Teachers Federal Credit Union (Teachers), one of the largest credit unions in the United States with $8.8 billion in assets and more than 375,000 members, is proud to announce three new mortgage loan products under its Smart Mortgage program that will allow more home buyers to qualify. Emphasizing the organization’s pledge to be Smart For All, Teachers is committing $100 million in new mortgage originations to help assist members achieve their financial goals. This latest Teachers initiative will help make the dream of homeownership more attainable for people across the nation.
“Teachers has been working diligently to develop mortgage offerings that meet the varying financial needs of all of its members,” said Craig Chapman, Senior Vice President of National Mortgage Sales at Teachers Federal Credit Union. “We are proud that our Smart Mortgage program will help more members achieve the major life milestone of purchasing a home.”
With availability in select states across the nation, the Smart Mortgage program provides additional opportunity to those who may not have qualified with a standard mortgage to become homeowners, no matter where they are in their financial journey. In support of the institution’s original membership, applicants employed in the education industry in any capacity are eligible to receive an 0.125% APR* off a mortgage product under this new program.
“Today’s fast-paced housing market coupled with rising demand across the country has made it more difficult to become a homeowner,” said Teachers Federal Credit Union President and CEO, Brad Calhoun. “With our new mortgage offerings, we want to work with real estate professionals nationwide to provide the opportunity of homeownership to even more of our members.”
Based on a combination of financial components including FICO scores, loan-to-value amounts (LTV), and funds available for down payments, members can choose a mortgage product from Teachers new Smart Mortgage program that best fits their current financial situation:
Teachers Smart Mortgage products are available to all new and current members. For more information on these products and other offerings from Teachers, please visit: https://www.teachersfcu.org/personal-banking/mortgage-center/smart-mortgage-program.