NEW YORK -- Chemical Bank said it was waiving origination fees, or "points," and significantly reducing other home mortgage closing costs for borrowers with low or moderate incomes.

The offer is being made to first-time homebuyers with annual household income of $60,750 or less who apply for mortgages before Oct. 31. Chemical calculated that a customer taking out a $100,000 mortgage at 8% could save more than $2,000 with the offer.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.