COLUMBUS, Ohio, July 30 /PRNewswire / -- The Columbus Housing Partnership (CHP) and Huntington National Bank today named the first family to buy a home through the Huntington Homeownership Alliance. The 3-year, $10 million alliance was launched just three months ago to provide housing counseling, foreclosure prevention services and affordable mortgages to Central Ohioans.
The house, located in the city of Columbus, was purchased by Brooklynn and Philip C. Hahn, Columbus residents who might not otherwise have been able to obtain an affordable mortgage to purchase the home.
The Hahns are the first of at least 100 people who will be able to purchase homes here in Central Ohio through the Huntington Homeownership Alliance.
"At Huntington we know the importance of homeownership for our community and our economy," said Huntington President and CEO Stephen D. Steinour. "We established this groundbreaking program to help families purchase homes or remain in their homes. We know homeownership helps families and stabilizes neighborhoods."
"We have seen many people who would like to purchase a home but are not sure if the time is right," said Amy Klaben, President and CEO of Columbus Housing Partnership. "These first of many buyers demonstrate that our Alliance is working and able to help those who have not been able to find an affordable loan."
These innovative 30-year fixed rate loan products, together with the federal government's $8,000 tax credit for people who have not owned a home in the past three years, could create over 100 new home owners in our community.
CHP services will also be expanded through a new virtual "Homeownership Center." The online tool will use the Internet and interactive capabilities to provide housing education-related services to a broader audience.
"Home ownership strengthens our neighborhoods and provides families with a way to build wealth and stability for their future," said Council President Michael C. Mentel. "The Alliance is a clear sign of Huntington's commitment to Columbus and the people of this great city."
Nine thousand households are expected to take part in the joint program by receiving counseling from CHP. In addition, Huntington is providing $10 million in 30-year, fixed-rate mortgages with low closing costs and potentially below-market interest rates, which are available to anyone purchasing CHP homes. Huntington associates and mortgage clients will receive special invitations to participate in CHP programs.
Lastly, the Homeownership Alliance is also enabling CHP to better respond to the foreclosure crisis affecting our community. This innovative partnership is providing the tools and products necessary to address the needs of Central Ohioans and expand those services to those in need of homeownership and foreclosure-related services.
