HomeStreet Bank, Seattle, is making its Hometown Home Loan Program available to season ticket holders of the city’s pro football team, the Seahwawks, and the Sounders Major League Soccer franchise.
There are a significant number of front-office staffers who work for both teams. The average attendance at a Sounders game in the 2013 season was 44,038, which an article on the NBC Sports website notes was higher than the average for the Seattle Mariners baseball team.
The Hometown Home Loan Program was created in 1994 with the city government to help police and fire department personnel qualify to purchase loans in the municipality that employed them, thus increasing homeownership in Seattle.
Today, the program is available to employees at more than 100 private employers, municipalities and trade unions in Washington, Oregon and Hawaii.
It features a 50% reduction on loan fees, access to downpayment assistance and free homeownership education. The average borrower can save between $1,300 and $1,700 in closing costs and fees, the bank says.
“In addition to the desire to simply save money on closing costs and fees, there is an increased need for families to develop stronger financial management skills,” says Dianne Wasson, vice president and affinity lending manager.
Seahawk and Sounder fans and employees can use the program for a home purchase or refinance in five states: Washington, Oregon, California, Idaho and Hawaii.
HomeStreet recently opened lending offices in Kennewick, Wash.; Mill Creek, Wash.; and Bend, Ore.