“The current mortgage rate environment has made it more challenging for some people, particularly would-be first-time-homebuyers, to purchase a home,” said Stephen Cannon, mortgage co-president at SouthState Bank. “Homeownership is a foundational component to building wealth and ultimately creating a prosperous financial existence, and the Opportunity Advantage Loan Fund could make a significant impact for homebuyers throughout our six-state footprint.”
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To qualify, applicants must have an income of 80% or less of the county area median income adjusted for family size. A minimum 640 FICO credit score is also required. The Opportunity Advantage fund is available in Alabama, Florida, Georgia, the Carolinas, and Virginia (Richmond) for any applications received after May 15, 2023.
“We are committed to helping our communities succeed, and helping residents of our communities obtain affordable housing is a primary focus for SouthState,” co-president Brent Harrell said. “Our mortgage bankers are excited to help customers take advantage of this new loan program.”
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Source: mpamag.com