KeyBank, NeighborWorks and The Fair Housing Center Celebrate First Closed Loan in Program to Expand Access to Home Loans for Single-Family Properties Across Toledo
Published 5 minutes ago
Proposed by KeyBank
TOLEDO, Ohio, June 22, 2022 /CSRwire/ — KeyBank, NeighborWorks and The Fair Housing Center celebrated the first loan closing under a new program to make financing single-family homes easier and more affordable for people with low incomes. low to middle income and families throughout the city of Toledo.
Cynthia and Larry Robinson, clients of NeighborWorks Financial Wellness Center, are the first homeowners to close their loan by financing it through the unique loan program. As clients, the Robinsons received homebuyer training and financial counseling before applying for the home loan. The house the couple are moving into has been recently renovated with accessibility features for their disabled child.
Pictured: Cynthia and Larry Robinson receive gifts to celebrate their first home, funded by a new loan program in the city of Toledo.
KeyBank invested $3 million in the program in fall 2021, and NeighborWorks is responsible for administering these funds.
“This type of program is critical to the revitalization of the city of Toledo,” said Jim Hoffman, president of the Northwest Ohio Market at KeyBank. “At Key, we remain committed to connecting our neighbors to the opportunities that allow them to thrive and this is one of the many ways we can do that. We look forward to many more success stories with this program and we are excited to partner with organizations that are proud of this city.
KeyBank’s investment is estimated to help 60 mortgage and refinance loans at below-market rates for borrowers primarily in LMI neighborhoods. To be eligible, borrowers must have an annual income not exceeding 80% of the region’s median income.
“NeighborWorks Toledo is honored to have played a role in the Robinson family’s success as a homebuyer,” said William Farnsel, CEO of NeighborWorks. “The Robinsons are committed to becoming the newest part of the fabric of the Englewood neighborhood.”
Pictured: Representatives from KeyBank, NeighborWorks, Fair Housing Center and the City of Toledo gather outside the Robinson family home to celebrate the new loan program.
Learn more about KeyBank’s efforts to support the program here:
Local habitat, financial partnerships help access to property | Blade of Toledo
Toledo Organizations Celebrate Successful Purchase Under Home Loan Program | NBC24
Local Partnership Helps Families Access Homeownership | 13abc
About NeighborWorks Toledo Region
NeighborWorks America® is the nation’s preeminent leader in affordable housing and community development, working to create opportunities for low-income people to live in affordable homes in safe, sustainable neighborhoods that are healthy places to live. families. NeighborWorks TOLEDO REGION restores and revitalizes NeighborWorks® neighborhoods, primarily to benefit current and future residents, by providing services and programs that renew pride, stimulate reinvestment and restore trust.
About the Fair Housing Center
The Fair Housing Center will be a visible leading force in the prevention, correction and elimination of discriminatory housing practices. To achieve our vision, the Center works as a trusted community resource, engaging in education and awareness, advocacy for anti-discrimination housing policies, mediation, research and investigation, and advocacy. ‘application.
The Fair Housing Center is a nonprofit civil rights agency that promotes housing choice, the creation of inclusive communities of opportunity, and the protection and expansion of fair housing rights to support strong communities. and free from discrimination in housing.
The work that formed the basis of this publication was supported by funding under a grant from the United States Department of Housing and Urban Development. The substance and the results of the work are dedicated to the public. The author and publisher are solely responsible for the accuracy of the statements and interpretations contained in this publication. Such interpretations do not necessarily reflect the views of the federal government.
EQUAL OPPORTUNITY SPECIALISTS
OPERATIONAL MEMBER OF THE NATIONAL FAIR HOUSING ALLIANCE
KeyCorp’s roots go back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest banking financial services companies, with assets of approximately $176.2 billion as of March 31, 2021. Key provides deposit, lending, cash and investment management to individuals and businesses in 15 members under the name KeyBank National Association through a network of approximately 1,100 branches and more than 1,400 ATMs. Key also offers a wide range of sophisticated corporate and investment banking products, such as advice on mergers and acquisitions, public and private debt and capital, syndications and derivatives to middle market companies. in selected industries across the United States under the trade name KeyBanc Capital Markets. For more information, visit https://www.key.com/. KeyBank is an FDIC member.