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Columbia Bank

Advancing Access Program

In Majority Black and Hispanic Census tracts in Columbia Bank’s Community Reinvestment Act (CRA) area. [1]

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This Special Purpose Credit Program (SPCP), is intended to advance access to affordable home loan solutions in majority Black and Hispanic census tracts as defined by the Federal Financial Institutions Examination Council (FFIEC).


Qualified borrowers looking to purchase or refinance a primary residence in the defined communities can take advantage of:

Discounted Rates [1]

Access discounted rates when you purchase or refinance in a majority Black or Hispanic census tract and meet the income requirements on eligible mortgage programs [4]

Grant Assistance [2]

Secure $10,000 in grant funds for down payment and closing costs. Not available on refinance transactions

No Private Mortgage Insurance Required [3]

We waive PMI, even though you are not required to put 20% down

Get Started [4]

Apply online and choose a product of your choice. Our Account Executives will review if you qualify for this program. You can also contact a mortgage representative to find out if you meet income or any additional requirements for this product

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[1] Available for purchase mortgages on owner-occupied primary 1 to 4-family residences located in a majority Black or Hispanic census tract (MBHCT) within the Bank’s Community Reinvestment Act (CRA) assessment area. A MBHCT has greater than 50% in Black or Hispanic population. The Bank’s CRA assessment area is comprised of the following counties in the state of New Jersey: Bergen, Passaic, Middlesex, Monmouth, Morris, Essex, Union, Burlington, Camden, Gloucester, Hudson, Hunterdon, and Somerset. Eligible borrowers earn less than or equal to 120% of the FFIEC or HUD’s updated Median Family Income, whichever is greater of the two limits, for properties located in a MBHCT in the Bank’s CRA assessment area. Rates and terms will depend upon several factors including, but not limited to, the loan type, loan size, property type, loan purpose, your credit score, and property value. All loans are subject to credit approval in accordance with Columbia Bank’s lending policies. Certain restrictions apply. This offer can be withdrawn or modified at any time. Contact one of our Account Executives to find out whether your property is in a qualified census tract, and to learn more about income requirements, purchase price limits, current rates, debt-to-income ratio requirements, and fees.

[2] Columbia Bank’s Advancing Access Program provides up to $10,000, in the form of a grant, to be used towards the down payment and/or closing costs. The homebuyer(s) must have an equity contribution of a minimum of $1,000 towards the purchase of the property. The equity contribution must be used towards down payment, closing costs or costs paid before closing as identified on the Closing Disclosure. The grant is subject to repayment if the homebuyer sells the residence within two years of closing. The grant may be used in conjunction with other grant programs, if eligible, including Columbia Bank’s Access Homeownership Grant, the Federal Home Loan Bank of New York (FHLB NY) Homebuyers Dream Program grant funds, and funds made by a federal, state, or local government agencies.

[3] Private Mortgage Insurance [PMI] is not required for purchases with LTVs greater than 80.0% (terms subject to change at any time). Borrowers must have at least 2 months Principal, Interest, Taxes, and Insurance (PITI) in reserves.

[4] Choose from a traditional mortgage product, our Low Fee Purchase Program or our $0 Fee Refinance Program. ARMs, Co-ops, and Investor Owned Properties are not eligible.


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Investments are NOT FDIC Insured, not Bank guaranteed, not a deposit, and not insured by any federal government agency. Investments may lose value.


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Please be advised that deposit and loan disclosures and contractual documents will only be provided in English.

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