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White, who is a member of the American Federation of Government Employees (AFGE), acknowledges she also got lucky with her home loan through the Union Plus Mortgage Program a few years ago.

With financing available through Wells Fargo Home Mortgage, the Union Plus Mortgage Program helps union members, their parents, and their children purchase or refinance their homes while also offering exclusive union member benefits.

When White and her husband, Kaleb, were in the market for a new home, she remembered reading about the Union Plus Mortgage Program and decided to check it out.

"We had found a house we really wanted, and we started looking at our different options," White recalls. "I noticed that there was a Union Plus Mortgage Program connected with Wells Fargo. They helped us get all set up, it was great. It went really smoothly; it was very straightforward."

One benefit of the Union Plus Mortgage Program is the security the program offers. The Union Plus Mortgage Assistance Program provides interest-free loans and grants from Union Plus when members are out of work due to a union-approved strike, lockout, involuntary unemployment, or disability.¹

White said the sweepstakes money came at the right time. She and her husband are putting it toward school tuition for her younger son.

"It's a good blessing that wasn’t expected," she says.

Audrey First loves where she lives.

"It's a really nice, calm neighborhood, close to everything without being in the middle of the city," she says.

First and her husband Jesse, a member of the Ohio Civil Service Employees Association (OCSEA)/AFSCME Local 11 (American Federation of State, County, and Municipal Employees), bought a house in Mansfield, Ohio a few years ago. It's a great place to raise their young daughter, and it's not far from Jesse’s job is a correctional officer.

The Firsts were able to buy their house through the Union Plus Mortgage Program. With financing available through Wells Fargo Home Mortgage, the Union Plus Mortgage Program helps union members, their parents, and their children purchase or refinance their homes while also offering exclusive union member benefits.

First said the Wells Fargo loan officer made the whole mortgage process hassle-free.

"He led us through everything and made sure everybody was on the same page," she says. "That was really helpful."

The couple soon found out there are a number of benefits to the Union Plus Mortgage Program. They received a $500 gift card after closing which helped them to buy items they needed to settle in¹.

"We used it to buy the stuff you need to make a house look like a house," First says.

The Firsts also liked the security behind the Union Plus Mortgage Program. All Union Plus mortgages include access to the Union Plus Mortgage Assistance Program², which provides interest-free loans and grants to eligible union members to help them make their mortgage payments in the event they become disabled, unemployed, locked out, or go on strike.

The family relies on Jesse's salary to pay a lot of the bills. First says it's a relief to know they can receive assistance if something were to happen to his job.

"I tell all of the people Jesse's working with that mention buying a house that they should look into the Union Plus Mortgage Program," First says.

Use natural light when possible

• Avoid using a flash when photographing your pet. Bright flashes may frighten some animals and the flash could result in unsightly “red-eyes.”
• Use indirect natural light whenever possible. With four-legged subjects, it may not always be easy to position your subject, so you may have to move to get the best light.
• Aim for a mid-morning or late afternoon shoot when the light is naturally golden and filtered. If you are shooting indoors, try to avoid strong direct light, and make sure the lighting is even, unless you are trying for a dramatic shoot with specific lighting.

Make sure your pet is comfortable

• If you are going to dress your pet in an outfit, have your pet try it on before the actual photo shoot to make sure it fits properly and is comfortable.
• Give your curious cat or canine time to get used to their surroundings including the photography equipment and setting.
• Make sure your pet is not thirsty or hungry and has had a chance to exercise beforehand.
• Provide reassurance and praise, stay positive and have fun because your good attitude will set the best environment for your pet.

Be patient and take lots of photos

• Keep it fun and try different poses like getting on the floor to take photos eye-to-eye instead of always from above.
• Keep your pets undivided attention by holding a favorite toy or treat (like a piece of cheese, so you can literally tell your pet to “say cheese) just above the camera so your pet will be looking right at the lens.
• Try making an unusual noise to get your pet’s attention and make them look up because calling your pet’s name may be confusing and they’ll come to you instead.
• Take posed photos but don’t forget to let your pet act naturally and capture lots of candid shots that capture your pet’s personality.

