Addition Financial launches A+ Mortgage Program for school district employees
LAKE MARY, FL (March 2, 2020) — Local school district employees can make their dreams of affordable home ownership a reality, thanks to the new A+ Mortgage Program launched by Addition Financial.
As a credit union founded by educators, Addition Financial has partnered with Orange County Public Schools, Seminole County Public Schools and the Osceola School District to provide this new benefit to school district employees. The A+ Mortgage Program offers a variety of features designed to help members purchase their perfect home, including:
- As little as 3% purchase price down
- Getting up to $5,000 toward closing costs as a lender credit equaling 1.5% of loan amount
- .25% rate discount when they set up direct deposit for automatic payments on their mortgage
“Our roots in education have shaped who we are for more than 80 years, so we are proud to offer a mortgage product that benefits our local school districts,” said Kevin Miller, President and CEO of Addition Financial. “It was important to us to lower the barrier of entry to purchasing a home and help make home ownership more affordable.”
In order to qualify for the A+ Mortgage, one of the borrowers must be a first-time home buyer (someone who has not owned a home in the past three years). At least one borrower must be an employee or immediate family member of a public, private, or virtual K-12 school, or a college or university. This program is available for primary residences only and does not apply to condos or manufactured homes.
“Addition Financial, long-standing supporters of Orange County Public Schools, has put together a home ownership mortgage program that will be of great interest to many OCPS employees. We are grateful for their focus on the well-being of our team,” said Dr. Barbara Jenkins, Superintendent of Orange County Public Schools.
We’re extremely excited to launch this unique home-buying program with our amazing community partners at Addition Financial to provide our SCPS employees an opportunity for affordable home ownership,” said Dr. Walt Griffin, superintendent of Seminole County Public Schools.
“This program, which provides the opportunity for affordable financing for homebuyers, is one of the many ways we are partnering with Addition Financial to offer support to our dedicated and hard-working educators and staff,” said Osceola School District Superintendent Dr. Debra Pace.
In addition, the credit union will draw from its roots in education to equip home buyers with the tools they need to make the best purchasing decisions. Addition Financial offers online resources, including calculators to help borrowers determine what they can afford, and blog articles to help navigate the full home buying process. Addition Financial is an equal housing lender. Members interested in the credit union’s real estate products can visit a branch, visit www.additionfi.com, or call toll-free at (800) 771-9411. In addition, the credit union will host a webinar and podcast this June that will focus on first-time home buying basics.
About Addition Financial
Addition Financial believes in the power of transforming lives by bringing financial success and education to everyone. With a robust suite of financial services designed to meet members’ needs, the credit union serves more than 170,000 members at 26 full-service branches and 10 high school branches and is a part of the Presto! ATM network. Headquartered in Lake Mary, Fla., Addition Financial is a not-for-profit financial cooperative with more than $2.8 billion in total assets. With a legacy of more than 85 years of serving educators and supporting education, Addition Financial is the Official Financial Institution of the UCF Knights and owns the naming rights to the Addition Financial Arena on the University of Central Florida campus. Addition Financial is also the Preferred Credit Union for Seminole State College and the Preferred Credit Union for Valencia College. For more information, visit AdditionFi.com.