Hancock Whitney Program Helps Homebuyers

Young Family In Their New Home
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NEW ORLEANS – As National Homeownership Month draws to a close, Hancock Whitney is touting results of its “Plan Your Way Home” initiative to increase homeownership opportunities for local families. Launched in 2018, the program combines financial literacy training and credit counseling with more flexible credit opportunities – as well as grants of up to $5,000 to help with closing costs. More than 130 first-time homebuyers have taken part since the program’s debut in 2018.

Plan Your Way Home works because of the emphasis on the plan, said Tish M. Allen, Hancock Whitney’s vice president of community lending.

“We fully understand the needs and goals of our clients and put in the work to customize a plan for those that are ready today and those who are not immediately ready to engage in the process,” she said. “And, we don’t do this alone, we partner with many different community-based housing agencies who also exhibit a sincere desire to assist them. When clients are willing to receive our help and are committed to working toward their dream no matter how long it takes, we’re there to guide them through every step.”

Allen said Plan Your Way Home is a one-stop shop homeownership resource for homebuyers who need access to housing assistance, homeownership education and/or mortgage loan financing.

“Some mortgage loan programs may not require a downpayment, others can be as low as 3 percent, and there are down payment/closing costs assistance programs available through federal, state and local housing agencies that may be combined with a first mortgage loan,” she said. “In addition, they are able to prepare themselves by connecting with HUD-approved nonprofit counseling agencies that offer pre-purchase credit counseling, homebuyer and financial education.”

Hancock Whitney created the Plan Your Way Home Lender Credit of up to $5,000 to help cover closing costs and initial property taxes, homeowners and flood insurance. Hancock Whitney said it has funded more than $330,000 to eligible borrowers.

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