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Making Home Ownership Dream a Reality

October 20, 2014

CONTACT:    Patricia Koczera, Senior Vice President, Retail Banking,  978.322.7030, pkoczera@sagebank.com

Sage Bank Invests in Making Home Ownership Dream a Reality.
Several Community Partners involvement to assist First Time Home Buyers

Lowell, MA –Sage Bank announced today the successful completion of an interdependent partnership that allowed First Time Home Buyer, Eliezer Rosario to realize the dream of homeownership.  Working with Sage Bank Loan Originator, Pilar Naveo, from the Methuen Sage Bank Loan Center, Mr. Rosario recently purchased a two-family home at 47-49 Coolidge St. in Lawrence MA.

Mr. Rosario’s realtor, Roberto Ciccarelli of Ciccarelli Homes knew of Ms. Naveo’s and Sage Bank’s experience and knowledge of the Federal Home Loan Bank’s Down Payment Assistance Program as well as the MassHousing Purchase and Rehab Loan and referred him to her.

Ms. Naveo advised and qualified Mr. Rosario for the MassHousing Purchase and Rehab loan availability for this purchase. She further recommended the Lead Paint Abatement Program offered through Mill Cities Communities (MCCI). Added to this was a third recommendation of a Down Payment Assistance Program that Mr. Rosario qualified for from the Federal Home Loan Bank. 

“On behalf of all the MassHousing staff, I congratulate Mr. Rosario on the purchase of his home,” said MassHousing Executive Director Thomas R. Gleason.  “We are delighted to work with Sage Bank, one of our top partner lenders, to provide affordable home mortgage loans that not only provide housing for families but also help to bring distressed properties back to life and improve the quality of life for surrounding neighborhoods.”

“I thank Sage Bank and Pilar, for helping me to buy my first house and guiding me since day one.  She made a correct assessment of my chances by putting me in the Mass Housing program. I could feel that I was more than a transaction. I felt respected and
valued as a customer, what was a plan and a dream is now a reality, I have my first home” states Mr. Rosario.

I also want to thank Roberto Ciccarelli of “Ciccarelli Home’s” for putting me in the hands of Sage Bank, and for making me feel confident at all times.

“Sage Bank’s participation in down payment assistance and rehab loan programs provide a great opportunity for borrowers to purchase in the Merrimack Valley area, especially for those older properties that may need some renovation prior to the borrower moving into their new home”, according to Michael Breda, Senior Vice President, Residential and Consumer Lending for Sage Bank.

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About Sage Bank                                                                  

With assets in excess of $200 million, Sage Bank has been serving the banking needs of the Greater Lowell community since 1885. With two full service Banking Centers, a Lending Center and Operations Center in Lowell, MA, along with 14 Residential Lending Centers throughout Southern New Hampshire, Massachusetts, and Connecticut, Sage Bank offers customers commercial, residential, and consumer products and services. All deposits are fully insured by the Federal Deposit Insurance Corporation (FDIC) and the Shareholder Insurance Fund (SIF).