Credit union home buying program successful
Maryland-based Educational Systems Federal Credit Union has grown its mortgage closures by 25 percent with its HomeAdvantage program that streamlines the home buying process, according to a press release.
Within seven months of rolling out the program, the credit union had 109 interested buyers referred to a HomeAdvantage agent, of which 12 purchased a home and nine financed the mortgage through the credit union.
“It’s about providing value-added real estate services to our members to customize their home buying experience and to go well beyond offering competitive rates and products,” Abe Palit, vice president of marketing, said in a news release. “Our goal is to help our members throughout the home buying process, the duration of which can vary from a couple months to a couple years, depending on the member’s time table.”
The HomeAdvantage program offers members one-stop home buying. Members can visit the website, https://www.esfcu.org/HomeAdvantage, to search for homes, set up property alerts, connect with qualified local real estate agents and earn cash rewards at closing, an average of $1,530 in savings per transaction.