The program is focused on offering closing cost credits to low-and-moderate income borrowers
PrimeLending, a national home lender, announced its NeighborhoodEdge closing-cost assistance program has helped homebuyers with more than $1 million in closing credits since it started in May 2015, according to a news release.
Closing-cost credits are offered to low- and moderate-income PrimeLending homebuyers, giving qualified borrowers up to $1,500 or $2,000 in closing costs.
"In most areas of the country, there is a shortage of affordable homes on the market, especially for first time homebuyers with low to moderate incomes," said Steve Thompson, executive vice president of national production at PrimeLending. "It is so rewarding to see how NeighborhoodEdge opens up homeownership to deserving families by providing tangible savings when it really counts."
NeighborhoodEdge was first offered in Texas, and became available to borrowers nationwide in December. Since then, the program has allotted almost $500,000 in closing-cost credits.
"We definitely see the signs that the American economy and consumer confidence is on the rise," Thompson said. "It's exciting for us to play a role in helping more consumers become homeowners and in revitalizing neglected communities across the country."
Related stories:
Morning Briefing: Low income homebuyers more likely to pay cash?
Global bank accused of “discriminatory” home mortgage lending practices in U.S.
Closing-cost credits are offered to low- and moderate-income PrimeLending homebuyers, giving qualified borrowers up to $1,500 or $2,000 in closing costs.
"In most areas of the country, there is a shortage of affordable homes on the market, especially for first time homebuyers with low to moderate incomes," said Steve Thompson, executive vice president of national production at PrimeLending. "It is so rewarding to see how NeighborhoodEdge opens up homeownership to deserving families by providing tangible savings when it really counts."
NeighborhoodEdge was first offered in Texas, and became available to borrowers nationwide in December. Since then, the program has allotted almost $500,000 in closing-cost credits.
"We definitely see the signs that the American economy and consumer confidence is on the rise," Thompson said. "It's exciting for us to play a role in helping more consumers become homeowners and in revitalizing neglected communities across the country."
Related stories:
Morning Briefing: Low income homebuyers more likely to pay cash?
Global bank accused of “discriminatory” home mortgage lending practices in U.S.
