Funds to provide financial relief to lower and
middle income individuals and families
El Segundo, Calif. (May 2018) – Xceed Financial Credit Union will award $75,000 in grant funds to eligible first-time homebuyers in 2018 as part of their ongoing mission as a workplace credit union to provide affordable financial options their members.
Xceed is able to give qualifying homebuyers up to $3 for every $1 contributed, which can be applied toward down payments as well as closing costs. With the cost of homeownership steadily on the rise, the money will aid members looking to transition from renting to owning. The grant is capped at $15,000 per household and can be used in conjunction with other homeownership programs.
“Being able to support our members as they work towards achieving their dreams—like the dream of owning a home—is the reason we exist,” said Teresa Freeborn, President and Chief Executive for Xceed Financial. “We’re happy to play a role in giving Xceed members a place they can call home.”
Xceed also provides members with resources to assist with the home buying process, including FHA loans, the HomeReady® program, and multiple educational resources, such as a step-by-step guide to home buying and mortgage saving strategies. Additionally, the credit union’s Closer to Home program guarantees loan processing and final documents will be ready to sign within 15 business days or processing fees are waived.
The funds were made available through the Federal Home Loan Bank of San Francisco’s Workforce Initiative Subsidy for Homeownership grant and Affordable Housing Program (AHP), which aims to bridge economic housing gaps while stimulating growth to benefit local communities.
To find out if you qualify and apply, call 877.XCEED.11 (877.923.3311). Visit www.xfcu.org to learn about membership eligibility.