Celebrating Our First Closed Mortgage in New Franklin First Special Purpose Credit Program
Columbus, OH (May 22, 2023) – We recently celebrated some of the first mortgage closings of its Franklin First Special Purpose Credit Program (SPCP). The program is designed to assist underserved communities and populations in Franklin County, Ohio, pursue home ownership through expanded credit loan programs and closing cost assistance.
One of the first individuals to complete the program and close on their home is Monique Thomas. Monique, a single mother of three, purchased her new home in the eastern Columbus suburbs of Franklin County. Monique partnered with First Commonwealth mortgage teammate Clyde Owens during her experience with the program.
“Without Clyde Owens, First Commonwealth Bank and its Franklin First program, my dream of homeownership would not be the reality it is today,” offered Monique. “My realtor, Dairrick Alexander, was also key in assisting me and called Clyde his ‘ace in the hole’ when my first lender couldn’t offer the same loan opportunities as First Commonwealth. I have a daughter with Downs Syndrome and wanted to find a permanent space to accommodate her needs. Clyde was there for me every step of the way and gave me peace and assurance that we were going to get across the finish line. I always had a goal of becoming a homeowner by age 35 and am proud to say we closed eight days before my 36th birthday.”
In addition to more favorable interest rates and credit requirements, applicants of Franklin First are eligible to receive a waiver of approximately $1,400 in mortgage origination charges and up to $20,000 in down payment and closing cost assistance.
“We are a community bank that takes very seriously the opportunity to serve every community within our footprint,” said Stan Foraker, Mortgage Banking Executive with First Commonwealth Bank. “We are proud of the Franklin First Program and look forward to helping create more stories like Monique’s moving forward. We already have a significant number of additional applicants who are also moving through the program with the goal of them also accepting the keys of their new home in the near future.”
About First Commonwealth Financial Corporation
First Commonwealth Financial Corporation (NYSE: FCF), headquartered in Indiana, Pennsylvania, is a financial services company with 126 community banking offices in 30 counties throughout Pennsylvania and Ohio, as well as business banking centers in Pittsburgh, Pennsylvania, and Canton, Cincinnati, Cleveland and Columbus, Ohio. The company also operates mortgage offices in Wexford, Pennsylvania, as well as Hudson and Lewis Center, Ohio. First Commonwealth provides a full range of commercial banking, consumer banking, mortgage, wealth management and insurance products and services through its subsidiaries First Commonwealth Bank and First Commonwealth Insurance Agency. For more information about First Commonwealth or to open an account today, please visit www.fcbanking.com.
Vice President / Communications and Media Relations