The program, called “You’re Home,” provides an alternative to traditional loan program and terms, offering up to 97% financing for the purchase of properties located in defined, underserved markets.

The program is specifically designed to assist borrowers in specific demographic Geographic Assessment Areas and Majority Minority census tracts in the Bank’s footprint. Borrowers in these areas are eligible for both purchase and rate and term refinance transactions.

“Our goal is to help reduce the barriers to traditional lending and expand the opportunities for homeownership in the communities we serve,” said James Griffin, head of consumer banking. “We want to do our part to help potential homebuyers, or those who want or need to refinance, to have more access to funding.”

“Homeownership strengthens our neighborhoods and helps individuals and families build generational wealth,” said Marissa Weidner, chief corporate responsibility officer at Webster. She added, “The ‘You’re Home’ program will create greater access to credit in economically disadvantaged communities.”

The “You’re Home” program is the most recent component of the Bank’s Community Investment Strategy, a multi-year, $6.5B commitment to expanding access to capital, providing loans, investments, technical assistance and financial services to individuals and small businesses in low- and moderate-income neighborhoods.

The bank’s dedication to supporting low- and moderate-income borrowers extends beyond financial assistance with our network of community liaison officers, actively building relationships with community-based organizations to increase lending opportunities that meet local credit needs within these regions, as well as conducting financial literacy workshops on topics such as first-time homebuying.