Photo Courtesy of Columbia Bank
Columbia Bank Launches “Advancing Access”, a Special Purpose Credit Program that will Pledge Nearly $128 Million in New Loans at Subsidized Rates to Black and Hispanic Neighborhoods Throughout New Jersey
the staff of the Ridgewood blog
Fair Lawn NJ, Columbia Bank Columbia Bank recently announced the launch of its “Advancing Access” special purpose credit program. This is the latest addition to its affordable home loan solutions. Through the program, Columbia Bank aims to advance homeownership in Jersey City, Paterson, Newark and Camden, as well as in other communities throughout the state, through affordable loan solutions in Black and Hispanic neighborhoods. Over a three-year period, the Bank will pledge approximately $125 million in principal loan originations at subsidized rates, and $3 million in subsidy grants. Any borrower seeking to purchase or refinance a home in these communities, regardless of race or ethnicity, is welcome to apply.