SitemapCortland Banks and Youngstown Neighborhood Development Corp. today announced a strategic collaboration to provide a mortgage-loan program that will offer first mortgage financing on homes rehabilitated by YNDC in Youngstown neighborhoods.
Cortland Banks has committed $300,000 to the program, which will assist prospective homebuyers who may not qualify for conventional loan products to secure mortgage financing with favorable terms, while furthering YNDC’s mission to bolster continued revitalization and economic recovery in strategic neighborhoods, according to a Cortland Banks press release.
YNDC is a U.S. Housing and Urban Development-certified housing counseling agency offering pre-purchase counseling and homebuyer education to assist prospective homebuyers with addressing and resolving the barriers to homeownership.
Cortland Banks will contribute additional funds to YNDC for providing these services to program applicants. The nonprofit and the bank also plan to launch a joint marketing outreach campaign to promote the program to the Mahoning Valley in the coming weeks.
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