Community Homeownership Initiative
WELCOME HOME
Artisans' Bank Community Homeownership Initiatives offer a variety of ways for eligible borrowers to own their own home.
ARTISANS' BANK - New Neighbor Program
We have great news for aspiring homeowners! The Artisans' Bank [New Neighbor Program] is designed to assist modest-income borrowers in purchasing their own homes.
Our program aims to make the costs associated with home ownership more manageable for eligible borrowers. Unsure if you qualify? Speak with one of our Loan Officers 302.884.6868
THE AB NEW NEIGHBOR PROGRAM INCLUDES:
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Interested in learning about
your options?
Let's Talk!
Experienced Loan Officers are ready to help you! 302.884.6868
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PROGRAM GUIDELINES |
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The home purchase loan must be for a primary residence, specifically a 1-2 family home, located within the State of Delaware. | |
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There are no income limits for properties in targeted census tracts designated for low- to-moderate income. | |
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Income limits may apply for loans in other census tracts within the state, so it is advisable to speak with a loan officer for more details. | |
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Owner-occupants are not permitted to own any other real estate at the time of settlement. | |
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Conventional financing is available for up to 97% loan-to-value (LTV). Additionally, FHA and VA financing options are also offered. |
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This loan program may be used in conjunction with the FHLB’s First Front Door or other settlement assistance programs. | |
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A minimum credit score of 640 is required. | |
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Refinance transactions are eligible for pricing discounts, but these do not include a cash grant. |
Please speak with an Artisans' Bank Residential Lender for the complete New Neighbor Program guideline and any terms or conditions that may apply. Thank you!
The New Neighbor Program is subject to Low to Moderate Income mortgage product guidelines. | It is part of the Artisans Bank Community Homeownership Program and is designed for
purchasing homes and loans specifically in qualifying Low- and Moderate-Income (LMI) census tracts. It is available exclusively for LMI applicants.
The use of the Artisans' Bank, Low to Moderate Income Grant and/or Special Purpose Credit Program may limit or preclude utilization of other discounts or programs and may be considered taxable income. Please consult with your tax advisor for full scope.
Terms and conditions of this offer are subject to change without notice. | Additional eligibility restrictions may apply. | Offer of credit subject to credit approval
Terms and conditions of this offer are subject to change without notice. | Additional eligibility restrictions may apply. | Offer of credit subject to credit approval
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Let's Talk Lending Solutions!
Experienced Loan Officers are ready to help you!
302.884.6868
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We are committed about empowering our Delaware community and homebuyers to thrive through the transformative power of homeownership.
Artisans’ Bank proudly provides essential solutions for modest-income and first-time homebuyers, including affordable mortgages, settlement assistance, valuable resources, and expertise.
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Credit Builder Loan Consumers with limited or no credit have a valuable opportunity to establish or enhance their credit scores through the Artisans’ Bank Credit Builder Loan. In this program, the funds from a small consumer loan will be deposited into a savings account at Artisans’ Bank, serving as collateral for the loan. As borrowers make monthly payments using their income (cash flow), they’ll not only work towards improving their credit scores but also build their savings. |
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Speak with one of our Residential Lenders for more information on this program and our participation.
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This is a Community Reinvestment Act Program, please contact the Bank's CRA Officer, Joel Schiller, at 302-884-6566, or jschiller@artisansbank.com.
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In partnership with FHLBank Pittsburgh, Artisans' Bank is excited to offer the following two programs for first-time and first-generation home buyers! |
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FIRST FRONT DOOR Program
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FLHB [FIRST FRONT DOOR] GUIDELINES |
TERMS OF ELIGIBILITY | |
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A minimum contribution of $1,500 towards the homebuyers down payment or closing costs of the home | |
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The prospective homebuyer must be a person who has not owned an eligible property used as their primary residence in the last three years | |
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At or below 80% of the median income of the area (this takes into consideration the entire household income) | |
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Must complete at least four hours of homeownership counseling form an approved counseling agency prior to the purchase of the home | |
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Cannot receive cash back at settlement for any reason. Please ensure that your lender provides no more than $250.00 cash back at loan closing. | |
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Eligible for a maximum First Front Door Grant of $15,000.00 |
Terms and conditions of this offer are subject to change without notice. | Additional eligibility restrictions may apply.
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Speak with one of our Residential Lenders for more information on this program and our participation.
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Learn more about this grant and funding
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FLHB [KEYS PROGRAM] GUIDELINES |
TERMS OF ELIGIBILITY | |
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A minimum contribution of $1,000 towards the homebuyers down payment or closing costs of the home | |
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The prospective homebuyer must be a first-time homebuyer and identify as a Minority and/or First-Generation homebuyer, as defined by FHLBank. | |
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At or below 120% of the median income of the area | |
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Must complete at least four hours of homeownership counseling form an approved counseling agency prior to the purchase of the home | |
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Cannot receive cash back at settlement for any reason. Please ensure that your lender provides no more than $250.00 cash back at loan closing. | |
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Eligible for a maximum Keys Grant of $20,000.00 |
Terms and conditions of this offer are subject to change without notice. | Additional eligibility restrictions may apply.
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Speak with one of our Residential Lenders for more information on this program and our participation.
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Learn more about this grant and funding
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ADDITIONAL GOVERNMENT LOANS
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Veterans Affairs Loans + Artisans' Bank These government-back loans are designed to aid active duty servicemembers, veterans, reservists and surviving spouses looking to purchase a home. With no down payment or mortgage insurance required, and only a one-time VA funding fee that can be included in the price of the mortgage, VA loans offer an affordable option for our servicemen and women looking for their ideal home. |
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Speak with one of our Residential Lenders for more information on this program and our participation.
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Learn more about these loans
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Federal Housing Administration + Artisans' Bank In collaboration with the Federal Housing Administration (FHA) and the Department of Housing and Urban Development, these specially designed government-backed loans offer an incredible opportunity for first-time homebuyers. They feature significantly lower down payment requirements and more forgiving credit standards, making the dream of homeownership more accessible than ever before.
As home prices continue to fluctuate, many prospective buyers find it challenging to save the substantial 20% down payment typically required by conventional mortgage lenders. However, with these government-backed options, you can explore down payment possibilities as low as 3.5%. This means that you could qualify for that ideal home much sooner than you might have thought!
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Speak with one of our Residential Lenders for more information on this program and our participation.
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Learn more about these loans
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At Artisans' Bank we are ready to help make your homeownership dreams a reality.
Experienced Loan Officers are ready to help you! 302.884.6868
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Standard Loan Options Available
