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 dream.”
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.”
Helping you boost your financial intelligence.
Read our financial resources from your friends at WSFS.