YORK, Pa.--(BUSINESS WIRE)--
During a press conference held today at York City Hall, Mayor C. Kim
Bracey announced a partnership between the City of York, PA and Fulton
Bank, a subsidiary of Fulton Financial Corporation (NASDAQ: FULT). The
partnership will provide mortgage assistance to city employees, along
with special banking benefits.
As part of the partnership, city employees will have access to Fulton’s Homebuyer
Advantage Plus® Mortgage program for the purchase of a
primary residence. The program offers competitive interest rates and
allows qualified homebuyers to finance 97 percent of the home, receive
up to 6 percent in seller assistance, and allows them to be exempted
from the Private Mortgage Insurance (PMI) requirement.
For income-eligible individuals, the program also can be combined with
other down payment and closing cost assistance, such as the Closing Cost
Assistance Program, administered by Operation HOPE, which offers
eligible homebuyers up to $2,500 toward closing costs.
Both the Homebuyers Advantage Plus® Mortgage program and
Closing Cost Assistance Program are part of the Fulton
ForwardTM initiative, which helps to advance underserved
communities by promoting affordable housing, financial literacy, and
economic development in low- to moderate-income communities.
“A home is the largest purchase most people will make, and when you in
invest in a home, you are also investing in the community where that
home is located,” said Craig Roda, chairman and CEO of Fulton Bank.
“We’re proud to partner with the City of York to support homeownership
and community revitalization. Our goal is to help city employees realize
the dream of homeownership in this great city. We’re also pleased to
offer a menu of additional banking benefits for city employees who bank
with Fulton.”
In addition to mortgage benefits, because the City of York is a Fulton
customer, its employees will have access to Fulton’s TEAM Advantage
Banking Program. Some of the highlights of this program include:
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No minimum balance interest checking account
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Online banking and bill pay
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Visa Bonus Rewards Card
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Discounts on personal checks and safe deposit boxes
Another benefit of the TEAM program is a ¼ percent mortgage loan
settlement credit of up to $1,000 toward settlement charges at home
closing.
“I am grateful for our partnership with Fulton Bank, which helps provide
the opportunity for our City of York employees to gain an important
piece of the American Dream: homeownership. This collaboration
underscores the appreciation and value that we place on our employees
for consistently ensuring that the City of York is run effectively and
efficiently,” stated Mayor Bracey.
Fulton Bank, N.A. Member FDIC. Equal Housing Lender. Subject to
credit approval. Closing cost assistance program is administered by
Operation HOPE, a 501(c)3 non-profit organization, in collaboration with
Fulton Mortgage Company. Any financial assistance received from
Operation HOPE may qualify for Federal income tax purposes as a
nontaxable gift. Please refer to IRS Publication 525 for further
guidance. Fulton Mortgage Company, Fulton Bank, N.A., and other
subsidiaries of Fulton Financial Corporation are not affiliated with
Operation HOPE nor City of York.
Fulton Bank is one of six subsidiary banks of Fulton Financial
Corporation, a $19 billion financial holding company headquartered in
Lancaster, PA.Fulton Bank operates more than 100 branches throughout
Pennsylvania, Delaware and Virginia. The Fulton ForwardTM
program promotes affordable housing, education and financial literacy,
and economic development in low- to moderate-income communities.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170413006160/en/
Fulton Bank
Nicole Wamsley, 717-291-2831
nwamsley@fult.com
Source: Fulton Bank