Union Home Plus now offers:
Grants for Closing Costs
Interest Rate Reductions
Grants And Down Payment Assistance
Assisting Union Members
WHAT IS A GRANT?
A “grant” is a general term for funds that are not expected to be repaid. The most popular type of grant is for financial support. Union Home Plus Grants provide grants to assist Union members with the costs associated with a home sale or purchase. These are restricted grants, where recipients may only use funds for the exact purpose of buying or selling a home as presented by Union Home Plus.
Easy Money
GRANTS FOR CLOSING COSTS
Unlike Down Payment Assistance, Union Home Plus Grants are NOT paid back! It’s like using free money to pay your home purchase or selling costs! That’s correct, our Union Home Plus Grants are tied to the purchase or sales price and can be used to pay out-of-pocket expenses so you can keep your money in your pocket!
Increase Your Home Affordability
GRANTS FOR INTEREST RATE REDUCTIONS
Another option with your Union Home Plus Grant is that you can lower your mortgage interest rate (called a Permanent Rate Buy-down), which lowers your monthly payments and may allow you to qualify for more home! It’s a very real tool that simply increases your home affordability!
DOWN PAYMENT ASSISTANCE
Our down payment assistance is only for homebuyers who use our home loan programs. If your household income is under the program limits (up to $180,000), your credit score is at least 620, and you’re otherwise qualified for a home loan, you are probably eligible.
Up to 3%, 4% or 5% using Conventional or FHA. Although it is paid back when you refinance or sell the property, the monthly payment has a deferral option which means there is no monthly payment due!