Members Only

Mortgage Program Offers Members-Only Benefits

Thanks to our mortgage program, buying a home has never been easier or more affordable for members and their immediate families. And thanks to several recent mortgage benefits enhancements, this popular program now serves members even better.

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).

Savings and convenience aren’t the only benefits the mortgage program has to offer. The program also includes several 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. "This program 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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