Union Plus and UA Dad Help Daughter Buy Her First Home
Did you know that the Union Plus Mortgage Assistance program has provided over $11 million to union members in financial need? Click here to learn more!
Being part of a union family has benefitted Megan McClain of Cedar Lake, IN, throughout her life. Her father's union wages and benefits meant security and opportunity during her childhood. Today, she's still benefitting from her father's UA membership thanks to the Union Plus Mortgage Program, which helped her buy her first new home.
"As a young kid I had no idea what a union was," Megan McClain says. "But my father would go to UA meetings, and my mother would always tell me how important our union health care was. It made me feel secure, knowing I'd be OK."
Her father, Daniel McClain, joined United Association of Plumbers and Pipefitters (UA) Local 597 when he was 19 years old and recently retired after 41 years.
Megan wanted the feeling of security that comes from owning her own home. "But as a first-time home buyer," she says, "I was nervous for obvious reasons. Will I get approved? Will I be able to get a loan to fit my needs? Will I be able to afford the closing costs?"
First-time home buyers may be unaware that closing costs can add thousands of dollars to the cost of purchasing a home. "I'd heard nothing but haunted stories about closing costs. To my surprise, another perk from Union Plus came my way - they were able to lower my closing costs significantly. Saving big on closing costs is like winning the lottery!"
Union Plus Mortgages Offer a Safety Net
The Union Plus Mortgage Program, which can help union members, their parents and children save $495 or more in closing costs, is a smart choice in tough times. And the tougher the times get, the better it can be to have a union mortgage!
That's because only the Union Plus Mortgage Program comes with assistance benefits. The Mortgage Assistance Program, a union-only program, can cover your Union Plus Mortgage payment if you're out of work due to unemployment, disability, or strike. The program provides interest-free loans to union members, as well as their parents and children, who have had a Union Plus Mortgage for 12 months or more. The first $1,000 of the loan is a grant that never needs to be repaid.
"We went through a strike in my second year as a teacher," McClain, a unionized teacher says. "So I know how valuable that peace of mind can be."
Beyond the savings and peace of mind, there is one more reason to choose a union mortgage. First-time home buyers who choose the Union Plus Mortgage Program may apply for the First-Time Homebuyer Award: a $500 check to help cover costs associated with your new home. Since the program's inception, more than $300,000 have been awarded: the perfect welcome to a new home.
These days McClain just loves being a homeowner. "It is fabulous to wake up, look around, and actually see all your hard work and long-time savings," she says. "I get such a feeling of fulfillment and accomplishment to see how far I have come. The day I was given my keys was the day I finally felt my dream come true. Thanks to Union Plus, a childhood dream became a reality."
From her secure union childhood to the security of homeownership with a union mortgage, unions have helped Megan McClain achieve the American dream. And her father couldn't be more proud. "I'm thankful she could benefit again from my years of union membership," Daniel McClain says.