First Bank Gives Back to the Community

Fort Collins, CO, June 12, 2008 - Funding Partners, a not-for-profit community development financial institution, recognizes First Bank for its generous support of affordable housing needs in Colorado.  

First Bank has awarded Funding Partners $35,000 to help offset overhead expenses attributed to the House to Home Ownership (H2O) Down Payment Assistance Program® and third party Contract Loan Services. 

H2O is a revolving loan fund providing first time home buyers with down payment and closing cost assistance up to 5% of the home purchase price. In 2007, through direct lending, the organization provided assistance to 82 first-time homebuyers through the House to Home Ownership (H2O) Down Payment Assistance Program® with a production volume of $800,811. 

Funding Partners’ contract loans services are contractual relationships with outside agencies, public authorities and private-sector employers, FP originates loans and services portfolios that are similar in nature to our own programs.  In 2007, FP originated 86 subordinate residential mortgages representing $1,021,936 in production volume.

Across all residential assistance programs, FP has originated 1,296 mortgage loans representing $10,505,319 in production volume within 26 Colorado counties since 1999.

First Bank has been an integral part of Funding Partners success since the inception of the company, providing continuous financial support through grants and investment contributions.

For more information visit www.fundingpartners.org