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Kevin McHugh of IBEW Local 3 looked forward to the day when he could afford his own home. With the help of the Union Plus benefits he was finally able to make his dream of homeownership come true.
"I knew the first order of business was to establish credit," says McHugh of Sunnyside, NY. So he turned to his union for help. McHugh looked into the Union Plus Credit Card program and got a secured credit card to start on the path of establishing good credit. The Union Plus Secured Card is designed for union members working to establish or rebuild credit.
While he built his credit record, McHugh spent the next several years scrimping and saving for a down payment. He had even found his perfect home — a co-op, close to New York City at a price he could afford. Once again, he sought help from his union in order to obtain a home mortgage loan. With a now "gleaming" credit history, McHugh contacted the Union Plus Mortgage program, offered through Chase, to see what they had to offer.
"The Chase home mortgage loan department was very cooperative, especially when they learned I was a union member," McHugh says. "And, at a time when all of my finances were about to be tied up, the Union Plus Mortgage Program saved me thousands of dollars."
The Union Plus Mortgage Program is packed with benefits especially designed for union members, including:
- Mortgage Assistance Program helps members who are laid off, on disability or on strike
- Lower closing costs and fees save union members an average of $653
- Programs for borrowers with "less than perfect" credit
- Low down payments for qualified buyers
- Mortgages for children or parents of union members
- Advice from expert consultants
In addition, Kevin won a Union Plus "Welcome to Your First Home" award by simply completing a survey and submitting it, along with a short essay about his home buying experience. First Time Home Buyer Award Winners receive a $500 gift card from a unionized grocery store in their area.
Kevin was able to achieve his life's goals on and off the job because of the Union Plus benefits from his membership in IBEW. "Through the Union Plus Mortgage Program, my dream of owning my own home has finally become a reality," McHugh says with pride.
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