Bank / Credit Union

Keybank funds more than $10M in equity program

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April 5, 2024

Keybank recently announced it has funded more than $10 million in loans through its Key Opportunities Home Equity Loan program, first launched on March 1, 2023. The program provides loans at a fixed rate with no origination fee and first or second lien options for loans up to $100,000, according to a press release.

"This milestone involving the Key Opportunities Home Equity Loan Program reflects KeyBank's steadfast and holistic commitment to helping clients at every stage of homebuying and homeownership," Dale Baker, president of home lending at Keybank, said in the release. "We are excited to continue to work to reduce the barriers of homeownership through responsible lending products and services, educational support, and direct investment into the diverse communities we serve."

So far, more than 200 customers have gained loans for their primary home through the program. Keybank provides other credit programs for homeowners such as the Home Buyer Credit and Neighbors First Credit which offer up to $50,00 in credits towards closing costs or fees. This is part of a larger effort to help make homeownership more attainable.

"Sustainable homeownership is a wealth building tool that can help families and neighborhoods grow and thrive," Rachael Sampson, head of community banking for Keybank's consumer bank, said in the release. "While our work is not done, this $10 million milestone with our Key Opportunities Home Equity Loan program reflects the significant progress we've made and our dedication to reaching and helping clients across our communities."