A. Buy Worcester Now is a private/public partnership to
preserve and promote homeownership in the City of
Worcester by offering potential homebuyers the best
and most responsible mortgage products for purchasing
a home in Worcester today. Prospective homebuyers
must secure a mortgage from a participating bank or
credit union to qualify for the Buy Worcester Now
Program. Participating banks and credit unions have
pledged more than $90 million in available Buy
Worcester Now mortgage loans.

A. More than 12 local banks and credit unions are
offering qualified Buy Worcester Now mortgage products.
A listing of Participating Lenders can be found by visiting
www.buyworcesternow.com. We encourage buyers to visit
the web site to review and research available Buy
Worcester Now loan programs from our Participating
Lenders. Programs may vary and it is important for
buyers to choose a product that meets their needs.
Participating Lenders will walk buyers through the
process by taking into account a variety of factors,
including credit history, mortgage amount, amount of
monthly payments, and income.

A. To participate in the Buy Worcester Now Program,
buyers must secure a mortgage loan through a
Participating Lender. If a prospective buyer is employed
by any of the Participating Employers, the buyer may be
eligible to receive additional financial assistance toward
their mortgage. Once a loan is secured through a
Participating Lender and a closing takes place on a
home in Worcester, the buyer will be eligible to receive
post-purchase rewards and savings from qualified
Participating Partners. The Participating Lender will
provide the buyer with a form at the time of the closing
to redeem the savings.

A. Buyers who purchase a home in Worcester can take
advantage of discounted services and mortgage
products from participating banks and credit unions, in
some cases, at rates between ½ and ¼ point below
market rates with no or low down payments, lower or no
mortgage insurance payments, and employer mortgage
assistance. Buyers can learn more about the different
lending packages by visiting www.buyworcesternow.com.
Buyers who secure a mortgage through a Participating
Lender will be eligible to receive additional rewards and
savings through the Buy Worcester Now Program.

A. Buy Worcester Now is ideal for first- or second-time
homebuyers seeking to purchase a condominium, a
single family home, or a 2-4 family home in Worcester
as their primary residence. A listing of available
properties for sale in Worcester can be found on the
Property Listing Page at www.buyworcesternow.com.
Buyers must secure a mortgage through a Participating
Lender to qualify for the Buy Worcester Now Program.

A. Area retailers and cultural venues have agreed to
provide additional incentives, from savings on
cable/telephone/Internet service to home furnishing
consulting to tickets to the theatre for qualified Buy
Worcester Now members. These rewards and savings will
be available post-purchase for buyers who secure a
mortgage through a Participating Lender and purchase a
home in Worcester. Participating Lenders will provide a
form to buyers at the time of closing so that buyers can
redeem their savings.

A. Buy Worcester Now helps potential homebuyers select
a lending package that meets a variety of income levels
and needs through trusted and responsible banks and
credit unions. Many of the featured Buy Worcester Now
loan programs aim to bolster the success of households
earning at or below 135% of the area median income,
which is currently $103,815. However, Buy Worcester Now
Participating Lenders offer a range of home purchasing
programs for households of varying incomes. To learn
more about the different loan programs, visit
www.buyworcesternow.com.

A. The current housing market has many homebuyers
waiting on the sidelines before making a decision to buy
a home, but now is the perfect time to buy in Worcester.
Worcester offers a range of housing stock, competitive
sale prices, a quality public education system, and
strong neighborhoods, as well as financing options
ranging from no or low down payment, no or lower
monthly mortgage insurance payments, discounts on
legal fees, and ½ to ¼ point discounts on 30-year fixed
mortgage rates. Employees of local companies also
have an opportunity to purchase a home closer to their
place of employment (and receive financial assistance to
do so).

A. A recent study completed by California-based
HomeSmartReports.com and featured in Banker and
Tradesman found that Worcester is among the top 10
low risk home markets in the nation because of its
stable performance over time. Buy Worcester Now
combines responsible financing programs with strong
community benefits to provide a homebuyer with more
confidence.

A. Prospective buyers can find a list of Participating
Employers at www.buyworcesternow.com. In some cases,
employers will contribute a dollar amount (up to $5,000)
toward the purchase of an employee’s home, which will
then be matched dollar-for-dollar by the Commonwealth
of Massachusetts. Please note that specific loan
programs will qualify for the dollar-for-dollar match.

A. First-time homebuyers should contact the
NeighborWorks HomeOwnership Center at 508-791-
2170. For general information about the Buy Worcester
Now Program, call 508-799-1902. To contact a
Participating Lender, visit www.buyworcesternow.com to
find contact information. Each loan officer will have
specific and detailed information relative to available
Buy Worcester Now product offerings.