Labor Leader Turns to Union Plus Mortgage Company
AFL-CIO Executive Vice President Tefere Gebre used the Union Plus Mortgage Company to refinance a high interest mortgage on his new home. The Union Plus Mortgage Program, with financing available through Union Plus Mortgage Company, is available for all eligible union members.
In 2010, local union organizer Tefere Gebre and his wife Jennifer joined the millions of working families underwater as their San Diego home lost most of its value during the national mortgage crisis.
A few years after short selling their home and moving into a rental, Gebre and his wife relocated to the east coast when he earned a national leadership role as the AFL-CIO’s Executive Vice President.
They were able to buy a new home in Silver Spring, Maryland, but were saddled with a high interest rate mortgage.
“As soon as I joined the Union Plus board, we saw the opportunity to build a great mortgage program for union members and their families,” Gebre recalls.
The Union Plus Mortgage Company (UPMC), founded in 2016 by the AFL-CIO, is designed so that the labor movement gains as UPMC grows and prospers. Union members and their families are eligible to apply for financing through UPMC, which is union-owned and staffed by unionized loan officers.
“Refinancing with UPMC was so simple and hassle-free,” Gebre shares. “Our refinanced mortgage saves us more than $600 per month.”
The Union Plus Mortgage Program, with financing available through Union Plus Mortgage Company, is available for all eligible union members.
Qualifying members are eligible for special benefits for first-time homebuyers as well as:
- A $500 gift card after closing for purchasing or refinancing a home
- Special hardship mortgage assistance from Union Plus in the event of income loss due to disability, unemployment or strike/lockout
- Veterans of the Armed Services are eligible to apply for a one-time $1000 Union Plus Veterans Grant
For more information, visit unionplusmortgage.com or call 855 UNION 53 (855-864-6653).
The AFL-CIO, Union Privilege and a group of unions own Union Plus Mortgage Company and will benefit if you get your loan through the company. However, you are not required to use Union Plus Mortgage for your loan and are free to shop. For your Affiliated Business Arrangement Disclosure Statement, please visit www.unionplusmortgage.com.
Union Plus Mortgage Company has a services agreement with Union Privilege in which Union Privilege receives a financial benefit for providing agreed upon services.