SouthState Invests $10M In Forgivable Second Mortgage Fund To Aide Homebuyers
Portfolio Pulse from Happy Mohamed
SouthState Bank has introduced a $10 million Opportunity Advantage Loan Fund to help low-to-moderate income homebuyers overcome financial barriers in purchasing a primary home. The fund is available for homebuyers in Alabama, Florida, Georgia, the Carolinas, and Virginia for applications received after May 15, 2023.
May 30, 2023 | 1:49 pm
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SouthState Bank's new $10 million Opportunity Advantage Loan Fund aims to help low-to-moderate income homebuyers, potentially increasing the bank's customer base.
The introduction of the Opportunity Advantage Loan Fund is a positive move for SouthState Bank as it targets low-to-moderate income homebuyers, a segment that may have been underserved. By offering this new mortgage option, the bank can potentially attract more customers and increase its market share in the regions it operates. This could lead to an increase in the bank's revenues and profitability, positively impacting its stock price in the short term.
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