Dime Community Bank Helps Homebuyers Turn Dreams into Reality
July 22 2019 - 11:34AM
First-time homebuyers in New York and New Jersey now have a greater
opportunity to attain home ownership. Dime Community Bank (the
“Bank” or “Dime”), subsidiary of Dime Community Bancshares, Inc.
(the “Company”) (NASDAQ:DCOM), announced today it is partnering
with the Federal Home Loan Bank of New York (FHLB) to help
first-time homebuyers overcome the challenges of paying the upfront
costs associated with purchasing a new home.
As part of the Homebuyers Dream Program (HDP), eligible
first-time homebuyers may qualify to receive grants of up to
$14,500 to be used towards down payment and closing cost assistance
for purchasing their first home. Additionally, the FHLB will offer
up to $500 towards the defrayment of homeownership counseling
costs.
“Today, many first-time homebuyers face a formidable challenge
of raising funds to pay for down payments, closing costs and
attorney’s fees,” noted Nancy Tomich, Dime Senior Vice President,
Residential Lending. “As a bank with a 155-year legacy of helping
individuals, businesses and local communities, Dime is proud to
help homebuyers reach their goals of home ownership through this
initiative with the Federal Home Loan Bank of New York,” she
added.
The Homebuyer Dream Program provides funds in the form of a
grant to be used towards down payment and closing cost assistance
to first time homebuyers earning at or below 80% of the Area Median
Income (AMI) and purchasing homes in New York or New Jersey. The
2019 Homebuyer Dream Program Round, which launched on July 8, 2019,
will be administered on a first-come, first-served basis and will
remain open for reservations until funds are exhausted or until
Friday, November 29, 2019 at 5:00 P.M, whichever occurs first.
For more information about the Homebuyer Dream Program and how
to qualify, visit www.fhlbny.com or contact Dime Community Bank,
Residential Lending through Greg Hong at (631) 768-1308.
ABOUT DIME COMMUNITY BANK
Dime Community Bank (the "bank") was founded in
1864, is headquartered in Brooklyn, and is a wholly-owned
subsidiary of Dime Community Bancshares, Inc. (NASDAQ: DCOM). Dime
currently has 29 branches located throughout Brooklyn, Queens, the
Bronx, Nassau County and Suffolk County, New York. More information
on the bank can be found on Dime's website at www.dime.com.
Contact: Greg HongVice President – Residential
Lending(631)768-1308
Dime Community Bancshares (NASDAQ:DCOM)
Historical Stock Chart
From Apr 2024 to May 2024
Dime Community Bancshares (NASDAQ:DCOM)
Historical Stock Chart
From May 2023 to May 2024