RUTLAND, VT (April 27, 2017) – NBT Bank’s New England Regional President Matt Durkee announced that NBT will be offering its Home in the City Program in both Rutland and Burlington and is partnering with NeighborWorks® of Western Vermont and Champlain Housing Trust, respectively to assist first-time homebuyers in these two cities.
Announcing the pledge Durkee said, “NBT Bank is committed to the communities we serve and actively invests in them to help them grow and prosper. Our Home in the City mortgage loan program and partnerships with agencies like NeighborWorks and Champlain Housing Trust encourages homeownership in cities like Rutland and Burlington. In addition to homeowner education, the program offers potential homebuyers the opportunity to meet with an NBT Bank loan originator to help them determine the maximum amount of a home mortgage they qualify to finance and assist with the application process for a Home in the City loan.”
The loan program provides:
- 95% financing for the purchase of a one or two-family, owner-occupied residence;
- An interest rate reduction of 0.25% for eligible first-time homebuyers who complete homebuyer education classes; and
- No mortgage insurance or additional monthly payments required.
Participants may complete a homebuyer education class through Champlain Housing Trust or NeighborWorks. The classes help prepare them for the responsibilities of home ownership and cover topics like home maintenance, how to select a realtor and mortgage lender, credit and debt management and qualifications for down payment and closing cost assistance grants.
For more information on NBT Bank’s Home in the City Program, contact NBT Bank at 800.628.2265. To register for a homebuyer class, contact Champlain Housing Trust at 802.862.6244 or Neighborworks at 802.438.2303.
About NBT Bank
NBT Bank offers personal banking, asset management and business services through a network of 154 banking locations in six states, including New York, Pennsylvania, Vermont, Massachusetts, New Hampshire and Maine. NBT Bank and its parent company, NBT Bancorp, are headquartered in Norwich, NY. NBT Bancorp had assets of $8.9 billion as of December 31, 2016, and is traded on the NASDAQ Global Select Market under the symbol NBTB. More information about NBT Bank and NBT Bancorp can be found online at www.nbtbank.com and www.nbtbancorp.com. Equal Housing Lender.
About the HomeOwnershipCenter
Chartered in 1979 by NeighborWorks® America, UNHS NeighborWorks HomeOwnershipCenter promotes housing and community development through programs such as homebuyer and financial literacy education, counseling, housing rehabilitation, and foreclosure prevention. UNHS HomeOwnershipCenter also offers various down payment and closing cost assistance programs such as First Home Club. Services are provided throughout Oneida, Herkimer, Madison, Fulton, Otsego and Montgomery counties. More information about services provided by the agency is available at www.UNHS.org.
Visit our main news page for more articles about our company. Learn more