East West Bank representatives told viewers on Meetings of the Minds that the bank is offering a suite of flexible mortgage and credit products intended to expand homeownership and stabilize small‑property owners across New York City.

On the roundtable co‑hosted by the New York City Hispanic Chamber of Commerce and BronxNet, Juan Cueto, an East West Bank mortgage officer, described the bank’s “bridge to homeownership” as a first‑time homebuyer product that can serve co‑ops, condos and one‑ and two‑family homes with a 3% down option and, he said, “no mortgage insurance requirement” for qualifying borrowers. Cueto said the program aims to shorten documentation and let buyers qualify with smaller down payments than many mainstream lenders require.

“Instead of doing 20% down, we have options of 3% to 5% down,” Cueto said. He added the bank can consider applicants with lower credit scores and reduced documentation in order to broaden access to financing.

The bank also described a micro HELOC product capped at $25,000 that borrowers can use toward down payment, closing costs, emergency repairs or debt consolidation. According to Cueto, the micro HELOC has no application fee or closing costs passed to the client; the bank conducts desktop or electronic appraisals at its own expense. He described the repayment structure as a seven‑year term (84 months) with the first 24 months operating as a revolving line followed by up to five years to retire the remaining balance.

“Clients only pay interest on the amount they actually borrow,” Cueto said, adding that the product is structured to be low‑cost and fast — he said typical turnaround is under a month.

Marita Bankhead, a second East West Bank representative on the panel, explained a bridge‑to‑home loan option for self‑employed borrowers and investors that allows qualification based on assets rather than traditional two‑year tax returns or W‑2s. She said that product can finance up to $2 million for primary or investment properties, noting that lenders typically expect substantial down payments (the panel cited 50% as a common guideline) but that East West will consider flexibility for qualified borrowers.

Both guests emphasized the bank’s CRA (Community Reinvestment Act) motivation: providing affordable lending, financial education and community banking programs that earn CRA credits while serving neighborhoods with rising housing costs.

Cueto and Bankhead clarified some program mechanics: the bridge to homeownership requires at least 1% of the purchase price from the borrower as a “seed” amount, while the remaining portion of a 3% down payment may come from gifts, grants or the micro HELOC; co‑op boards may still impose their own, often higher, down‑payment requirements. The bank said the bridge product can accept back‑end debt‑to‑income ratios up to about 55% for qualified applicants but affirmed it still applies income verification and credit criteria to make responsible underwriting decisions.

Both representatives noted a principal limitation: the specialized programs discussed on the show are available only within New York City’s five boroughs and do not extend to outside counties.

The segment closed with contact information: Juan Cueto (juan.cueto@eastwestbank.com) and Marita Bankhead (marita.bankhead@eastwestbank.com), plus a referral to eastwestbank.com for more details.

The program emphasized program features and eligibility mechanics; no formal approvals or policy changes were announced during the discussion.