Premium Mortgage Corporation pledges $2,000,000 for those buying homes in underserved areas in 2021

ROCHESTER, N.Y., April 13, 2021 /PRNewswire/ — Premium Mortgage Corporation is proactively leading the way with helping to build homeownership. In…

ROCHESTER, N.Y., April 13, 2021 /PRNewswire/ — Premium Mortgage Corporation is proactively leading the way with helping to build homeownership. In pursuit of that goal, they have set aside a credit for buyers in certain target census tracts. “We recognize needs often go unfulfilled in these communities and will be implementing an action plan with our first step being providing $2,000 lender credits to home buyers up to a total of $2,000,000 for the calendar year 2021,” said Mike Donoghue, President, Premium Mortgage Corporation.

As part of this initiative, Premium Mortgage Corporation will be providing a $2,000 credit toward closing costs and/or prepaids if a borrower is purchasing a property located within a Majority Minority Census Tract. Each month, 20% of the prior month’s production will be available for use. For example, if Premium Mortgage Corporation closes 400 loans in February, 60 credits of $2,000 each will be available in March.

Premium Mortgage Corporation feels it is important to directly interact with the communities in their lending area and continue to work towards equity. To that end, they will be reaching out to different community focused organizations to offer educational opportunities. They will also have Homebuyer and Credit Counseling services available.

To learn more about the eligible areas, please visit this link:

https://www.premiummortgage.com/2000credit 

**Must obtain financing through Premium Mortgage Corporation to receive the $2,000 credit. Not all buyers will qualify. This is not an offer to lend. A loan is not guaranteed. Must be Primary Residence. Contact Premium Mortgage Corporation for further information about rates and fees.

About Premium Mortgage Corporation:

Headquartered in Rochester, New York, Premium Mortgage Corporation serves residential real estate markets across upstate New York, Florida, Vermont, Massachusetts, Connecticut, Pennsylvania, and Ohio. Since opening in 1999, the company has grown to over 200 employees and attributes its success to matching mortgage financing to individual clients’ needs, while also giving excellent customer service to real estate agents in the community. For ongoing mortgage news, please visit: www.premiummortgage.com and follow Premium on Facebook, LinkedIn, and Instagram.

 

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SOURCE Premium Mortgage Corporation