AFGE Mortgage & Real Estate Program

Description

This program offers AFGE members, their children, and parents an easier and more affordable way to obtain a mortgage. A special component of this program is designed to help the first-time home buyer realize the American dream of home ownership.

Vendors

Mortgage:
Chase Manhattan Mortgage Corp.
200 East Campus View Road
Columbus, OH 43235

Real Estate:
RE/MAX International Relocation Services, Inc.
8390 East Crescent Parkway
Suite 500
Greenwood Village, CO 80111-2800

Eligibility

All current dues-paying members of AFGE, their children, and parents are eligible to use this service.

Cost

$250 collected up-front is applied towards the cost of the credit report and appraisal.

Customer Service

Problems or concerns that are not addressed to the member's satisfaction by the vendor should then be referred to AFGE's National Benefits Coordinator, M&O Department, 80 F Street, NW Washington, DC 20001, 1-202-639-6410.

Special Notes

• Competitive regional interest rates.
• Refinancing of existing mortgages.
• Special help for first-time home buyers.
• Down payments can be as low as 3%.
• Pre-approval of loan amount makes you a cash buyer.
• Low fees and closing costs.
• No-points loan to lower up-front costs.
• Financial assistance program to help members unable to meet their monthly mortgage payments due to RIF or disability.
• FHA, VA and State Bond programs available.

Specail Features for First-Time Home Buyer

To meet the special needs of first-time homebuyers, the program will enable qualified members to obtain mortgages with a down payment as low as 3% down. Expanded approval criteria allow members who may not qualify with other lenders a chance to purchase a home. This applies to the member's first home purchase and is available to anyone whose family income meets government guidelines.

Interest Rate

Because all mortgages are sold on the "secondary market" to private investors, the interest rate charged on mortgages is the interest rate the secondary market requires. Rates are determined daily by the vendor on a regional basis.

Geographic Limitations

All members residing in the 50 United States may use this program. Modified program available in Puerto Rico and the Virgin Islands.

Savings When You Use the Real Estate Services

Members are entitled to money-saving real estate services which include:

• Receive $350 towards closing costs when you use the program's real estate services to purchase your home, and close your loan through the mortgage program.
• Receive a comprehensive home warranty plan at no additional cost when you list your home for sale through a program real estate agent.

Important

To qualify for these benefits, you must call Union Plus® Mortgage and Real Estate and register.