DALLAS, March 13, 2017 /PRNewswire/ -- 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.1
"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.
PrimeLending, a PlainsCapital Company, is a national residential mortgage originator. Since 2012, PrimeLending has been listed as a top 10 mortgage lender in the nation in purchase units.2 Offering fixed-rate, adjustable-rate, FHA, VA, USDA and jumbo home loans, refinancing and relocation programs, PrimeLending is authorized to make loans in 50 states and the District of Columbia. Founded in 1986, PrimeLending is a member of the Hilltop Holdings Inc. (HTH) family of companies. More information at PrimeLending.com.
1Certain restrictions apply. Not available in all areas. Please contact your PrimeLending loan officer for more details.
2Ranked by Marketrac® for purchase units nationally for 2012-2016.
NEIGHBORHOODEDGESM is a service mark of PrimeLending, a Plains Capital Company.
All loans subject to credit approval. Rates and fees subject to change. Mortgage financing provided by PrimeLending, a PlainsCapital Company. Equal Housing Lender. ©2017 PrimeLending, a PlainsCapital Company.
PrimeLending, a PlainsCapital Company (NMLS:13649) is a wholly owned subsidiary of a state-chartered bank and is an exempt lender in the following states: AK, CO, CT, DE, FL, GA, IA, ID, KS, KY, LA, MN, MO, MS, MT, NC, NE, NV, OH, OK, PA, SC, SD, TN, TX, UT, VA, WI, WY. Licensed by: AL Lic. No. 21004; PrimeLending, a PlainsCapital Company, 18111 Preston Rd, #900, Dallas, TX 75252, Phone: 888-812-2711, Ark. Lic. No. 105190; AZ Lic. No. BK 0907334; Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act - Lic. No. 4130996; D.C. Lic. No. MLB13649; HI Lic. No. HI-13649; Illinois Residential Mortgage Licensee MB.6760635; IN Secy. of State-Securities Div. – Indiana-SOS Loan Broker License; MD Dept. of Labor, Licensing & Regulation - lender lic no. 11058; ME Lic. No. SLM8285; PrimeLending, a PlainsCapital Company, MA Lender License No. MC13649; MI Lic. Nos. FR 0018489 and SR 0012527; ND Lic. No. MB101786; Licensed by the New Hampshire Banking Department – Lender Lic. No. 14553-MB; NJ Lic. No. 0803658; NM Lic. No. 01890; PrimeLending, a PlainsCapital Company, 2000 Winton Road Bldg. 1 #102 Rochester, NY 14618, Licensed Mortgage Banker - NYS Department of Financial Services Lic. No. B500999; PrimeLending, a PlainsCapital Company, Oregon Lic. No. ML-5260; Rhode Island Licensed Lender, Mortgage Banker Lic. No. 20102678LL and Broker Lic No. 20102677LB; VT Lender Lic. No. 6127 and Broker Lic. No. 0964MB; PrimeLending, a PlainsCapital Company, WA Lic. No. CL-13649; WV Lender Lic. No. ML31704 and Broker Lic. No. MB-31703. V120816
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/neighborhoodedgesm-closing-cost-assistance-program-allocates-more-than-1-million-to-primelending-mortgage-borrowers-300422602.html