Tri Counties Bank Creates Homeownership Access Program to Increase Homeownership in Historically Disadvantaged Communities
January 19 2023 - 6:39PM
Business Wire
Tri Counties Bank announced today the creation of the
Homeownership Access Program to support homeownership in
historically disadvantaged communities in Northern and Central
California.
Approved applicants will receive a closing cost credit of up to
3% of the loan, up to $7,500. The credit can be used to cover
closing costs or to pay for discount points to reduce their
interest rate.
“We are very excited to announce the launch of our Homeownership
Access Program,” said Dyke Mundy, Home Mortgage Sales Manager for
Tri Counties Bank. “This program, combined with other community and
non-profit programs, will make a significant impact in our ability
to expand homeownership in traditionally underserved markets.”
The Tri Counties Bank Homeownership Access Program can be used
for home purchases and refinances. To qualify, the property must be
in a designated majority Black and/or Hispanic census tract within
the Tri Counties Bank assessment area. The property must be owner
occupied, and the borrower’s income must be at or below 150% of the
area’s median income.
Anyone from any race or ethnicity is welcome to apply. To
determine if your property is eligible and to apply, call
1-877-822-5626 or visit
www.tcbk.com/homeownership-access-program.
The Tri Counties Bank Homeownership Access Program is a Special
Purpose Credit Program, which is a loan program designed to meet
the credit needs as specified under the Equal Credit Opportunity
Act (ECOA) and Regulation B.
https://www.fdic.gov/news/financial-institution-letters/2022/fil22008.html
About Tri Counties Bank
Established in 1975, Tri Counties Bank is a wholly-owned
subsidiary of TriCo Bancshares (NASDAQ: TCBK) headquartered in
Chico, California, with assets of nearly $10 billion and more than
45 years of financial stability. Tri Counties Bank provides a
unique brand of Service With Solutions® for communities throughout
California with a breadth of personal, small business and
commercial banking services, plus an extensive branch network, more
than 37,000 surcharge-free ATMs nationwide, and advanced online and
mobile banking. Tri Counties Bank participates in the Cities for
Financial Empowerment (CFE) Fund’s BankOn program that seeks to
ensure that everyone has access to safe and affordable financial
products and services. Visit TriCountiesBank.com to learn
more. Equal Housing Lender. NMLS #458732. Member FDIC.
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Megan Sheehan, Community Engagement Manager
megansheehan@tcbk.com (530) 332-2330
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