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TD Bank has launched a program called TD Home Access Mortgage that is designed to increase home ownership and accelerate affordable home lending in Black and Hispanic communities.
TD Bank has branches in Palmetto Bay, Cutler Bay, Coral Gables, Doral, Hialeah and numerous other locations.
The program offers borrowers greater flexibility and a $5,000 lender credit for down payment on home purchases, an obstacle that nearly half of Black and Hispanic buyers identify as a roadblock to homeownership. The $5,000 lender credit does not require repayment.
Felipe Basulto, Retail Market president for South Florida at TD Bank, is excited about the program intended to help prospective homeowners impacted by COVID-19 and recent economic conditions.
“I’ve been with TD Bank for more than 12 years and I’ve experienced firsthand the evolution and commitment to our culture of care and inclusion, which is always grounded in our aspiration to Be the Better Bank,” Basulto said. “But the pandemic reinforced and underscored the economic and racial disparities that exist for Black and Hispanic communities, highlighting the need to accelerate our efforts and amplify our support for racial equity, particularly in the homeownership space.
“TD Home Access Mortgage is a continuation of the expansion of our product suite over the past 18 months to do our part in closing the racial wealth gap. And the timing couldn’t be better, given the challenges of this tough housing market. There is certainly more work to be done, but I’m truly proud of what we’ve achieved, and I look forward to the positive impact this product will have for Black and Hispanic families here and across our footprint,” he added.
Basulto said that they are working to let people in the community know about the new program.
“We are really excited to bring TD Home Access Mortgage to market, so we have a multi-pronged approach to ensuring our customers know about it,” he said. “We are aware that many customers first turn to the internet. Soon, we’ll be adding information about this product to our existing website that already has an array of affordable mortgage options.
In the meantime, visit td.com and search ‘affordable home loans’ to find a mortgage loan officer in your neighborhood that can speak with you about TD Home Access Mortgage.”
He adds that they are educating their teams, working with local Realtors and with the help of community organizations to get the word out about the program.
For information, visit one of TD Bank’s branches or call 1-866-325-4516.
