Future Wellfleet Habitat Cape Cod Homeowners
Will Have Locally Held Mortgages
YARMOUTH PORT, MA –Seamen’s Bank and Habitat for Humanity of Cape Cod have formed an important partnership to help keep Habitat Cape Cod homeowners’ mortgages local and expedite the mortgage process for Habitat families. Seamen’s Bank has created a product with a similar structure to what has previously been offered to Habitat for Humanity of Cape Cod homeowners through the United States Department of Agriculture (USDA). Habitat Cape Cod’s President and CEO Wendy Cullinan stated, “This is a perfect example of the community coming together to make a difference in the lives of young families struggling to work and live on Cape Cod.”
The first Seamen’s Bank mortgages will benefit the four future homeowners of Habitat for Humanity of Cape Cod’s upcoming build in Wellfleet on Old Kings Highway. A Community & Volunteer Kickoff event and a Wall Raising Ceremony are expected to take place in October for the four homes. Seamen’s Bank is a longtime supporter and major donor of Habitat for Humanity of Cape Cod. “We know local housing is a crisis, and to be able to support our communities through this partnership with Habitat for Humanity Cape Cod by providing local financing options for their clients is why we are a community bank,” said Lori Meads, President, and CEO of Seamen’s Bank.
Habitat for Humanity of Cape Cod has completed over 180 homes on Cape Cod and is currently building in Brewster, Dennis, and Wellfleet. Additional builds are planned for Yarmouth, Marstons Mills, Falmouth, Brewster, Orleans, and Sandwich. Qualifying families are selected via drawing, and future homeowners contribute sweat equity, helping build their homes alongside local volunteers, then purchase their homes with an affordable mortgage. Habitat Cape Cod has been awarded nationally for building energy-efficient, affordable homes. All homes are deed-restricted to remain affordable in perpetuity. For more information, visit habitatcapecod.org.
