NeighborhoodEdge SM Closing Cost Assistance Program Allocates more than $1 Million to PrimeLending Mortgage Borrowers
National home lender PrimeLending, a PlainsCapital Company, announces that its proprietary NeighborhoodEdgeSM closing cost assistance program has helped provide more than $1 million in closing credits to homebuyers since the program’s May 2015 launch.
NeighborhoodEdgeSM offers closing cost credits to low- and moderate-income PrimeLending homebuyers who may need financial assistance. The program provides qualified borrowers up to $1,500 or $2,000 in closing cost assistance, depending on their income and the location of the property they wish to buy.
“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 for PrimeLending. “It is so rewarding to see how NeighborhoodEdgeSM opens up homeownership to deserving families by providing tangible savings when it really counts.”
NeighborhoodEdgeSM Program Gaining Traction Nationally
Initially only offered in Texas, the program became open to eligible borrowers in all 50 states, plus the District of Columbia, on December 1, 2016. Since the national expansion roughly three months ago, NeighborhoodEdgeSM allocated nearly $500,000 in closing cost credits, quickly doubling the program’s total distributions to surpass the $1 million mark.
“We definitely see the signs that the American economy and consumer confidence is on the rise,” said Thompson. “It’s exciting for us to play a role in helping more consumers become homeowners and in revitalizing neglected communities across the country.”
For more information and complete details about the NeighborhoodEdgeSM closing cost assistance program, please contact a PrimeLending loan officer at a branch near you.