Union Members Homebuyers Program

Home Loans Mortgages Union Members Homebuyers Program

Home Loan Program for Local Union Employees

The First Federal Union Members Homebuyers Program is available to any union members that live or work in Linn County looking to purchase a home in the Cedar Rapids area. The loan’s terms recognize the benefits of being a member of a union, including reduced down payment requirements and closing costs.

 

Program Details

  • Minimum down payment of 3% of purchase price
  • Down payment funds can be a gift from a family member
  • A Union Member Homebuyers borrower will receive a ¼% interest rate discount from standard FFCU rate
  • Borrower is required to escrow for property taxes and insurance
  • Closing cost reduction of $500
  • Special Union Members Homebuyers Program is the First Federal FIRST 10 loan.  Borrowers have the same rate for the first TEN years of the loan
  • Borrower will be required to escrow for taxes and insurance
  • Other terms and conditions apply
  • Maximum loan amount of $300,000

 

Contact Dan Hillers

Get in touch with Dan Hillers today to learn more about this home loan program or start the application process.