First National Bank announces resources to address homeownership in vulnerable communities

© Shutterstock

Pittsburgh-based First National Bank announced Thursday that it would be adding to its product offering a series of solutions specifically designed to help vulnerable communities financially.

The products include a closing cost assistance program, online mortgage portal, and no-overdraft checking accounts, design to expand FNB’s reach, improve access and encourage homeownership and financial independence for underserved consumers in its footprint.

“Homeownership brings significant benefits, both for families and for the communities where they live,” said Vincent J. Delie, Jr., chairman, president and CEO of F.N.B. Corporation and First National Bank. “Our goal is to provide consumers with additional products and resources to overcome challenges, manage their finances more effectively, and accelerate their ability to buy a home.”

The closing cost assistance program would provide up to $2,500 toward closing costs for low- and moderate-income borrowers or borrowers purchasing a home in a low- to moderate-income or predominantly minority community. As part of the Bank’s Home Ownership and Home Improvement and Rehabilitation Program, the closing cost credit would substantially reduce or even eliminate up-front costs for first-time buyers and families who may not otherwise be able to buy a home.

The bank also launched a fully digital home mortgage experience for customers to access information, products, and services online. The secure online portal would allow customers to get preapproval for FNB mortgage products.

The no-overdraft checking account, eStyle, is designed to give customers a way to avoid overdraft fees, the bank’s second most popular account.