wouldn’t be what it is today if not for the service and sacrifice of these local heroes. Helping those who have given so much to us to purchase a home is simply the right thing to do.”
There is no requirement that the community heroes live in the same town where they work. In addition to the Community Heroes Homeownership Program developed in partnership with mortgage insurance partners, Chelsea Groton also offers affordable lending products through the Veterans Administration, CT Housing and Finance Authority (CHFA), Federal Housing Administration (FHA), US Department of Agriculture (USDA) and down payment assistance and grant programs, including FHLB Equity Builder, HDF SmartMove, and CHFA DAP. Please visit or stop in to a branch for more information.

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About Chelsea Groton Bank
Based in Groton, CT, Chelsea Groton Bank is a full-service mutually owned bank with over $1 billion in assets. Chelsea Groton Bank’s products and services include consumer banking, business banking, mortgage and business lending, cash management, financial planning and financial education classes. With 14 branch locations throughout New London County and a Loan Production Office in Hartford County, Chelsea Groton Bank also provides online and mobile banking, 24-hour telephone banking, and nationwide ATM banking for individuals, families and businesses. To learn more, please visit Member FDIC. Equal Housing Lender.