Union Member Homebuyers Program
About Our Program
We would like to help local union employees finance the purchase of their next house while simplifying the home buying process. A special pool of funds has been established to help Cedar Rapids area union members finance their next house. Loan terms are designed to recognize the benefits of belonging to a union including job tenure, down payment requirements and even closing costs.
Any union member that lives or works in Linn County is eligible to apply for financing through the Union Member Homebuyers Program.
Cedar Rapids and the surrounding areas are a great place to live and work and First Federal Credit Union would like to help union members achieve financial success.
- 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
319.362.3171 or 319.560.4233