Assistance Program Provides $5,000 for Down Payment or Closing
Costs
Golf Savings Bank (NASDAQ: STSA), a leading originator of residential
home loans, is now providing a financing program that provides qualified
first-time home buyers with down payment and closing cost assistance of
up to $5,000.
Golf Savings Bank has facilitated nearly $200,000 in grants over the
last six months to help low- to moderate-income borrowers purchase their
first homes. This grant money is available through Golf's participation
in Home$tart, a matching-funds program offered by the Federal Home Loan
Bank of Seattle.
The funds allow the buyer to receive up to $5,000, interest free, that
can be used to pay for the down payment or closing costs. Having
adequate funds for down payment or closing costs is a significant
obstacle to homeownership. Down payment assistance programs are designed
to facilitate homeownership. These funds do not have to be repaid as
long as the borrower occupies the property for a minimum of five years.
“Combined with the new federal tax incentives, this program makes
homeownership affordable to large numbers of qualified buyers. Many
first-time buyers are unaware of programs available for people with low
to moderate incomes,” commented Donn Costa, executive vice president of
Golf Savings Bank. “We expect to be able to facilitate another $200,000
in grants over the next 12 months.”
For details on eligibility for this program and other lending incentive
programs, contact a mortgage banking representative at Golf Savings
Bank. Visit www.golfsavingsbank.com
to locate the branch nearest you.
About Golf Savings Bank
Golf Savings Bank's primary focus is the origination of high-quality
residential home loans within a network of over 30 loan offices located
throughout the Pacific Northwest. Golf Savings Bank offers affordable
loan programs and products to homebuyers, including many first-time and
low- to moderate-income buyers. Headquartered north of Seattle, Golf
Savings Bank is a federally insured, Washington-state chartered savings
bank. It is a wholly owned subsidiary of Sterling Financial Corporation
(NASDAQ: STSA). Please visit at www.golfsavingsbank.com
for more information.
Golf Savings Bank
Donn Costa, 425-712-4232
dcosta@golfsavingsbank.com
or
Media
Contact:
David Watkins, 425-582-7622
david@teamwatkins.com
