First Place, Home Depot team up to help home buyers

June 23, 2011 at 4:31a.m.

WARREN

First Place Bank and The Home Depot announced a joint venture to help home buyers.

The two will join together and help home buyers purchase properties that require significant improvements through one process.

“There’s a large inventory of ‘fixer-upper’ properties available for sale right now. But the procedure to secure financing and ensure that the renovation meets underwriting guidelines used to be cumbersome,” said Bruce Wenmoth, Executive Vice President Mortgage Lending for First Place Bank, in a release.

Once the buyer selects a home, First Place will help secure a loan through FHA 203k or Fannie Mae’s Home Path Renovation program.