Knowledge Center
WSFS Mortgage Offers New Program to Help Customers Realize Their Dream of Homeownership
buying-a-home | Read Time: 3 minutes
By Eric Springer | Published: February 2022
For many aspiring homebuyers, the biggest challenge to achieving their dream of homeownership is the upfront costs. Add in rising prices, stiff competition and bidding wars for houses over the past year, and the obstacles can seem overwhelming.
“The dream of owning a home is supposed to be attainable for people who are qualified, but many still have trouble affording the purchase costs,” says Jeffrey M. Ruben, President of WSFS Mortgage. “WSFS Bank offers the Neighborhood Opportunity Program to assist individuals and families with limited income, or who are purchasing in low- and moderate-income areas, realize this dream1.”
The WSFS Mortgage Neighborhood Opportunity Program offers qualified homebuyers help with low down payment options, competitive rates, and in some cases, no private mortgage insurance.
“The program is designed to not only help make borrowers’ initial home purchase more affordable, but to keep their monthly payments more manageable as well with lower or no fees that might have traditionally been applied to their loans,” adds Ruben.
The Neighborhood Opportunity Program also features education resources for borrowers that help them prepare for homeownership and the process for getting a mortgage.
“One of the best tools for prospective homebuyers is knowledge,” says Ruben. “Understanding the steps that you need to take to prepare financially and emotionally for the homebuying and mortgage process, then acting on those steps, is especially beneficial for first time homebuyers. There are a lot of new experiences involved with buying a home, and while they can seem daunting, knowledge truly is power.”
About the Author – Eric Springer
Eric Springer is Assistant Vice President, Integrated Communications Manager at WSFS Bank. He brings more than 15 years’ experience in corporate communications and marketing for banking, professional services and nonprofit organizations.
1Maximum household income limit is based on 80% of area median income published by HUD for 4-person household. Home must be a primary residence or second home, single-family dwelling, townhouse, planned unit development or condo. Loan program is subject to change. 2Applies to qualified borrowers. 3Applies to qualified loans below $100,000 and/or in a defined low- or moderate-income census tract. Offer subject to credit approval.
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