Metro Credit Union, Massachusetts’ largest state-chartered credit union, is hosting meetings this month with city officials to discuss benefits of their new 40-year mortgage. Metro recently added the 40-year mortgage to its product lineup, which includes options for jumbo loans and bi-weekly payments.
Robert Cashman, Metro Credit Union’s Chief Executive Officer, met with Brian Arrigo, Mayor of Revere, at Revere City Hall this week to discuss the new offering. The 40-year mortgage will make becoming a homeowner a reality for more individuals, including first-time homebuyers who are having difficulty getting into the market.
“Revere residents will be eager to hear about how Metro’s new 40-year mortgage can open up new possibilities in homeownership†said Robert Cashman, CEO and President of Metro Credit Union. “The 40-year mortgage term provides another way to make homeownership a reality, beyond traditional mortgage terms.â€
Extending the mortgage term to 40 years results in a lower monthly mortgage payment, offering housing affordability for many who are currently priced out of the market, or those having difficulty refinancing an existing loan. Cashman and Arrigo seek to spread the word about the 40-year mortgage to improve housing affordability for Revere residents.
“We are grateful for local businesses who explore innovative programs to benefit our residences, particularly when it comes to homeownership and household assistance†said Brian Arrigo, Mayor of Revere. “Revere residents will have greater access to the equity that homeownership can provide through this new 40-year mortgage offered by Metro Credit Union, and I thank them for their continued support and partnership.â€
For more information about Metro Credit Union, please visit MetroCU.org or follow Metro on LinkedIn.
