Union Plus Helps Local 21 Illinois Member Buy First Home

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| Union Plus Mortgage helped Local 21 Illinois member Demetrius Grant purchase his first home, this Chicago bungalow. |
Buying a home for the first time can be a daunting task. Luckily for Local 21 Illinois member and first-time homebuyer Demetrius Grant, he had the help of Union Plus Mortgage. Grant knew what he wanted, a house in his hometown of Chicago and the lowest price on his home mortgage.
The Union Plus Mortgage program, along with its lending partner Chase, worked together to give him the best deal possible. His Union membership and being a first-time homebuyer made him eligible for lower fees and interest rates – better than the other companies Grant researched. In addition, the paperwork was done quickly and help was only a phone call away.
It was finding a home that was the hard part, but now Grant, a marble finisher, is a proud homeowner of a tri-level bungalow in Chicago.
“Realizing I’m a homeowner can be overwhelming. I had never lived in a house. I always resided in an apartment,” said Grant. “But having my own place is very nice and convenient.”
When Grant looks back on the experience, he said he is “very satisfied” with the service he received and appreciates the financial benefits and safety protections of the Union Plus Mortgage program.
The program helps union members with closing costs, plus other benefits tailored for each member. For union members who are out of work due to unemployment, disability, or a long-term strike or lock out, Union Plus Mortgage provides interest-free loans and grants so families don’t have to worry about making payments. No other mortgage company offers these benefits.
Union Plus Mortgage is one of many consumer benefits and services available to BAC and millions of other union members through the AFL-CIO and Union Plus.
Union Plus has never offered nontraditional subprime mortgages such as interest-only ARMs, which are the cause of so many recent foreclosures. Most union members who apply to Union Plus are interested in obtaining traditional 30-year fixed mortgages. Although Union Plus does offer traditional ARMs, an applicant’s current income must be deemed adequate to cover future increases before being approved. |
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