RBC in Your Community

RBC Centura confirms commitment to provide low-to-moderate-income mortgages

New self-help mortgage product will offer easier access to mortgages for all

Rocky Mount, N.C., July 12, 2005 — RBC Centura has recently added a self-help mortgage product, in addition to its already established mortgage products, which will provide easier access to mortgages, specifically for low-to-moderate-income customers.

The new RBC Centura Self-Help product will offer qualifying customers more credit and underwriting flexibility than ever before. Features include low-to-zero down payment, no permanent mortgage insurance requirement and down payment assistance. RBC Centura retains the servicing on these loans, so customers can continue to deal directly with the bank on matters concerning their loans after they close.

To ensure that customers understand all aspects of their mortgage decisions, RBC Centura provides financial education, as well as homeownership seminars to consumers, community resources, local housing-based non-profit organizations and members of the faith community. Most recently, the company reached out to housing counselors to raise awareness of RBC Centura's educational resources. Each of RBC Centura's mortgage originators has participated in training on how to conduct homeownership workshops in their communities, and mortgage originators receive awards form the bank for taking the extra time and care often required to help low-to- moderate-income families realize their goal of homeownership.

"There are not many things more gratifying than helping a family purchase their first home," said Bobby Chesney, president of RBC Centura's Mortgage Division. "Not only does the individual or family benefit, but home ownership also helps stabilize the community and fuel the community economy. I'm excited about our new product that will make home-ownership more accessible for everyone."

	More on the RBC's support for community economic development
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