HAUPPAUGE, N.Y.–Teachers FCU has launched three new mortgage loan products under its Smart Mortgage program that it said it will allow more home buyers to qualify.
“Emphasizing the organization’s pledge to be Smart For All, Teachers is committing $100 million in new mortgage originations to help assist members achieve their financial goals,” the credit union said in announcing the new offerings. “This latest Teachers initiative will help make the dream of homeownership more attainable for people across the nation.”
According to the $8.8-billion Teachers FCU, the program, which is available in select states across the nation, provides additional opportunity to those who may not have qualified with a standard mortgage to become homeowners, no matter where they are in their financial journey.
In support of the TFCU’s original membership, applicants employed in the education industry in any capacity are eligible to receive an 0.125% APR off a mortgage product under this new program, the credit union added.
“Teachers has been working diligently to develop mortgage offerings that meet the varying financial needs of all of its members,” said Craig Chapman, SVP-national mortgage sales. “We are proud that our Smart Mortgage program will help more members achieve the major life milestone of purchasing a home.”
Opportunity to Expand Ownership
Added President and CEO Brad Calhoun, “Today’s fast-paced housing market coupled with rising demand across the country has made it more difficult to become a homeowner. “With our new mortgage offerings, we want to work with real estate professionals nationwide to provide the opportunity of homeownership to even more of our members.”