HOPE for Home Owning

A $20 million program commitment has been made by Webster Bank, N.A., Waterbury, Connecticut designed to give low- to moderate-income consumers the opportunity to own a home. The Home Ownership Possibilities for Everyone (HOPE) program uses non-traditional underwriting standards including innovative credit scoring methods and minimal down payment requirements. Borrowers also can get reduced interest rates and qualify without private mortgage insurance after they attend home buyer education classes.

Copyright © 2005 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 14, No. 12, 1/05