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Helping First Time Home Buyers Reach Their Dreams

June 6, 2023

Written by Jacqui Gibbs, 1st Vice President and Fair Lending Officer 

Having a home where you can grow, develop, and take care of your family’s needs is one of the most important things in life. Some people take having a sheltered home for granted. However, this is what provides you with security, stability, and the opportunity for wealth creation. Homeownership gives you the opportunity to move forward and turn your attention to other great challenges that life has to offer – things such as career advancement, educational opportunities or just hearing your children playing in their own backyards! These are the things which make homeownership and family FUN!  

When we work with clients, we’re always excited to talk to them about the benefits of buying that first home.  Often, after periods of housing uncertainty or frequent moves, finally owning a home can be a huge source of relief. Having a place they can call their own comes with a sense of peace of mind and security. Frequently, this removes a great deal of stress that clients have been carrying around with them.

However, the cost of homeownership has increased so much that many believe it’s out of reach. Instead, too many people settle for paying exorbitant rent for a smaller living space.

This is why we are so excited to work with first time home buyers to help them with their path toward homeownership. Our team at Kearny Bank spends a lot of time developing relationships with community leaders and Realtor partners in designated areas. These relationships, combined with support from nonprofit organizations and programs like our First Time Home Buyer Loan Program, allow us to accelerate the trajectory of homeownership.

One such success story is detailed below:

One of our Realtor Partners, Bill Flagg of Queen City Realty and the past President of the North Central Jersey Association of Realtors (NCJAR), invited Kearny Bank to participate in the first Housing Fair given in the Central Ward of the City of Newark. Hosted in June 2022 at the Metropolitan Baptist Church in honor of National Homeownership Month, the turnout of residents in Newark was estimated in the hundreds. Senior Mortgage Advisor Jewel Williams and I represented Kearny Bank at the fair, and we were able to share information on Kearny Bank’s First Time Home Buyer (FTHB) program and $9,500 grant offering to many of the participants including the Coleman family. Through the FTHB program, we were able to provide the Coleman family a discounted rate, lower down payment options, and lender paid mortgage insurance, all delivered with our usual exceptional standard of service. I was so excited to see them able to buy their first home because of this program!

This same Housing Fair & Expo is taking place again in the City of Newark at the Metropolitan Baptist Church on June 24 from 10:00 AM - 3:00 PM, and we hope to be even more successful than last year! If you’re interested, I hope you’ll sign up for the event.

 

About Jacqui

Jacqui Gibbs is a 1st Vice President and Fair Lending Officer at Kearny Bank with primary focus on increasing lending and homeownership in low and moderate income areas and underserved communities. It is not only her professional goal but also her personal passion. Born, raised and educated in Newark, NJ Jacqui loves to see others like her own a home. One of the biggest challenges confronting the mortgage industry is affordable homeownership.  Her first order of business when joining Kearny Bank was to help develop and introduce a First Time Home Buyer product that would help increase homeownership in many of the above mentioned communities. Jacqui is passionate about her work and spend a lot of time establishing and fostering relationships with clients in underserved areas while also creating inroads to realtors, realtor organizations, nonprofits and community groups. Her goal is to increase Kearny Bank visibility while building trust.

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