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City of York, Fulton Bank to revitalize city.

BANKING AND CREDIT NEWS-April 17, 2017-City of York, Fulton Bank to revitalize city

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York, PA Mayor C. Kim Bracey has announced a partnership between the City of Yorkand Fulton Bank, a subsidiary of Fulton Financial Corporation (NASDAQ: FULT), the company said.

The partnership will provide mortgage assistance to city employees, along with special banking benefits.

As part of the partnership, city employees will have access to Fulton's Homebuyer Advantage Plus Mortgage program for the purchase of a primary residence. The program offers competitive interest rates and allows qualified homebuyers to finance 97% of the home, receive up to 6% in seller assistance, and allows them to be exempted from the Private Mortgage Insurance (PMI) requirement.

For income-eligible individuals, the program also can be combined with other down payment and closing cost assistance, such as the Closing Cost Assistance Program, administered by Operation HOPE, which offers eligible homebuyers up to USD 2,500 toward closing costs.

Both the Homebuyers Advantage Plus Mortgage program and Closing Cost Assistance Program are part of the Fulton ForwardTM initiative, which helps to advance underserved communities by promoting affordable housing, financial literacy, and economic development in low- to moderate-income communities.

Fulton Bank is one of six subsidiary banks of Fulton Financial Corporation, a USD 19bn financial holding company headquartered in Lancaster, PA. Fulton Bank operates more than 100 branches throughout Pennsylvania, Delaware and Virginia. The Fulton ForwardTM program promotes affordable housing, education and financial literacy, and economic development in low- to moderate-income communities.

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Publication:M2 Banking & Credit News (BCN)
Date:Apr 17, 2017
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