you could earn a $5,0001 credit toward a new home.
Available to eligible borrowers who meet program requirements. Apply for conditional approval to get started.
Let's start your homeowner journey off right.
Take the first step in your homebuying journey toward conditional approval by applying for a KeyBank mortgage online. Once reviewed, you may receive a conditional approval amount based on the information provided. From there, a licensed mortgage loan officer will work with you to determine if you're eligible for $5,000 toward a new home. Plus, you can get a 0.25% interest rate relationship discount2 on a new KeyBank mortgage when you Bank with Key or when you sign up for automatic payments from a KeyBank checking account.
What is a KeyBank $5,000 Home Buyer Credit?
KeyBank offers eligible homebuyers up to $5,000 that can be used for closing costs or to prepay for potential costs associated with their new home, such as mortgage, flood, and hazard insurance, escrow deposit, real estate taxes, and per diem interest.
How to qualify:
- Buy an owner-occupied home with a residential mortgage through KeyBank.
- The home must be in an eligible census tract within an eligible community.
Call 1-866-414-4533 to talk to a Mortgage Loan Officer.
Dial 711 for TTY/TRS
NOTICE: This is not a commitment to lend or extend credit. Conditions and restrictions may apply. All home lending products, including mortgage and home equity lines of credit, are subject to credit and collateral approval. Not all home lending products are available in all states. Hazard insurance and, if applicable, flood insurance is required on collateral property. Actual rates, fees, and terms are based on those offered as of the date of application and are subject to change without notice.
1
Available on primary residence first lien purchases only. Property must be located in an eligible community in KeyBank's retail footprint or Florida. Eligible communities are determined by KeyBank and subject to change without notice. Additional terms or restrictions may apply. Ask us for details. Credits up to $5,000 to be used towards closing costs and prepaid fees.
2
To receive relationship benefits on a new KeyBank mortgage loan or home equity line of credit (“HELOC”), which provides a 0.25% interest rate reduction, you must have owned a Relationship Account at any time during the loan application process, but no later than prior to the issuance of your mortgage Closing Disclosure (for residential mortgage) or prior to the closing of your HELOC. This Interest rate reduction is available on new KeyBank mortgage loan and HELOC applications only.
The mortgage “Closing Disclosure” is a standardized document required by regulation, which provides a summary of the final terms and closing costs of your mortgage loan, including the loan amount, interest rate, monthly payments, and closing costs. The mortgage Closing Disclosure is to be provided no later than three (3) business days before the closing of your mortgage.
“Relationship Account” means (A) an open Eligible KeyBank Consumer Checking Account with five (5) or more Qualifying Transactions posted to a single Eligible KeyBank Consumer Checking Account in a calendar month, which may not be aggregated across other accounts you own, OR (B) an open Key Private Bank Checking or Key Private Bank Personal Checking account.
An “Eligible KeyBank Consumer Checking Account” means: any KeyBank consumer checking account designated as a personal checking account by KeyBank, including KeyBank’s Hassle-Free checking account, but excluding a health savings account.
“Qualifying Transactions” include, but are not limited to, point of sale transactions, bill payment(s), ATM transactions, check, cash or direct deposits, and electronic funds transfers. Qualifying Transactions exclude adjustments, advances, reversals, refunds, account to account transfers, person-to-person transfers, interest, service charges, and service fees. Qualifying Transactions must be completed at least three (3) business days prior to application to be eligible for inclusion in determining whether you met the “Relationship Account” portion of the “Bank with Key” criteria.
As an alternative to the relationship benefit, you may obtain a 0.25% interest rate reduction if you complete and submit, no later than prior to the issuance of your mortgage Closing Disclosure (for residential mortgage) or prior to the closing of your HELOC, the Monthly Automatic Payment form to have your recurring payment for your KeyBank mortgage loan or HELOC automatically deducted from an “Eligible KeyBank Consumer Checking Account”. Refer to the Monthly Automatic Payment form for more details.
For fixed-rate mortgages, the 0.25% interest rate reduction will be reflected in the interest rate on the Promissory Note. For adjustable-rate mortgages (“ARMs”), the 0.25% interest rate reduction will apply to the initial fixed interest rate period and will be reflected in the maximum amount the interest rate can increase of the term of the loan, subject to the minimum interest rate that may be charged per the terms of the Promissory Note or Agreement. For HELOCs, the 0.25% interest rate reduction will be applied to the margin, thereby reducing the applicable variable annual percentage rate (total annual percentage rate consisting of the applicable index value plus margin value).
Please note that, if the Monthly Automatic Payment form or relationship benefit requirements are not satisfied before the issuance of your mortgage Closing Disclosure (for residential mortgage) or prior to the closing of your HELOC, your closing may be delayed and any associated rate discount may be removed, as these requirements are tied to the eligibility for an interest rate discount.
The 0.25% interest rate reduction may not be combined with certain other discounts or promotions and may not be available for all home lending products. Other terms, conditions, and/or limitations may apply. Contact KeyBank Home Lending for more details.
NMLS# 399797. Equal Housing Lender.