Now may be a good time to rethink your mortgage and consider whether refinancing is right for you.

Refinancing may allow you to:

1. Lower your monthly mortgage payment
   You may be able to take advantage of the current rate environment and lower the interest rate on your mortgage. If you get a lower interest rate, your monthly payment may go down. You can also lower your monthly payment by refinancing to a longer-term loan. While both of these options will lower your monthly payment and free up some cash each month that can be used to meet other financial goals, you may pay more interest over the life of the loan.
2. Access funds for other important uses
   With a cash-out refinance, you may be able to tap into your home’s equity to help fund home improvement projects, pay off high-interest loans or credit cards, or cover other large expenses. If you have enough equity in your home, this could be an alternative to other financing options with higher interest rates.
3. Pay off your mortgage faster
   If you want to pay off your loan sooner, you can shorten your loan term. While it’s likely you’ll pay less interest over the life of your loan, your monthly payment may go up.
4. Get a predictable rate and payment
   Switch from an adjustable-rate to a fixed-rate mortgage and enjoy payments and rates that don’t change over time.

Be sure to talk to your lender about your specific situation and goals. Also, consider these tips:

1. Check your credit score before you apply
   Your credit history and credit score are key factors in determining your interest rate and the amount you may be able to borrow.
2. Understand the costs of refinancing
   You’ll have to pay closing, origination, and other loan fees.
3. Keep in mind that you’re starting over
   Refinancing replaces your existing loan with a new one. If your new loan has the same term as your original mortgage, you may end up paying more interest over the long run.

Your special benefit – a $300 My Mortgage Gift^SM award
Verified members of eligible labor unions and their qualifying family members who refinance a home with Wells Fargo and mention their eligibility will receive a $300 My Mortgage Gift award after closing.¹ (A $500 value when purchasing a new home.)

Personalized support
When you’re ready to take the next step, a Wells Fargo Home Mortgage consultant can answer your questions, discuss your situation, and explain the various mortgage options available. You’ll have the information and support you need to decide if refinancing is right for you.

Determine your "why"

Knowing what you’re seeking in your next home will help you focus your search and set your priorities:

• If your family is growing, you enjoy entertaining, or you want to accommodate special interests or hobbies, you may be looking for extra space.
• If your family includes active children and/or pets, a fenced-in backyard with room to roam may be top of your list.
• If you’re excited to spend more time in lively city neighborhoods or out on parks and trails, choosing the most accessible location to these activities should be a key consideration.

As you begin your search, take into account both your long- and short-term vision of your home. Which things are essential, and on which elements would you be willing to compromise?

Review your budget

In addition to the cost of the home itself, moving comes with several expenses. Setting a budget for the selling, buying, and moving process will help you plan ahead. Costs to consider include:

• Necessary home repairs
• Painting and/or upgrading floors/carpets
• Enhancing landscaping
• Professional staging, if used
• Storage costs
• Movers
• Short-term rental costs, if you sell your current home before you can move into your new one

Programs to meet unique needs

When you’re ready to finance your new home, a Wells Fargo home mortgage consultant will listen to your needs and goals to help you compare loan features – including interest rates, monthly payments and more – and connect you to the right loan options for your situation.

Decide if making a move is the right move

Because a move is a big step, it’s important to make sure you have your personal and financial goals in mind when making your final decision.

You may decide that moving now isn’t right for you and prefer to consider your options for refinancing your existing mortgage. Refinancing may allow you to pay off your mortgage faster, get a predictable rate and payment, or have extra funds available by lowering your monthly payment. (Keep in mind that by lowering your monthly payment, you may pay more interest over the life of your loan.)

Support to get you home

Regardless of whether you decide to purchase a new home or refinance your existing mortgage, taking advantage of today’s low rates could put you in a good place. And you’ll have the personalized guidance of a Wells Fargo home mortgage consultant every step of the way.

Caitlyn Selby and her husband picked up and left the East Coast nine years ago and headed to Hawaii on a whim, where they both got jobs at resorts on Maui. After renting for several years, the couple decided to buy a place. Selby, a member of the International Longshore and Warehouse Union (ILWU) said she looked into the Union Plus Mortgage Program after hearing about it from some of her coworkers.

