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York City employees will have help when trying to buy their first home, thanks to another program in the long standing partnership between the city and Fulton Bank.

Officials from York City and Fulton Bank gathered at York City Hall on Thursday to announce the Homebuyer Advantage Plus Mortgage program, which will provide more than 300 city employees with access to mortgages with “long-term, life-changing” benefits.

Through the program, city employees can obtain a fixed-rate, 30-year mortgage that allows them to purchase their first home with just a 3 percent down payment while also being exempt from paying for private mortgage insurance, said Craig Roda, chairman and CEO of Fulton Bank.

York City employees will be able to finance 97 percent of the value of their first home and will get other special banking benefits, including competitive interest rates, said York City Mayor Kim Bracey.

“For people, particularly young professionals, who are considering purchasing property in an urban area, this program will help to highlight the appeal of investing in the city of York as they look for a place to establish their roots,” Roda said.

Homeownership instills a sense of community pride in residents and adds to the value and sustainability of neighborhoods within the city, Bracey said.

“Owning a home is a keystone for both financial affluence and emotional security,” she said, and the program will give city employees a chance to make a major investment in the community in which they work.

“This program provides the opportunity for the American dream to become a reality for many of our employees that work tirelessly to keep our York beautiful and functioning,” Bracey said.

The Homebuyer Advantage Plus Mortgage program is an added incentive to work in the city, and officials will be able to use the perk to attract and retain city employees, the mayor said.

Most properties within York City limits will be eligible for purchase under the program, as the city sits in a low- to moderate-income census tract, meaning the bank can waive income-eligibility limits, according to Fulton Bank officials.

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