PrimeLending, a PlainsCapital company, will soon begin offering closing cost assistance for low- and moderate-income homebuyers nationwide.
PrimeLending began offering the closing cost assistance program, which is called NeighborhoodEdge, in May 2015. Previously, the program was only available to borrowers in Texas, but now PrimeLending is taking the program national.
According to the lender, the NeighborhoodEdge program offers closing cost credits to low- and moderate-income homebuyers who may need financial assistance to purchase a house.
Additionally, the program helps promote homeownership in low- and moderate- income areas.
Under the program, qualified borrowers could be eligible to receive up to $1,500 or $2,000 in closing cost assistance, dependent on their income and the location of the property they want to buy.
“We're thrilled about the expansion of this program,” says Latonia Donaldson, PrimeLending's vice president and director of multicultural lending. “Now that it will be available in all states, the dream of owning a home will be able to become a reality for many Americans who need some extra support.”