Unlock Homeownership: KeyBank's Initiatives for Financial Inclusion and Mortgage Accessibility
KeyBank remains dedicated to supporting clients on their unique financial paths towards homeownership by offering valuable resources and educational opportunities. Dale Baker, President of KeyBank Home Lending, emphasizes their commitment to assisting clients in reaching their financial aspirations. KeyBank continues to enhance accessibility and affordability in the homebuying process, especially as a considerable portion of Americans perceive homeownership as unattainable, according to KeyBankâs 2024 Financial Mobility Survey.
To aid in this mission, KeyBank has introduced several initiatives:
To aid in this mission, KeyBank has introduced several initiatives:
- The KeyBank Home Buyer Credit provides eligible homebuyers in qualified communities with a $5,000 credit to cover closing costs and pre-paid fees associated with home financing.
- The Key Opportunities Home Equity Loan offers favorable terms for borrowers with qualifying properties to refinance at lower rates, consolidate debt, fund home improvements, or access equity when necessary.
- The KeyBank Neighbors First Credit aims to support homebuyers in eligible areas within Key's footprint and in Florida by offering up to $5,000 in credit for closing costs and pre-paid fees.
- Collaborations with the National Association of Hispanic Real Estate Professionals (NAHREP) and Operation HOPE focus on advancing homeownership through financial education.
- KeyBank's commitment of over $1 million in 2023 towards homebuyer education and community support, along with a pledge to invest more than $25 million over five years starting in 2022, underscores its dedication to increasing mortgage lending in majority-minority neighborhoods through grants, fee waivers, marketing, and branch expansions.
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