KeyBank To Offer SONYMA Loans To Help First Time Homebuyers

Rhea-AI Summary

KeyBank (NYSE:KEY) has announced its collaboration with the State of New York Mortgage Agency (SONYMA) to provide low-interest mortgage loans to assist first-time homebuyers in New York. KeyBank will offer two primary SONYMA programs: Achieving the Dream and Low Interest Rate, which can be combined with down payment assistance loans and other grants. Additionally, KeyBank has introduced a $5,000 Home Buyer Credit for eligible purchases. KeyBank aims to enhance community investment through home ownership, emphasizing the importance of housing in wealth building.

Positive

• Collaboration with SONYMA to offer low-interest mortgage loans.
• Introduction of a $5,000 Home Buyer Credit to support eligible buyers.
• Programs designed to help first-time homebuyers and encourage community investment.

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• None.

NORTHAMPTON, MA / ACCESSWIRE / January 25, 2023 / KeyBank (NYSE:KEY) is pleased to announce that it offers State of New York Mortgage Agency (SONYMA) loans. SONYMA offers low-interest rate mortgage loans and programs to help qualified buyers purchase their first home in the state of New York.

SONYMA has two primary mortgage programs that KeyBank offers - Achieving the Dream and Low Interest Rate. Both programs have SONYMA's optional down payment assistance loans (DPAL) available, and all programs can be combined with other grants and subsidies.

• Learn more about SONYMA's Achieving the Dream and Low Interest Rate programs and requirements

"Owning a home not only brings pride to individuals, families, and communities, but it's also one of the best mechanisms to build wealth" said Dale Baker, KeyBank President of Home Lending. "KeyBank's purpose is to help our clients and the communities we serve thrive. We are pleased to partner with SONYMA to make this program available that will help drive investment in neighborhoods across New York."

KeyBank also recently began offering a $5,000 Home Buyer Credit to support eligible owner-occupied home purchases in the communities where we live and work.

• Learn more about KeyBank's Home Buyer Credit

For more information about SONYMA loans or the home buyer credit, clients can visit a KeyBank branch in New York State. Find a branch by using KeyBank's branch locator.

ABOUT KEYBANK
KeyBank's roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $189.8 billion at December 31, 2022. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,300 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.

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Equal Housing Lender

NMLS# 399797. All loans are subject to credit and collateral approval. Not all loans or products are available in all states. Mortgage and Home Equity Lending products offered by KeyBank are not FDIC insured or guaranteed.

CFMA #230113-1875889

View additional multimedia and more ESG storytelling from KeyBank on 3blmedia.com.

Contact Info:

Spokesperson: KeyBank
Website: https://www.3blmedia.com/profiles/keybank
Email: info@3blmedia.com

SOURCE: KeyBank

View source version on accesswire.com:
https://www.accesswire.com/736693/KeyBank-To-Offer-SONYMA-Loans-To-Help-First-Time-Homebuyers

FAQ

What programs does KeyBank offer in collaboration with SONYMA?

KeyBank offers two main programs with SONYMA: Achieving the Dream and Low Interest Rate, both of which include down payment assistance options.

How is KeyBank supporting first-time homebuyers in New York?

KeyBank supports first-time homebuyers by providing low-interest loans through SONYMA and a $5,000 Home Buyer Credit.

When was the announcement made about KeyBank's SONYMA loans?

The announcement was made on January 25, 2023.

What is the stock symbol for KeyBank?

The stock symbol for KeyBank is KEY.

Where can I find more information about KeyBank's homebuyer assistance programs?

More information can be found by visiting a KeyBank branch in New York or checking their website.