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Washington Trust expands its RI Community Lending Program with new Home Equity Loans

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Washington Trust has expanded its RI Community Lending Program by introducing I Luv RI™ Home Improvement Loans. These loans offer discounted rates of up to 2% for home renovation and repair, with flexible options up to $50,000. The program is available in 14 Rhode Island cities and towns, including Providence, Newport, and Warwick.

The Bank recently hosted an educational event for real estate professionals to inform them about the program's expansion, which includes four unique mortgage options with various financing options, matching funds/grants, and closing cost credits. Washington Trust has a team of community lending officers and mortgage lenders throughout Rhode Island to assist residents with homebuying and homeownership needs, including financial education and resources.

Washington Trust ha ampliato il suo Programma di Prestiti per la Comunità del Rhode Island introducendo i Prestiti per il Miglioramento della Casa I Luv RI™. Questi prestiti offrono tassi scontati fino al 2% per la ristrutturazione e la riparazione della casa, con opzioni flessibili fino a 50.000 dollari. Il programma è disponibile in 14 città e paesi del Rhode Island, tra cui Providence, Newport e Warwick.

La Banca ha recentemente ospitato un evento formativo per professionisti del settore immobiliare per informarli sull'espansione del programma, che include quattro opzioni uniche di mutuo con varie opzioni di finanziamento, fondi/grants abbinati e crediti sui costi di chiusura. Washington Trust dispone di un team di funzionari per i prestiti alla comunità e di finanziatori ipotecari in tutto il Rhode Island per assistere i residenti con le esigenze di acquisto e possesso della casa, inclusa l'educazione finanziaria e le risorse.

Washington Trust ha ampliado su Programa de Préstamos para la Comunidad de Rhode Island introduciendo los Préstamos para Mejoras en el Hogar I Luv RI™. Estos préstamos ofrecen tasas con descuento de hasta el 2% para la renovación y reparación del hogar, con opciones flexibles de hasta $50,000. El programa está disponible en 14 ciudades y pueblos de Rhode Island, incluyendo Providence, Newport y Warwick.

El banco organizó recientemente un evento educativo para profesionales del sector inmobiliario para informarles sobre la expansión del programa, que incluye cuatro opciones hipotecarias únicas con diversas opciones de financiamiento, fondos/subvenciones emparejados y créditos en costos de cierre. Washington Trust cuenta con un equipo de oficiales de préstamos comunitarios y prestamistas hipotecarios en todo Rhode Island para ayudar a los residentes con necesidades de compra y propiedad de viviendas, incluyendo educación financiera y recursos.

워싱턴 트러스트가 로드아일랜드 커뮤니티 대출 프로그램을 확장하여 I Luv RI™ 주택 개선 대출을 도입했습니다. 이 대출은 주택 리모델링 및 수리를 위한 최대 2%의 할인된 금리를 제공하며, $50,000까지의 유연한 옵션이 있습니다. 이 프로그램은 로드아일랜드의 14개 도시 및 타운에서 이용 가능하며, 프로비던스, 뉴포트, 워윅이 포함됩니다.

은행은 프로페셔널 부동산 전문가를 위한 교육 행사를 최근 개최하여 프로그램의 확장에 대해 알렸으며, 이에는 다양한 자금 조달 옵션과 매칭 자금/보조금, 마감 비용 크레딧을 갖춘 네 가지 독특한 모기지 옵션이 포함됩니다. 워싱턴 트러스트는 주택 구매 및 소유에 대한 주민의 필요를 도와주기 위해 로드아일랜드 전역에 커뮤니티 대출 담당자와 모기지 대출자를 두고 있으며, 금융 교육 및 자원을 제공합니다.

Washington Trust a élargi son Programme de Prêts Communautaires dans le Rhode Island en introduisant les Prêts d'Amélioration de Maison I Luv RI™. Ces prêts offrent des taux réduits allant jusqu'à 2% pour la rénovation et la réparation du domicile, avec des options flexibles allant jusqu'à 50 000 $. Le programme est disponible dans 14 villes et communes du Rhode Island, y compris Providence, Newport et Warwick.

La Banque a récemment organisé un événement éducatif pour les professionnels de l'immobilier afin de les informer sur l'expansion du programme, qui comprend quatre options hypothécaires uniques avec diverses options de financement, des fonds/subventions appariés et des crédits pour les frais de clôture. Washington Trust dispose d'une équipe d'agents de prêts communautaires et de prêteurs hypothécaires dans tout le Rhode Island pour aider les résidents avec leurs besoins d'achat et de propriété de maison, y compris l'éducation financière et les ressources.

Washington Trust hat sein Staatenübergreifendes Kreditprogramm für die Gemeinschaft in Rhode Island erweitert und bietet jetzt I Luv RI™ Heimverbesserungsdarlehen an. Diese Darlehen bieten ermäßigte Zinssätze von bis zu 2% für Renovierungen und Reparaturen von Wohnhäusern, mit flexiblen Optionen von bis zu 50.000 US-Dollar. Das Programm ist in 14 Städten und Gemeinden in Rhode Island verfügbar, darunter Providence, Newport und Warwick.

