Emergency Assistance Funds
The City of Boston-SEIU Local 888 Housing Trust provides Boston members with a housing-related award that consists of a $1,000 grant and a $3,000 loan.
The award is designed to assist with a housing-related emergency when a Boston member’s household experiences a loss of income, due to unemployment of a spouse/partner, illness, death of a spouse/partner, or an unanticipated home repair or loss of rental income. Documentation of the emergency will be required at the time of the application and may include but not limited to repair estimates, bills, and/or a signed affidavit describing the emergency.
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Rental Assistance
The City of Boston – SEIU Local 888 Housing Trust Fund (“the Trust”) enables members to receive an award from the City of Boston Credit Union, up to a maximum of $4,000* for downpayment on a new apartments in the City of Boston. The Credit Union will not require credit checks or co-signers for these loans. The Trust will provide a cash grant up to a maximum of $1,000 and will pay interest associated with the loan. Repayment of the loan principal will be through payroll deductions to the Credit Union.
This benefit is designed to be used to cover the expense of renting a new apartment. The award shall be up to a maximum of $4,000, which can be a combination of first and last month’s rent and security deposit. Documentation of the new rental will be required at the time of the application, along with a signed Application and Affidavit.
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Rental Assistance Eligibility Criteria
Rental Assistance Application
Homeownership Benefit Eligibility Criteria
The City of Boston – SEIU Local 888 Housing Trust Fund (“the Trust”) can provide a benefit of $10,000[1] to help you buy your first home.
You are eligible for this benefit, if you:
- Agree to take an approved Homebuyer 101 course prior to receiving this benefit or have purchased a home between July 6, 2004 and March 15, 2007 and agree to take a Home Owner 201 course
- Are currently a member and have been in good standing of SEIU Local 888, for at least one year
- Base yearly income (not your household’s total income) is less than $69,400 per year
- You have not had an ownership interest in residential property within the past five years[2]
- You intend to occupy the home you purchase within the City of Boston[3]
- You agree to attend a free Home Owner 201 course within a year after you purchase the house
- Prior to receiving the homebuyer benefit, you must have completed an approved Homebuyer 101 course. This course, offered by both the City of Boston and others, provides useful information on homebuying. For a schedule of courses and locations contact the Boston Home Center at 26 Court Street or visit them online at www.bostonhomecenter.com. The course sponsor will provide you with a certificate of completion, which you will need to access the Trust fund. For members who purchased homes between July 6, 2004 and March 15, 2007, the Trust will require that they take a Home Owner 201 course, not the Homebuyer 101 course. Information on the Home Owner 201 course can also be accessed on line at www.bostonhomecenter.com.
Applicants are strongly encouraged to secure mortgages from lenders classified by the Trust as “City of Boston – SEIU Local 888 Housing Trust Fund Participating Lenders”.
If you choose to finance your home through a lender not included on this list, you will be encouraged to meet with a financial assistance counselor at the Boston Home Center.
This benefit is a $10,000, 0% interest loan, with the repayment deferred until the transfer or sale of the property or until the property is no longer your primary residence.
This loan is secured through a promissory note and a mortgage on the property.
Eligible Uses for Home Ownership Assistance
The Trust funds can be used to help with downpayment and closing costs, including the costs of appraisals, legal fees, recording fees, etc. The best use of these funds should be discussed with your mortgage lender.
The Application Process
1) There are three forms you must complete to be eligible for home ownership assistance from the Trust; they can be downloaded here:
These forms are also available at the SEIU 888 office. Along with these forms you must submit a copy of your most recent pay stub.
SEIU staff will provide documentation that you are a member in good standing. If you are deemed to be an eligible member, you will receive a reservation letter from the Trust reserving your $ 10,000 home buying benefit contingent on the purchase and finance of an eligible property in Boston. This letter is valid for six (6) months from the date of issue.
2) At least four weeks before you plan to close on your new home you must submit to the Trust:
- A copy of a fully executed Purchase and Sale agreement for a home in Boston
- A copy of your mortgage commitment letter
- The anticipated closing date on your new home
- The name, address and phone number of the attorney who will close your loan for the mortgage lender, when available
- A copy of the Certificate of Completion from an approved Homebuyer 101 course.
3) The Trustees will then vote on your deferred loan.
4) If approved, a Trust Fund check will be made out to you and your mortgage lender. It will be mailed to your lender or closing attorney before your scheduled closing. At your closing, you will sign the Note and Mortgage and sign the Trust check over to the mortgage lender.
Housing Assistance for Member Layoff
(This is a new program) The City of Boston – SEIU 888 Housing Trust will provide members with a Layoff Grant of $1,500. To receive this benefit, a member must:
- Submit a copy of layoff notice
- Submit documentation verifying that he/she has been separated from employment due to layoff
- Submit most recent pay stub
- Be deemed in good standing with the union for at least one year
The purpose of this benefit is to help reduce a portion of housing-related financial hardship incurred when a member who resides in the City of Boston has been separated from employment due to layoff. If approved, any outstanding balance from a Housing Trust loan will be paid off first through this grant.
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Housing Assistance for Member Layoff Application
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[1] Subject to loan availability.
[2] If you have owned property, there may be extenuating circumstances, as determined by the Trustees, which allow you to receive this benefit.
[3] Or you have purchased a home in Boston after July 6, 2004 and you now occupy that home.
Boston Home Center Offers Assistance to Boston Homebuyers and Owners
The Boston Home Center (BHC) provides first-time homebuyers with educational courses and financial assistance, and markets homes developed for income-eligible, first-time homebuyers. The BHC also assists homeowners with education and foreclosure prevention counseling, and encourages strong, stable neighborhoods by providing residents with financing and technical assistance to maintain and improve their homes. Click here to find out more.