Payments

Keybank reaches $1M in funding for home buyer credits

September 12, 2023

Keybank has officially funded more than $1 million in Home Buyer Credits since it launched the program in September 2022, which has helped 245 clients purchase homes. This program offers $5,000 towards closing costs and other fees that come with financing a new home such as flood and hazard insurance, taxes, escrow deposit and more, according to a press release.

In addition to these credits, the bank also offers the Key Opportunities Home Equity Loan which provides a fixed rate for customers looking to refinance their primary home, and the Neighbors First Credit that provides up to $5,000 in credit for closing costs and other fees.

With these services, Keybank has purchase credits available in more than 9,500 census tracts, which covers 10% of the U.S. population.

"A home is one of the most meaningful purchases a person or family can make. At Key, we believe that healthy communities are those where all residents have access to homeownership," Dale Baker, president of home lending at Keybank, said in the release. "We aim to help our communities thrive by not only bringing awareness to affordable lending products, programs and services, but also providing educational support and direct investment."