Die Bank veranstaltete kürzlich eine Schulungsveranstaltung für Fachleute aus der Immobilienbranche, um sie über die Erweiterung des Programms zu informieren, die vier einzigartige Hypothekenoptionen mit verschiedenen Finanzierungsoptionen, Matching-Fonds/Zuschüssen und Krediten für Abschlusskosten umfasst. Washington Trust hat ein Team von Community-Darlehensoffizieren und Hypothekardarlehensgebern in ganz Rhode Island, um den Bewohnern bei ihren Wohnbedürfnissen und -käufen zu helfen, einschließlich finanzieller Bildung und Ressourcen.

Positive
  • Introduction of I Luv RI™ Home Improvement Loans with discounted rates up to 2%
  • Flexible loan options up to $50,000 for home renovation and repair
  • Expansion of RI Community Lending Program to include four unique mortgage options
  • Collaboration with local community groups to enhance lending program offerings
Negative
  • None.

Offers discounts for homeowners in select RI cities and towns

WESTERLY, R.I., Oct. 1, 2024 /PRNewswire/ -- Washington Trust ("the Bank") today announced the Bank recently enhanced its RI Community Lending Program by adding I Luv RI Home Improvement Loans as home renovation and repair solutions for Rhode Island homeowners.

The I Luv RI Home Improvement Loans offer homeowners several flexible loan options of up to $50,000 at rates discounted up to 2%. The loans are available on homes in the following Rhode Island cities and towns: Bristol, Central Falls, Coventry, Cranston, East Providence, Johnston, Middletown, Newport, North Providence, Pawtucket, Providence, Warwick, West Warwick, and Woonsocket.

"As the nation's oldest community bank, we've helped generations of Rhode Islanders achieve home ownership, and we know there are a lot of responsibilities that come with owning a home," stated Edward O. "Ned" Handy III, Washington Trust Chairman and Chief Executive Officer. "Keeping your home well maintained is one of them, and our I Luv RI Home Improvement loans will help homeowners make necessary renovations and repairs to help them retain, and in some cases, may help to increase the value of their homes."

Washington Trust recently hosted a special education event for Rhode Island real estate professionals to ensure their clients are informed about the expansion of its RI Community Lending Program, which also includes four unique mortgage options, including the "I Luv RI Community Lending Program," the "Buyer's Advantage Program," the "Home Opportunity Program," and the RI Advantage Program." These loans offer a variety of financing options, matching funds/grants, and closing cost credits and grants. The Bank also offers waived lender fees and low or discounted rates on fixed rate mortgages; and eligible borrowers may qualify by income and/or property location.

Washington Trust has a team of community lending officers and mortgage lenders throughout the State of Rhode Island who are available to assist residents with their homebuying and homeownership needs, including financial education, tools and resources to help get them get on the path to home ownership, and to become successful homeowners. Washington Trust works directly with local community groups, such as One Neighborhood Builders, NeighborWorks Blackstone River Valley, West Elmwood Housing Development Corporation, SWAP (Stop Wasting Abandoned Property) & Pawtucket Central Falls Development Corporation, and others, to collaborate on RI Community Lending Program offerings. For more information and loan details about Washington Trust RI Community Lending Program, call 800-475-2265 or visit www.washtrust.com/ricommunitylending.

ABOUT WASHINGTON TRUST®
Founded in 1800, Washington Trust is recognized as the oldest community bank in the nation, the largest state-chartered bank headquartered in Rhode Island and one of the Northeast's premier financial services companies. Washington Trust values its role as a community bank and is committed to helping the people, businesses, and organizations of New England improve their financial lives. The Bank offers a wide range of commercial bankingmortgage bankingpersonal banking and wealth management services through its offices in Rhode Island, Connecticut and Massachusetts and a full suite of convenient digital tools. Washington Trust is a member of the FDIC and an equal housing lender. Washington Trust is a subsidiary of Washington Trust Bancorp, Inc., a publicly-owned holding company which trades on NASDAQ: WASH. For more information, visit the Bank's website at www.washtrust.com or the Corporation's website at ir.washtrust.com.

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SOURCE The Washington Trust Company

FAQ

What new loan product has Washington Trust (WASH) introduced in its RI Community Lending Program?

Washington Trust has introduced I Luv RI™ Home Improvement Loans as part of its expanded RI Community Lending Program. These loans offer discounted rates of up to 2% for home renovation and repair, with flexible options up to $50,000.

In which Rhode Island cities and towns are Washington Trust's (WASH) I Luv RI Home Improvement Loans available?

The I Luv RI Home Improvement Loans are available in 14 Rhode Island cities and towns: Bristol, Central Falls, Coventry, Cranston, East Providence, Johnston, Middletown, Newport, North Providence, Pawtucket, Providence, Warwick, West Warwick, and Woonsocket.

What are the four unique mortgage options offered by Washington Trust (WASH) in its RI Community Lending Program?

Washington Trust's RI Community Lending Program includes four unique mortgage options: the I Luv RI™ Community Lending Program, the Buyer's Advantage™ Program, the Home Opportunity™ Program, and the RI Advantage™ Program.

How is Washington Trust (WASH) supporting homebuyers and homeowners in Rhode Island?

Washington Trust has a team of community lending officers and mortgage lenders throughout Rhode Island who provide assistance with homebuying and homeownership needs, including financial education, tools, and resources. The bank also offers waived lender fees, low or discounted rates on fixed-rate mortgages, and collaborates with local community groups to enhance its lending program offerings.

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