Rockland Trust joins tax credit program

ROCKLAND, Mass – Rockland Trust Co. has become a participant in MassHousing’s new Tax Credit Loan Program, which was created to give Massachusetts homebuyers a boost in addition to the $8,000 federal tax credit for first-time homebuyers.
MassHousing’s program provides borrowers with a short-term second mortgage that will be deferred until July 2010. Buyers may use the loan to finance a down payment, under the MassAdvantage Loan Program.
The loan can be repaid without interest up to June 2010.
“Rockland Trust is proud to partner with MassHousing on this innovative loan program,” said Steve Borgerson, vice president and regional mortgage manager for Rockland Trust. “This program will make homes more affordable for thousands of homebuyers across the state and have a positive impact on their lives for years to come. We are excited to be a part of this exciting new loan program and look forward to assisting future Massachusetts homeowners.”
The federal tax credit program, which authorizes a tax credit of up to $8,000 for qualified first-time homebuyers, is funded through the American Recovery and Reinvestment Act of 2009, and will expire on Dec. 1.