HomeStreet Bank Expands ‘Hometown Home Loan Program’

""HomeStreet Bank"":https://www.homestreet.com/index.aspx is expanding its employer-assisted benefit options to a new region of Washington state. The community bank has announced the extension of its ""Hometown Home Loan Program"":https://www.homestreet.com/programs/index.aspx to the Spokane area.

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Established in 1994, the Hometown Home Loan Program offers participating companies the chance to make the dream of homeownership more accessible for their workers.

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The program gives potential homebuyers free education, significant savings on purchases and refinancing, and access to downpayment assistance.

According to a statement from HomeStreet Bank, which operates as a subsidiary of HomeStreet Inc., nearly 10,000 individuals and families have used the employer-provided assistance to buy homes. The bank also estimates that those using the program have collectively saved more than $12 million in closing costs and fees.

""The Hometown Home Loan Program was originally developed to help employees qualify for home loans in neighborhoods closer to their work, with the goal of reducing traffic and retaining valuable employees,"" said Andy Slipper, Spokane-area relationship manager for HomeStreet Bank's Affinity Lending program.

""Homeownership is important to the health of our city. Through employer-assisted housing, we can help make homeownership more affordable for working people, as well as provide educational resources to help them prepare for homeownership,"" added Slipper.