Anchor Financial Mortgage program targets new grads

PAWTUCKET – Anchor Financial Mortgage Inc., of Pawtucket, is offering up to $7,000 to new graduates through a company program for first-time homebuyers.
The program, dubbed “The Ocean State Grad Grant,” offers up to $7,000 to first-time homeowners who have either graduated in the last three years or plan to receive their diplomas this spring. Qualifying recipients, however, must purchase and live in the new home for a minimum of five years, according to a press release.
“A lack of financial resources often plagues both impending and recently graduated students,” according to the release. “Much of what they might have earned during that time often goes toward tuition, food, books and other living expenses. They likely did not [save] much for their future.”
Joseph Baptista, president of the company, urges graduates to consider owning a home versus renting.
“Owning a home means you can build equity and your credit,” Baptista said. “It also provides the new homeowners with a feeling of independence and privacy that they would not enjoy moving back in with their parents or sharing the financial responsibilities with friends.”
For more details readers can visit the company website at www.anchorfinancial.com.