"They said it was a great program, a great option and how amazing and simple it was for them while applying for a mortgage," Selby remembered.

With financing available through Wells Fargo Home Mortgage, the Union Plus Mortgage Program helps union members and their parents and children purchase or refinance their homes while also offering exclusive union member benefits.

Selby said that though it was stressful to purchase a home, the Wells Fargo loan officer helped them throughout the lending process.

"It's our first home, it’s a lot of money, and it’s a big decision," Selby recalled thinking. "We had so many questions. They were extremely knowledgeable, and they never made us think that the questions we asked were unnecessary."

The couple also liked the security behind the Union Plus Mortgage Program, which includes hardship assistance. The Union Plus Mortgage Assistance Program provides interest-free loans and grants to eligible union members to help them make their mortgage payments in the event they become disabled, unemployed, locked out, or go on strike¹.

"It's a safety net if anything were to happen with your job, they really have your back," Selby said.

Both Selby and her husband are temporarily unemployed due to the impact COVID-19 is having on the tourism industry in Hawaii.

"We never thought we’d be here," Selby said. "It's nice to know in these scenarios you’re not alone – that the union wants to support."

To learn more about the Union Plus Mortgage Program, visit unionplus.org/mortgage.

How does a down payment work?

A down payment is an upfront payment toward the total cost of a home you plan to buy. You typically pay a percentage of the home’s cost, with the mortgage you get making up the difference. For example, if you put down 20% on a $400,000 home ($80,000), you would get a mortgage to finance the remaining $320,000.

If you’ve stashed away some cash for your down payment, great. But make sure you set a realistic budget when considering how much to put down.

Why your down payment amount matters

• It's one of the factors in lending decisions. Your lender will consider your down payment along with your credit score, credit history, total debt, and annual income to see if you qualify for a loan.
• The size of your down payment can affect your mortgage options. What you put down on your home can affect what financing options and interest rates you’re offered.
• The more you put down, the less you may pay in interest. Because you’re borrowing less money, a larger down payment may reduce the interest you pay over the life of your loan and lower your total mortgage costs. Plus, your monthly payment may be lower.

Mortgage options for low down payments

You don’t have to put down 20% to get a mortgage. The following are common types of loans that offer low down payment options.

• Conventional loans: First-time homebuyers might qualify for a down payment of just 3% of the purchase price.
• VA loans: If you qualify for this loan, which is backed by the Department of Veterans Affairs, you won’t be required to make a down payment at all.
• USDA loans: If you qualify for a loan backed by the U.S. Department of Agriculture, your down payment could be 0%.
• FHA loans: First-time homebuyers might qualify for a down payment as low as 3.5% of the purchase price.

But, if you do choose make a lower down payment, you may have to pay mortgage insurance. This insurance provides protection for the lender in the event you are unable to make mortgage payments. Mortgage insurance increases the cost of the loan and will increase your monthly payments.

It's also a good idea to keep a little cash handy. After you pay all closing costs, most lenders want you to have enough money left in savings to cover your mortgage payments for a few months. You might also want to have some cash set aside for any unexpected expenses that might come up after you move into your new home.

There are many types of mortgages with different down payment requirements available. The down payment that’s right for you is the one that fits your budget and loan selection. Your Wells Fargo Home Mortgage consultant can help you understand your options so you can make informed decisions.

Janet Washington is a woman of many talents.

When she's not working as a secretary for the Kern High School District or raising her 11-year-old daughter, she's running her small business – custom-making jewelry and designing and refurbishing clothes and accessories.

But Washington, a member of the California School Employees Association (CSEA) Local 81, has bigger dreams for her future. She wants to expand her company, or work for a design firm, or maybe be a marketing director someday.

"I just know I can do anything – the only thing holding me back is not having [my college] degree," Washington says. Washington's outlook began to change last April, when she found out Union Plus was offering a free benefit for union members to earn their bachelor’s degree online.

"For years I struggled trying to find a way to complete my bachelor's," Washington recalls. "This was the breakthrough I needed."

