Union Home Mortgage Crosses $1 Million Milestone for Down Payment Assistance Program

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Jun 27, 2024, 10:00 ET

STRONGSVILLE, Ohio, June 27, 2024 /PRNewswire/ -- Union Home Mortgage (UHM), a high-growth independent mortgage banking company with a world-class culture, announced today it has provided more than $1 million of support to low-to-moderate income first-time homebuyers through its 1% Down Payment Assistance Program. Since December of 2023, the program has helped more than 400 families achieve the dream of homeownership with an average grant size of approximately $2,700.

"The 1% Down Payment Assistance Program has been hugely impactful for people across the country," said CEO Bill Cosgrove. "Homeownership is a foundational piece of the American dream and we're committed to helping folks from all walks of life achieve it. This program has been so important for low and moderate income families, putting them in a position to build wealth and gain stability by owning a home. We will continue to place an emphasis on advancing homeownership through innovative programs like this and our commitment to communities through the Union Home Mortgage Foundation."

Through UHM's 1% Down Payment Assistance Program, homebuyers can put as little as 1% down towards the purchase of a home and Union Home Mortgage will provide an additional 2% towards their down payment. The program is available to homebuyers eligible for the Fannie Mae Home Ready and Freddie Mac HomePossible Programs, which are both designed to provide increased flexibility and options to low-income borrowers.

Union Home Mortgage lends nationwide with a portfolio of products spanning Fannie Mae, Freddie Mac, FHA, VA, USDA and other conforming and non-QM loan products. The company has been recognized as a nationwide top workplace by Energage and one of the top places to work in Northeast Ohio by Cleveland.com and the Plain Dealer.

For more information, go to uhm.com.

Union Home Mortgage will contribute up to 2% down (no greater than $2500) towards a 3% down payment. Home buyer is responsible for the remainder of the down payment. This offer is available for the purchase of a primary residence only. For full terms and conditions visit uhm.com.

About Union Home Mortgage

Union Home Mortgage Corp. (UHM) is a high-growth, full-service retail, wholesale, and consumer direct independent mortgage banking company with branches across the U.S in 48 states + D.C. With a world-class culture that stands out in the mortgage industry, UHM Partners (employees) are guided by a Code of Conduct that emphasizes respect, open communication, and accountability.

SOURCE Union Home Mortgage