Offers Down Payment Assistance and More
Boston, MA (BlackNews.com) — OneUnited Bank recently launched the Economy Boost Program that provides up to $1,200 towards closing costs for a home loan, to qualified applicants, in Boston, Miami and Los Angeles. In its ongoing effort to assist consumers in â€œboostingâ€ their budgets, OneUnited is pleased to announce several new programs for qualified applicants including:
EQUITY BUILDER PROGRAM – DOWN PAYMENT ASSISTANCE*
OneUnited Bank was recently approved for the Federal Home Loan Bank (FHLB) Equity Builder Program. OneUnited is offering down payment assistance of up to $10,000 for firstâ€time home buyers who meet certain eligibility requirements. MULTIâ€FAMILY LOANS – OneUnited Bank is among the top 100 multiâ€family lenders in the country, lending on properties with 5 to 50 units, including HUD Affordable Housing Units (Section 8).
HOME LOAN PROGRAM
OneUnited Bank is expanding its Home Loan Program, which focuses on homes with 1 to 4 units, in all of its markets.
ECONOMY BOOST – SAVE UP TO $1,200 IN CLOSING COSTS**
OneUnited Bank will pay up to $1,200 for the cost of appraisal, credit report, and other closing costs for owner occupied single family homes in Boston, Miami and Los Angeles, for qualified buyers. This offer can be combined with the Equity Builder down payment assistance.
In addition, OneUnited is rolling out its first ever national television advertising campaign in Boston, Miami and Los Angeles. â€œOneUnited is passionate about its mission to make our inner cities stronger by leveraging their spending power and reinvesting those funds into urban communities,â€ said Kevin Cohee, Chairman & CEO of OneUnited Bank. â€œOur nationwide ad campaign provides a greater platform for raising awareness of our many products and services designed to boost customer budgets and meet their personal needs.â€
For more information about OneUnited Bank and its services, visit the website at www.oneunited.com or call (877) Oneâ€United or (877) 663â€8648. To see the new advertisement, visit www.oneunited.com/TVad.
About OneUnited Bank
OneUnited Bank (www.oneunited.com), a Minority Depository Institution (MDI) and a Community Development Financial Institution (CDFI), is a nine time recipient of the Bank Enterprise Award from the U.S. Department of Treasury due to its focus on community development lending. Its mission is to be the premier bank serving urban communities by promoting financial literacy and offering affordable financial services. OneUnited has grown through a combination of organic development and by acquiring community banks that share its mission, including Boston Bank of Commerce in Boston, Massachusetts, Founders National Bank and Family Savings Bank in Los Angeles, California, and Peoples National Bank of Commerce in Miami, Florida.
*Households with incomes at or below 80% of the area median income (based on the location of the property) may qualify for the Equity Builder Program. Other requirements apply. Offer only available while FHLB funds last and are offered on a first come, first serve basis, so apply today!
**OneUnited Bank will provide a credit up to $1,200 at closing to cover costs for appraisal, credit report, processing, underwriting, loan documents, tax transcript, tax service, flood certification, and flood monitoring fees for an OneUnited Bank single family loan in Massachusetts, Miami and Los Angeles. Payment for these services may be requested upfront and reimbursed or credited at closing. This promotion is valid for loan applications received prior to September 30, 2012 for the purchase or refinance of an existing single family or condo in OneUnited Bankâ€™s lending areas in Massachusetts. One offer per household. Loan and credit qualifications apply. Please check with our representatives for our current annual percentage rate and full promotion rules.