GRAND RAPIDS, Mich. (WOOD) – Mercantile Bank is addressing the affordable housing crisis with a major investment. The bank has committed $250,000 to its Extra Credit Home Buyer Assistance Program.
Upfront closing costs can be a burden for first time home buyers. The Extra Credit Program provides qualified homeowners up to $3,000 to help with closing costs, insurance, and taxes. Those purchasing a home in a low to moderate income geographic area may also qualify.
Mercantile Bank Senior Vice President Scott Setlock says reducing barriers to homeownership is important.
“By helping pay some of the upfront costs through our Extra Credit Program, we are hoping to help make owning a home attainable for more people in our communities,” said Setlock.
Participants in the Extra Credit Program will take part in home buyer classes, to provide a full and comprehensive home buying experience.
For more information, go to www.mercbank.com