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BENEFITS
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.
Manufactured
Homes Referrals
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.
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