Unique Mortgage Programs Encourage Homeownership
Are you a union member or the parent or child of one? By asking this simple question, you could differentiate yourself from the competition and open the doors to homeownership for many of your buyers. That’s because Chase Home Finance offers a union-built and union-backed program called the Union Plus Mortgage Program that provides an exclusive mortgage assistance benefit to members when buying or refinancing a home.
Union Privilege, the benefit arm of the AFL-CIO, selected Chase Home Finance as the program lender in 1996. Over the past year, Chase has expanded support of this strategic alliance as part of the Chase Dream Maker Commitmentsm—an $800 billion commitment through 2010, providing increased home financing to minority borrowers across the full economic spectrum, low-to-moderate income borrowers, and new immigrant families nationwide. To date, more than 24,000 union members and their families have made their dreams of homeownership come true through the Union Plus Mortgage Program.
The Union Plus Mortgage Program features closing cost savings and a valuable mortgage assistance benefit that supports union members and the investment they have made. For example, if members are out of work as a result of unemployment, disability, or a union-sanctioned strike, and they have had their Union Plus Mortgage for one year, they can receive an interest-free mortgage assistance loan that will make their monthly mortgage payments for up to six months.
This program gives union members peace-of-mind when buying or refinancing a home. Since Chase became the program lender eight years ago, more than 300 members have received support through the Mortgage Assistance Program, totaling $1.2 million in mortgage payments.
The best part of the program is that this extra protection is free to participating union members. In addition, the benefit isn’t limited to union members only—their parents and children are eligible, too.
Since the AFL-CIO has more than 13 million members nationwide, that means millions of additional opportunities.
When you are able to tell your prospective buyers about a program they never knew about, you will gain an edge over the competition. Your buyers will appreciate your knowledge of this valuable program that they received as a result of your relationship with Chase Home Finance, and they will thank you by sending more referrals your way.
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