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NEWS FOR IMMEDIATE RELEASE Media Contact: Barb Curto, VP, Marketing Manager Phone: (860) 448-4118 Email: bcurto@chelseagroton.com Chelsea Groton Bank To Participate in CHFA “Time To Own” Program GROTON, Conn. – Chelsea Groton is one of 12 lenders in Connecticut participating in the CT Housing and Finance Authority (CHFA) “Time To Own” forgivable down payment assistance program. The “Time to Own” program is being administered by CHFA on behalf of the Connecticut Department of Housing. The program offers down payment and closing cost assistance to low- and moderate-income first-time homebuyers who apply to CHFA’s First-Time Homebuyer program. Eligibility is contingent on being approved for and receiving a CHFA first mortgage loan. Eligible homebuyers may also take advantage of the CHFA Down Payment Assistance (DAP) loan, in addition to the Time To Own - Forgivable Down Payment Assistance loan program. “This program couldn’t have come at a better time for prospective homebuyers in the state of CT,” shared Matt Morrell, VP, Retail Lending Sales Manager at Chelsea Groton Bank. “Rates are rising, and low home inventory has meant many people are being priced out of buying. This program will provide an opportunity for low- and moderate-income individuals to be able to afford that home purchase. We’re happy to be able to offer this program to members of our community.” In addition to the CHFA Time To Own program, Chelsea Groton offers other affordable lending products through CHFA, the Veterans Administration (VA), Federal Housing Administration (FHA), US Department of Agriculture (USDA) and down payment assistance and grant programs, including FHLB Equity Builder, HDF SmartMove, and CHFA DAP. Visit www.chelseagroton.com/TimeToOwn for more information. About Chelsea Groton Bank Based in Groton, Conn., Chelsea Groton Bank is a full-service mutually owned bank with over $1.5 billion in assets. Chelsea Groton Bank’s products and services include consumer banking, business banking, mortgage and business lending, cash management, financial planning and financial education programming. With 14 branch locations throughout New London County and a Loan Production Office in Hartford County, Chelsea Groton Bank also provides online and mobile banking, 24-hour telephone banking, video banking, and nationwide ATM banking for individuals, families and businesses. To learn more, please visit www.chelseagroton.com. Member FDIC. Equal Housing Lender. NMLS Institution ID 402928.