Advertisement
YOU ARE HERE: LAT HomeCollections

VENTURA COUNTY ROUNDUP / BARBARA MURPHY

Bank Offers Grants to Low-Income Home Buyers

July 09, 1996|BARBARA MURPHY

First Nationwide Bank is offering a grant of up to $2,500 for the purchase of a home to qualified low- and moderate-income borrowers.

The Lender Grant Program will be available for all loan products offered by the bank and its mortgage subsidiary, First Nationwide Mortgage Corp., through Dec. 31.

First Nationwide has branches in Oxnard, Thousand Oaks and Ventura.

Borrowers who qualify for the program may apply the grant toward closing costs and other related loan fees. There are certain requirements to be eligible for the program, including income level and location of the property to be purchased.

"We've found that the biggest barrier to home ownership is saving enough money to pay for all costs associated with taking on a mortgage," said Dorothy Broadman, senior vice president and community lending manager. "Making monthly payments hasn't proven to be as difficult. The grant should help make home ownership a reality for many more people in the neighborhoods we serve."

Advertisement
Los Angeles Times Articles
|
|
|