BMO hosts homebuying events at two Phoenix area branches

As part of our Purpose to Boldly Grow the Good in business and life, we are committed to helping create equity in the communities we serve. On Oct. 8, BMO hosted two Homebuying Made Possible events at the Glendale and Tempe branches in Arizona. At the events, attendees learned about the home-buying process, viewed home listings from an on-site realtor and explored down payment assistance programs.

In early 2022, BMO launched the Welcome Home Grant program which offers grants to eligible borrowers to assist with down payment and closing costs. Customers in our Chicago and Phoenix area markets are eligible for the grant which helps provide relief to homebuyers in Majority Minority Census Tracts. In Phoenix, the grant offers up to $16,000 towards down payment and closing costs for qualified borrowers. Combined with other programs, eligible applicants may receive up to $24,500 of assistance toward accelerating their dream of homeownership.

“Down payment and closing costs are a major hurdle for many families and our new Welcome Home Grant program is designed to help,” says Scott Freudenberger, Vice President and Head, Community Reinvestment at BMO. “BMO is proud to work with Chicago and Phoenix homebuyers and homeowners to provide financial education and down payment assistance to set them up for success and allow them to save their money for the unexpected.”

“Down payment and closing costs are a major hurdle for many families and our new Welcome Home Grant program is designed to help,” says Scott Freudenberger, Vice President and Head, Community Reinvestment at BMO. “BMO is proud to work with Chicago and Phoenix homebuyers and homeowners to provide financial education and down payment assistance to set them up for success and allow them to save their money for the unexpected.”

Along with BMO EMpower, our Welcome Home Grant program is an example of BMO’s efforts to advance an inclusive economic recovery in the United States.