Community Lending
Community Lending is a specialized department within Fremont Bank with dedicated loan agents reaching out by
making loans to borrowers who reside in specific geographical census tract areas or who have gross annual incomes
not exceeding 80% of the median family income. The Community Reinvestment Act, sometimes better known by the
acronym CRA, enacted by Congress in 1977, encourages banks to help meet the credit needs of their entire community.
Our goal in the Community Lending department is our dedication, focus and concentration on making loans to borrowers
who dream of owning their own home.
Below are some programs that we offer:
- First time home buyer program
- Down payment assistance
- No Closing Cost options
- Point and fee programs
Here is a listing of some of the partnerships and cooperative efforts:
Local city down payment assistance programs:
Hayward, Fremont, San Jose, Pleasanton, Union City, Livermore, San Leandro
Regional partnerships:
Neighborhood Housing Services of Silicon Valley - down payment assistance program; East Bay Delta Housing, through
executive partnership of First Home, Inc.; Mortgage Credit Certificate program with Alameda County and Santa Clara
Counties, as well as Reissue Mortgage Credit Certificate; Multilingual Homeownership Assistance, in cooperation with
Lao Family Development and Freddie Mac.
State partnership:
California Financing Agency affordable housing program and down payment assistance.
National programs:
Federal Home Loan Mortgage Corporation (FHLMC) Community Gold; Federal Home Loan Bank, Workforce Initiative Subsidy
for Homeownership; Federal Home Loan Bank, Individual Development and Empowerment Account.
We also provide First Time Homebuyer Seminars at convenient Fremont Bank locations as well as at local businesses,
school districts, churches and city programs in cooperation with the host cities
To find out if you qualify as a Community Lending borrower, contact one of our Community Loan agents. Be prepared to
identify: 1) the subject property 2) gross annual income. It is also recommended that you complete a First-Time
Home Buyer Seminar and Certification that is offered by your city.
You must meet one of the two eligibility requirements: 1) You must be refinancing or purchasing the subject property
within a specific geographical census tract (low-moderate) and/or 2) Your annual income is limited to 80% of the median
family income within your county.
Like all borrowers, you will be required to provide copies of your W2's, paystubs for current month, recent bank
statements, insurance declaration policy and mortgage statements. Upon submitting a loan application (the $300.00
application fee is waived), a Community Lending Loan agent will be in close contact with you in order to ensure a
quick and smooth process with a refinancing loan or a purchasing loan.
For more information, contact a Community Loan agent at:
Email: cra@fremontbank.com
Call: (866) 222-6146
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