City of York Partners with Fulton Bank to Revitalize City and Deliver Affordable Housing to City Employees
14 April 2017 - 6:19AM
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:
- No minimum balance interest checking
account
- Online banking and bill pay
- Visa Bonus Rewards Card
- 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 BankNicole Wamsley,
717-291-2831nwamsley@fult.com
Fulton Financial (NASDAQ:FULT)
Historical Stock Chart
From Apr 2024 to May 2024
Fulton Financial (NASDAQ:FULT)
Historical Stock Chart
From May 2023 to May 2024