Loans Offered for Low-Income Buyers
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From Reuters
Citigroup Inc. and a Boston-based nonprofit housing organization said they are teaming up to provide thousands of home buyers with as much as $3 billion in low-cost financing over 10 years.
The bank and the Neighborhood Assistance Corp. of America, or NACA, say the program would primarily help first-time home buyers and assist homeowners who might lose their homes if they don’t refinance at lower rates. It expands a $600-million lending commitment Citigroup had with NACA.
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