{"id":143223,"date":"2023-03-08T10:00:00","date_gmt":"2023-03-08T14:00:00","guid":{"rendered":"https:\/\/hispanicprwire.com\/english-bmo-commits-1-million-to-provide-underserved-communities-a-path-to-homeownership\/"},"modified":"2023-03-08T10:00:00","modified_gmt":"2023-03-08T14:00:00","slug":"english-bmo-commits-1-million-to-provide-underserved-communities-a-path-to-homeownership","status":"publish","type":"post","link":"https:\/\/hispanicprwire.com\/en\/english-bmo-commits-1-million-to-provide-underserved-communities-a-path-to-homeownership\/","title":{"rendered":"BMO Commits $1 Million to Provide Underserved Communities a Path to Homeownership"},"content":{"rendered":"<p><\/p>\n<style type=\"text\/css\"><![CDATA[\n\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n]]><\/style>\n<div class=\"xn-content\">\n<ul type=\"disc\">\n<li><i>&#8216;Welcome Home Grant&#8217; program expanded to <span class=\"xn-location\">Minneapolis<\/span>, <span class=\"xn-location\">Milwaukee<\/span>, <span class=\"xn-location\">St. Louis<\/span>, <span class=\"xn-location\">Indianapolis<\/span>, and <span class=\"xn-location\">Lake County, IL<\/span> \u2013 <span class=\"xn-location\">Kenosha County, WI<\/span><\/i><\/li>\n<li><i>Applicants may be eligible for up to <span class=\"xn-money\">$25,000<\/span> to assist with down payment and closing costs<\/i><\/li>\n<\/ul>\n<p><span class=\"xn-location\">CHICAGO<\/span>, <span class=\"xn-chron\">March 8, 2023<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212; BMO today announced a <span class=\"xn-money\">$1 million<\/span> commitment to help underserved communities achieve progress towards homeownership. The commitment supports BMO&#8217;s <i>Welcome Home Grant<\/i> down payment program, which is expanding to five new markets including <span class=\"xn-location\">Minneapolis<\/span>, <span class=\"xn-location\">Milwaukee<\/span>, <span class=\"xn-location\">St. Louis<\/span>, <span class=\"xn-location\">Indianapolis<\/span>, and <span class=\"xn-location\">Lake County, IL<\/span> \u2013 <span class=\"xn-location\">Kenosha County, WI.<\/span> The program, which <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3803079-1&amp;h=2310780750&amp;u=https%3A%2F%2Fnewsroom.bmo.com%2F2022-03-29-BMO-Introduces-Welcome-Home-Grant-Down-Payment-Program-for-Homebuyers-in-Chicago&amp;a=launched+in+March+2022\" target=\"_blank\" rel=\"nofollow\">launched in <span class=\"xn-chron\">March 2022<\/span><\/a>, is still available in the <span class=\"xn-location\">Chicago<\/span> and <span class=\"xn-location\">Phoenix<\/span> markets. It offers up to <span class=\"xn-money\">$13,000<\/span> in grants to eligible borrowers to help with down payment and closing costs, helping buyers in underserved communities access the credit they need and accelerate their dream of homeownership.\u00a0<\/p>\n<p>When paired with other home financing programs, eligible borrowers can receive up to <span class=\"xn-money\">$25,000<\/span> in combined assistance. With the help of these programs, homebuyers can contribute as little as <span class=\"xn-money\">$1,000<\/span> from their own funds and lock in a 30-year fixed-rate mortgage.<\/p>\n<p>&#8220;The <span class=\"xn-money\">$1 million<\/span> commitment to support the expansion of our <i>Welcome Home Grant<\/i> program ensures more families can make real progress towards homeownership,&#8221; said <span class=\"xn-person\">Scott Freudenberger<\/span>, Head, Community Reinvestment, BMO. &#8220;The <i>Welcome Home Grant <\/i>exemplifies our commitment to a thriving economy, sustainable future, and inclusive society throughout the communities we serve.