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Article: Lower-Income Americans Can Buy First Homes Thanks to Ohio Credit Unions.
- Article from:
- PR Newswire
- Article date:
- September 25, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DUBLIN, Ohio, Sept. 25 /PRNewswire/ -- As home prices rise along with interest rates, the dream of homeownership becomes more and more distant for many Americans. But Ohio's credit unions are helping lower-income Americans buy their first homes and begin building personal wealth.
Twenty Ohio credit unions have joined the Credit Union National Association's Home Loan Payment Relief Program to make below-market-rate mortgage loans available to Americans with household incomes at or below the median in their market. Qualified borrowers receive a three-year adjustable rate mortgage at 1% below the national average. These lower rates result in reduced mortgage costs ...