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East West Bank details low‑down, 25K micro‑HELOC and investor loans for NYC buyers
Summary
On a BronxNet/New York City Hispanic Chamber of Commerce roundtable, East West Bank representatives described a set of community lending products — including a 3% down 'bridge to homeownership', a $25,000 micro‑HELOC and streamlined investor loans — aimed at expanding access to homeownership inside New York City's five boroughs.
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…
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