&#8221;<\/p>\n<p>&#8220;BMO&#8217;s <i>Welcome Home Grant <\/i>program can make homeownership a reality for many individuals and families,&#8221; said <span class=\"xn-person\">Courtney Jones<\/span>, 3rd Vice President of the National Association of Real Estate Brokers (NAREB). &#8220;For many underserved communities, the primary barrier to homeownership is affordability and lack of funding for a down payment. The expansion of the program into these communities will provide a critical boost and help people achieve progress towards owning their own home.&#8221;<\/p>\n<p>The program embodies BMO&#8217;s efforts to advance an inclusive economic recovery in <span class=\"xn-location\">the United States<\/span>. In <span class=\"xn-chron\">November 2022<\/span>, BMO announced <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3803079-1&amp;h=898922725&amp;u=https%3A%2F%2Four-impact.bmo.com%2Fus%2Four-practices%2Fcommunity-reinvestment%2Fbmo-empower%2F&amp;a=BMO+EMpower%C2%A02.0\" target=\"_blank\" rel=\"nofollow\">BMO EMpower\u00a02.0<\/a> \u2013 pledging\u00a0more than <span class=\"xn-money\">$40<\/span> billion\u00a0over the next five years to address key barriers faced by minority businesses, communities and families.<\/p>\n<p>Funds are reserved for full applications\u00a0until <span class=\"xn-chron\">July 31, 2023<\/span>. For more information on the program, please visit\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3803079-1&amp;h=4224648748&amp;u=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D3482018-1%26h%3D478821371%26u%3Dhttps%253A%252F%252Fwww.bmoharris.com%252Fmain%252Fpersonal%252Fmortgages%252Flow-down-payment-mortgages%252F%26a%3Dhttps%253A%252F%252Fwww.bmoharris.com%252Fmain%252Fpersonal%252Fmortgages%252Flow-down-payment-mortgages%252F&amp;a=https%3A%2F%2Fwww.bmoharris.com%2Fmain%2Fpersonal%2Fmortgages%2Flow-down-payment-mortgages%2F\" target=\"_blank\" rel=\"nofollow\">https:\/\/www.bmoharris.com\/main\/personal\/mortgages\/low-down-payment-mortgages\/<\/a><\/p>\n<p><b>About BMO Financial Group<\/b><\/p>\n<p>Serving customers for 200 years and counting, BMO is a highly diversified financial services\u00a0provider &#8211; the 8th largest bank, by assets, in\u00a0North America. With total assets of\u00a0$1.15 trillion\u00a0as of\u00a0January 31, 2023, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.<\/p>\n<p>Media Contacts:\u00a0Scott Doll, <span class=\"xn-location\">Chicago<\/span>, <a href=\"mailto:scott.doll@bmo.com\" rel=\"nofollow\">scott.doll@bmo.com<\/a> | 773-766-5439<\/p>\n<p>SOURCE  BMO Financial Group US<\/p>\n<\/div>\n<p><\/p>","protected":false},"excerpt":{"rendered":"<div class=\"xn-content\">\n<ul type=\"disc\">\n<li><i>&#8216;Welcome Home Grant&#8217; program expanded to <span class=\"xn-location\">Minneapolis<\/span>, <span class=\"xn-location\">Milwaukee<\/span>, <span class=\"xn-location\">St. Louis<\/span>, <span class=\"xn-location\">Indianapolis<\/span>, and <span class=\"xn-location\">Lake County, IL<\/span> \u2013 <span class=\"xn-location\">Kenosha County, WI<\/span><\/i><\/li>\n<li><i>Applicants may be eligible for up to <span class=\"xn-money\">$25,000<\/span> to assist with down payment and closing costs<\/i><\/li>\n<\/ul>\n<p><span class=\"xn-location\">CHICAGO<\/span>, &lt;span&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-143223","post","type-post","status-publish","format-standard","hentry","category-negocios-y-finanzas"],"acf":[],"_links":{"self":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/143223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/comments?post=143223"}],"version-history":[{"count":0,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/143223\/revisions"}],"wp:attachment":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media?parent=143223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/categories?post=143223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/tags?post=143223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}