Good Neighbor Plus in Hartford, CT

In the spring of 2022, Liberty Bank, Connecticut Attorneys Title Insurance Company (CATIC) and the Honorable Adam M. Cloud, Hartford City Treasurer (now former), launched a public-private partnership to make homeownership more affordable in Hartford.

This initiative took a three-pronged approach to boosting homeownership rates in Hartford. It improved access to our Good Neighbor Plus product for those looking to buy a home in Hartford. It expanded and built new relationships with local nonprofit organizations to help raise awareness of the benefits of the Good Neighbor plus Program when considering buying a home in Hartford. Moreover, it provided the opportunity for homebuyers to work with a third party to help mitigate expenses and fees associated with buying a home.

Here is how it works:

Homebuyers in Hartford have access to our Good Neighbor Plus Program, which offers a 0.50% reduction in their mortgage rate; flexible credit options including 97% Loan-to-Value (LTV) with Liberty paying the mortgage insurance; a 660 minimum credit score; and a $2,500 rebate at closing to the customer to offset closing costs.

Our Community Development Team and Affordable Lending Officers conduct wide-ranging community outreach to local groups — in partnership with city officials — such as churches and community organizations.

We enlisted CATIC, a Connecticut-based title insurance company that provides specialized services to the real estate community. CATIC offers attorney assistance and other professional expertise as well as title insurance products at a discount rate to potential homebuyers in Hartford who participate in the Good Neighbor Plus Program.

To date, this multi-faceted initiative has been very impactful on Hartford, city residents and the local economy. We are looking to replicate and expand the program to oth