News

Union Plus Offers Mortgage Help to Members Who Served in U.S. Armed Forces

30 Oct, 2014

Union Plus wants to make the dream of homeownership a reality for hard-working union members who are veterans of our armed forces. Owning a home is out of reach of far too many, especially those who sacrificed to protect our country.

Union Plus will offer qualified union member veterans a $1,000 grant to offset down payment costs under this new mortgage program. Just 33 percent of veterans report looking for a home within the first year of their return from active duty, citing the high cost of home prices and inability to come up with a down payment as reasons. Grant qualifications include:

Finance their primary residence mortgage through the Union Plus Mortgage program on or after November 1 Be an active or retired member of a participating union Be a veteran of the U.S. Armed Services. Applications must be submitted within 90 days of closing on a mortgage. Limited funds are available and will be awarded in the order eligible applications are received. The Union Plus Mortgage program, with financing provided by Wells Fargo Home Mortgage, has provided $43.6 billion in mortgages to help more than 200,000 union members and their families buy or refinance homes. Benefits of the program include:

Hardship Assistance – Union Plus Mortgage Assistance helps members and their families who are unemployed, recently disabled, on strike, or locked out make their mortgage payments with interest-free loans and grants. Mortgage Assistance has provided almost $10 million to help members keep their loans current and stay in their homes.

Award Card – Union members and their families may receive a $500 Wells Fargo My Mortgage GiftSM award card after closing on a purchase or refinance loan.*

Incentive for First-Time Home Buyers – Union members who are first-time buyers can apply for a $500 First-Time Home Award from Union Plus. Active or retired union members who used the Union Plus Mortgage program to purchase their first home are eligible to apply. They simply need to fill out an application and provide a short, written description of their Union Plus Mortgage program experience and why home ownership matters.

To learn more about the Union Plus Mortgage program and the new Mortgage Veterans Grant, please visit UnionPlus.org/Mortgage.