Through an academic partnership with Central State University, a historically black university, the Union Plus Bachelor’s Degree Completion Program offers union members and their families education scholarships that cover all tuition, fees, and e-books. To be eligible, students must have already earned an associate degree or have 60 or more transferrable credits, with a 2.2 GPA or higher.

"CSU is flexible and fast paced," Washington says. "I'm able to complete my degree program from the comfort of my home, while educating my daughter. The classes are easy to follow, and there is plenty of time to complete assignments."

Washington expects to graduate in May with a business management degree. Meanwhile, she does her schoolwork before her day job or after her daughter goes to bed.

"She sees me late at night, early in the morning. I'm a motivation and I like that," Washington says. "She looks up to me and I want her to see you can do anything, no matter what."

To learn more about the Bachelor’s Degree Completion Program, visit bachelorsdegree.unionplus.org.

A mortgage prequalification or preapproval can help you search for homes at prices where you are more likely to qualify for the home loan needed to complete the home purchase. Securing either also helps demonstrate to sellers that you have or are likely to get the financing you need in order to meet their asking price, which can be especially helpful in a competitive market, when multiple potential buyers may be trying to purchase the same home.

There are also some key differences. Let's look more closely at both.

Prequalification

A mortgage prequalification uses your basic financial information to provide an opinion of how much you may be able to borrow. There is no fee, no obligation, and no credit check involved.

It's helpful when: you're thinking about buying a home, but haven’t started looking at properties and aren’t ready to complete a mortgage application.

How to get one: Provide Wells Fargo Home Mortgage with basic information over the phone, in person or online. We’ll provide you with a home financing price range opinion on the spot.

Preapproval

A preapproval is more detailed and provides an estimate of your home price range based on an initial review of your application and limited credit information. With a preapproval, there may be a fee for the cost of the credit check.

It's helpful when: You’re actively looking at properties, want to focus your search, and are ready to fill out an application. Because it’s based on more detailed information and an actual credit check, a preapproval is often considered stronger than a prequalification. It will give you a more accurate idea of your potential loan amount, monthly payment, and interest rate, and it shows sellers you’re a serious buyer.

How to get one: Fill out a mortgage application. We’ll review the application and credit information and conduct an automated underwriting review. If you're approved, we can usually provide a home financing price range estimate or the loan amount you may qualify for right away.

Getting prequalified or preapproved can help you estimate your price range, however, it’s important to remember that neither one is a commitment to lend. A home mortgage consultant can help you decide which is better for your situation.

Wells Fargo is also here to help with a wide range of home financing options, online tools, including a simplified online mortgage application, and personalized start-to-finish support – so you can shop for a home with confidence.

Johnny Montez takes great pride in his work as a Laborers' International Union of North America (LIUNA) member.

"It's just cool to be driving on a freeway with my wife and daughter and say, hey, I built this," says Montez. "I come home after a day of work and I am tired, but those moments make it all worth it."

Two years ago, the Montez family bought a new home. Johnny's wife had discovered Union Plus early on in his union experience, so the decision to work with the Union Plus Mortgage Program was easy. Montez says the transaction itself was smooth too.

"When we made the move to buy, I had friends tell us, 'It will take months,' Montez recalls. "Not with the Union Plus Mortgage Program.""

Union members who purchase or refinance a home through the Union Plus Mortgage Program get competitive rates, hardship assistance in case of disability, layout, lockout or strike¹. As a verified union member when you finance your home with Wells Fargo Home Mortgage and you mention your eligibility My Mortgage Gift^SM award after closing - $500 for buying a home, $300 for refinancing – for use at participating retailers².

Recently, the Montezes won a sweepstakes for Union Plus mortgage holders. With their winnings, they intend to add a lush, green back yard.

"We've redone so much in this house and worked hard for it," Montez says. "This will give us the last piece of our dream and we’ll have a new yard for our kids to play in."

He continues, "The union has made being a homeowner possible and Union Plus is just another way I feel taken care of. I really recommend Union Plus to any union member trying to find ways to save money."

To learn more about the Union Plus Mortgage Program and other Union Plus benefits, visit unionplus.org.