Dallas, TX (March 17, 2023) – National home lender PrimeLending®, a PlainsCapital Company, has relaunched its proprietary NeighborhoodEdge® closing cost assistance program. NeighborhoodEdge® offers closing cost credits to low- and moderate-income PrimeLending homebuyers in key underserved markets who may need financial assistance. The program provides qualified borrowers up to $2,000 in closing cost assistance1, depending on their income and the location of the property they wish to buy.
"In many areas of the country, there is a shortage of affordable homes on the market, especially for first time homebuyers with low- to moderate-incomes," said Latonia Donaldson, SVP, National Multicultural Lending Director for PrimeLending. "We’re thrilled to offer NeighborhoodEdge as a means to open up homeownership to deserving families by providing tangible savings when it really counts."
The lack of homebuying opportunities among some demographic groups has led to a homeownership gap in America. According to Statista(Link opens in a new tab), 74% of white, non-Hispanic people in the United States owned homes while the homeownership rates among Hispanic and Black people were 48.4% and 44.2%, respectively. NeighborhoodEdge® exists to help level the playing field for all homebuyers helping to make homebuying more affordable for eligible borrowers.
“We believe homeownership is an integral part of the American Dream and leads to stronger, healthier communities and families,” said Donaldson. "It's exciting for us to play a role in helping more consumers become homeowners and in revitalizing neglected communities across the country."
For more information and complete details about the NeighborhoodEdge® closing cost assistance program, please contact a PrimeLending loan officer at a branch near you.
PrimeLending, a PlainsCapital Company, is a national home lender combining personal guidance and local expertise with fast service, more choices and the flexibility to meet homeowners’ unique needs. We’re relentlessly focused on empowering our customers to boldly pursue their homeownership goals, whether they’re looking to buy, refinance or renovate a home. The PrimeLending team works alongside our customers in all 50 states, helping them make smart home financing decisions and have a rewarding experience along the way. Delivering on this promise for more than 35 years, we’re proud to consistently earn a 96% customer satisfaction rating2. PrimeLending is a wholly owned subsidiary of PlainsCapital Bank, which in turn is a wholly owned subsidiary of Hilltop Holdings Inc. (NYSE: HTH). More information at PrimeLending.com. Equal Housing Lender.
1Qualified homebuyers may receive up to $2,000 in closing costs assistance if property is located within PrimeLending eligible market and homebuyer's income is equal to or less than 100% of the area median income based on HUD guidelines. Additional restrictions may apply. Savings only applies to direct originations of first lien conforming FHA, Conventional, USDA or VA mortgages for purchase transactions only, and is not available on loans obtained through mortgage brokers. Only one offer per loan transaction is available, and savings may not be combined with other programs. Savings will reflect on Closing Disclosure at closing.
2Survey administered and managed by an independent third party following loan closing. 96% satisfaction rating refers to the average rating our customers have given our loan officers for the period 01/01/2022-12/31/2022.
All loans subject to credit approval. Rates and fees subject to change. ©2023 PrimeLending, a PlainsCapital Company (PrimeLending). (NMLS: 13649) Equal Housing Lender.