LAKE MARY, Fla. – Addition Financial Credit Union has launched a new offering for local school district employees: the A+ Mortgage Program.
Addition Financial, which was founded with a field of membership to serve educators, said it has partnered with Orange County Public Schools, Seminole County Public Schools and the Osceola School District on the program.
Among the new mortgage’s features:
- As little as 3% purchase price down
- Getting up to $5,000 toward closing costs as a lender credit equaling 1.5% of loan amount
- .25% rate discount when they set up direct deposit for automatic payments on their mortgage
“Our roots in education have shaped who we are for more than 80 years, so we are proud to offer a mortgage product that benefits our local school districts,” said Kevin Miller, president and CEO of Addition Financial. “It was important to us to lower the barrier of entry to purchasing a home and help make home ownership more affordable.”
In order to qualify for the A+ Mortgage, the credit union said one of the borrowers must be a first-time home buyer (someone who has not owned a home in the past three years). At least one borrower must be an employee or immediate family member of a public, private, or virtual K-12 school, or a college or university. This program is available for primary residences only and does not apply to condos or manufactured homes.
Long-Standing Supporters
“Addition Financial, long-standing supporters of Orange County Public Schools, has put together a home ownership mortgage program that will be of great interest to many OCPS employees. We are grateful for their focus on the well-being of our team,” said Dr. Barbara Jenkins, Superintendent of Orange County Public Schools.
Addition Financial said it offers online resources, including calculators to help borrowers determine what they can afford, and blog articles to help navigate the full home buying process.