All Holyoke Credit Union branches will be closed on Monday, May 27 2024 for Memorial Day. Online and Mobile banking are available 24/7.

Operation Welcome Home Loans

We thank you for your service! Holyoke Credit Union offers members who are veterans of or currently enlisted in the U.S. Military a first-time homebuyer mortgage in conjunction with MassHousing. This first-time homebuyer mortgage offers a low-fixed rate mortgage with low/no down payment financing for single-family homes.



A fixed-rate MassHousing/Fannie Mae first mortgage combined with a low down payment-MassHousing silent second mortgage with no interest with all payments deferred until the first mortgage is prepaid or the property is sold.

Eligible Borrowers

First-time homebuyers purchasing a home in Massachusetts who are active duty military, veterans who served honorably, reserve members, National Guard members, or the surviving spouse of a deceased service member who died on active duty.

Eligible Properties

  • Single-family homes and condominiums
  • Two- and three-family properties

Income Limits

Standard MassHousing income limits apply.

Loan Limits

Fannie Mae Loan Limits for the first mortgage.

Additional Eligibility Requirement

Participants must receive a First-Time Homebuyer certificate in order to be eligible for this mortgage product.


All homebuyers eligible for the Buy Holyoke Now Program will receive $500 off closing costs. Must be purchasing a home in Holyoke for the first time and borrowing mortgage funds from Holyoke Credit Union to qualify.

Benefits for veterans:

  • Low/no down payment on single-family homes and condos
  • Low down payment financing on two- and three-family properties
  • Competitive interest rates and fees
  • Conventional loan fees and closing costs
  • Simple and easy mortgage process and procedures
  • Possible additional benefits available with use of eligible community second programs
  • No special property or appraisal requirements, condos follow conventional guidelines
  • Non-spouse co-borrowers allowed
  • For multi-family properties, projected rental income may be factored into total income for determining eligibility
  • MIPlus™ unemployment benefits for eligible Reservists and National Guard Members called to active duty

To learn more about MassHousing loans offered through Holyoke Credit Union, please contact one of our Mortgage Specialists