Members Only

Mortgage and Real Estate Program Offers Members-Only Benefits

Thanks to Union Member Mortgage and Real Estate, buying or selling a home has never been easier or more affordable for union members and their immediate families. And thanks to several recent mortgage benefits enhancements, this popular program now serves members of participating unions even better.

Key program features include a $350 credit toward closing costs, which typically covers the credit check and home appraisal. (This savings benefit is applied only in instances where the member closes a program loan and uses the program's real estate benefit to purchase the home.) Regional pricing flexibility is also available to better serve members in competitive real estate markets. And Federal Housing Administration (FHA) loans, Veteran’s Administration (VA) loans and local bond programs are now available to members in most states.

In addition, the program features competitive rates, low down payments and the convenience of either handling the entire mortgage process over the phone or in person (in areas where the mortgage lender has branch offices).

The program's real estate benefit, which is available by calling the same toll-free number, offers members that list a home for sale a comprehensive home warranty plan (a $350 value) at no additional cost. This home warranty plan provides members with valuable protection from unexpected breakdowns in the home's mechanical systems and appliances while their home is on the market, and for a full year after the home is sold. It also enhances the homes marketability.

"Union Member Mortgage and Real Estate can add up to real savings for members who use all parts of the program," said Union Plus President Leslie Tolf.

"If you add the mortgage benefits plus the typical $350 value of the home warranty plan, you end up saving $700 when you both buy and sell through the program. Plus, you have the convenience of handling the entire process over the phone."

Savings and convenience aren’t the only benefits Union Member Mortgage and Real Estate has to offer. The program also includes several union-members-only features such as assistance fund benefits for members who are laid off or disabled.

Of particular help to members just entering the housing market are the program's first-time buyers features. These options allow qualified applicants (including members, their parents and their sons and daughters) to put as little as 3 percent down when buying a home. (The typical down payment required by many lenders is a minimum of 5 percent.)

"With the first-time buyers benefits, members who previously were shut out of the housing market may now be eligible for the loan they need to purchase a home," said Tolf. "Union Member Mortgage and Real Estate helps make the American dream of owning a home a reality."

Mortgage loans are made through Chase Home Finance. The union has no involvement in loan decisions.

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