Glastonbury lender United Bank says its new PATH Plus program will qualify more potential low- and moderate-income homebuyers while lifting their financial literacy to enable them to stay in them.
United announced Tuesday that the 12-month program guides eligible participants through the three keys to successful homeownership – education, savings and mortgage benefits.
Participants can only enroll via Connecticut and Massachusetts housing-affiliated nonprofits, the bank said.
United spokesman Adam Jamael said PATH Plus is consistent with the bank’s aim to be an effective community partner.
However, such programs are another way for lenders like United to stand out in the highly competitive home-mortgage lending marketplace.
PATH participants who complete the program can apply for a United mortgage, including 100 percent financing, and a closing-cost credit of up to $1,200.
For more information, contact Tymina Follins, United’s Connecticut region community outreach officer, at (860) 512-2452 or tfollins@bankatunited.com. For nonprofits in the Massachusetts region, contact United’s Moyah Smith at (413) 787-1271 or msmith@bankatunited.com.
