Kirtland Federal Credit Union helps first time homebuyers with free down payment grants
ALBUQUERQUE, NM (August 11, 2020) — Kirtland Federal Credit Union, one of New Mexico’s largest credit unions, has helped qualified homebuyers, via its Jump Start Down Payment Assistance program, finance nearly $1.25 million in mortgages since the program started in late 2019. The Jump Start program offers down payment assistance in the form of a grant up to 3% of the purchase price (maximum $6,000). The Jump Start Down Payment Assistance program is available to first time homebuyers, people who haven’t owned a home in the last three years and make no more than $65,500 (for 1–2 person households) and $74,450 for 3+ person households.
To date, nine families have utilized the program, receiving more than $45,000 in down payment assistance.
“The Jump Start Assistance Program is one of our most popular programs,” said Sara Horten, Kirtland FCU Chief Retail & Lending Officer. “Owning a home is the biggest investment most people will ever make. Our commitment is to make the home buying opportunity available to as many people as possible.”
One of the recipients of a Jump Start grant said their Jump Start assistance played an integral role in the recent purchase of their first home.
“Kirtland FCU and the JumpStart program allowed us to purchase a home sooner than expected, because we didn’t have much money saved up for a down payment,” said Benedict Fawver, a 25-year-old brand new homeowner. “Jump Start allowed us to focus on the other costs of moving, without having to worry about finding the money for a down payment.”
For more information on the JumpStart Down Payment Assistance Program, go to KirtlandFCU.org/jumpstart.
About Kirtland Federal Credit Union
Established in 1958, Kirtland Federal Credit Union is a full-service financial partner to our members on Kirtland Air Force Base, in the Albuquerque area, throughout the state of New Mexico and beyond. With assets approaching $855 million, Kirtland FCU serves more than 48,000 members at five branches, as well as the dedicated Home Loan Center. Learn more at www.kirtlandfcu.org/about.