KEYBANK LAUNCHES NEW PROGRAM TO HELP HOMEBUYERS WITH CLOSING COSTS
Cleveland-headquartered KeyBank (NYSE: KEY) has launched KeyBank Neighbors First Credit, the third in its series of Special Purpose Credit Programs designed to help borrowers achieved homeownership.
According to the company, KeyBank Neighbors First Credit is designed for homebuyers in underserved communities and provides credits up to $5,000 to be used for closing costs and to prepay costs that may come with a new home. To qualify, a borrower must finance the purchase of an owner-occupied home through a residential mortgage with KeyBank and be located in an eligible community located in KeyBank’s retail 15-state footprint plus Florida.
“The Neighbors First Credit is the latest in a series of steps we are taking to help the communities, in which we live and work, thrive,” said Dale Baker, president of KeyBank Home Lending. “At KeyBank helping all residents have equal access to homeownership is a priority. To do our part, KeyBank is reducing the barriers of homeownership through responsible lending products and services, educational support, and direct investment into the diverse communities we serve.”