August 9, 2022 by Premium Mortgage Corporation
Achieving the dream of homeownership matters to our neighbors and neighborhoods. It helps create a foundation for families, unifies our communities, and empowers residents to put down roots. As a mortgage lender, we want to help make that dream a reality for all income levels—and that’s why we’ve established Building Homeownership. With the deployment of the program, Premium Mortgage Corporation will provide a $2,000 credit to homebuyers who earn 80% or less of the HUD median income within the neighborhood of the property they are looking to buy a primary residence. In total, we have committed to fund $350,000 in customer assistance.
A borrower can see if they’re eligible for Building Homeownership by clicking here and identifying the median income of the area. If a borrower qualifies, the $2,000 individual credit can go toward closing costs and/or prepaids on the mortgage, subject to product guidelines. The credit will be socialized by Premium Mortgage Corporation to consumers and professionals in the real estate community as our team identifies borrowers who are eligible for the program.
“As a mortgage lender, we know just how crucial homeownership can be to the strength and spirit of our neighborhoods and the community as a whole,” said Dave Gates, Chief Operating Officer at Premium Mortgage Corporation. “With Building Homeownership, we believe it’s Premium Mortgage Corporation’s obligation to assist with the cost of home purchases and give residents a helping hand toward achieving the dream of homeownership.”
It’s important to directly enrich communities in our lending area and continue to work towards equity among many income levels and socioeconomic backgrounds. By establishing Building Homeownership, we aim to illustrate the impact of growing the number of homeowners in the communities we serve.
Funds for Building Homeownership will be limited by market, so act fast to take advantage of the $2,000 credit before it’s too late.
Chart accurate as of 7/10/23