Home ownership can get complicated. That’s why the AFSCME Advantage

Mortgage program, with financing provided by Wells Fargo Home

Mortgage, features a wide range of mortgage financing options for members and their families. The

AFSCME Advantage Mortgage program is just one more way your

union is working to help you every day.

Protect your mortgage when out of workIf you become unemployed, disabled, locked out, or are on strike, an interest-free assistance loan is available through our AFSCME Advantage Mortgage Assistance Program1. An added bonus: the first $1,000 of the assistance loan does not need to be repaid.

$500 award card for your new homeAFSCME members, their parents and children are eligible to receive a $500 Wells Fargo My Mortgage GiftSM award card2 after closing on their loan for use at participating retailers. Use this gift to buy something for your home!

$500 First-Time Home AwardFirst-time homebuyers who are AFSCME members may earn a $500 Union Plus First-Time Home Award.

Valuable programs and toolsPrepare for homeownership with educational programs, and online tools. Knowledgeable mortgage professionals are available to help you every step of the way.

Who’s Eligible?Dues-paying AFSCME members, their parents and their children. This program is not available to members living in Canada, Guam, Puerto Rico and the U.S. Virgin Islands.

Member Access1-800-848-6466

Monday-Friday: 7 a.m. to 9 p.m. CST

Saturday: 8 a.m. to 4:30 p.m. CST

Program Advantages★ Competitive rates

★ $500 Wells Fargo award card2 with a closed loan

★ Assistance for members who become unemployed or disabled, provided by Union Plus

★ $500 Union Plus First-time Home Award

★ Continuous loan servicing

★ U.S.-based customer service

1 Eligibility for the Mortgage Assistance Program begins one year after your financing through the AFSCME Advantage Mortgage program and these benefits are available on primary residences only. Mortgage Assistance is not available on bond loans and home equity financing.

2 Eligible individuals can receive the Wells Fargo My Mortgage GiftSM promotion approximately 6 weeks after closing on a new purchase or refinance loan secured by a first mortgage or deed of trust with Wells Fargo Home Mortgage (“New Loan”), subject to qualification, approval and closing, when identifying themselves as eligible. The My Mortgage GiftSM promotion is not available with any Wells Fargo Three-Step Refinance SYSTEM® program, The Relocation Mortgage Program® or to any Wells Fargo team member. Only one award permitted per new loan. This promotion cannot be combined with any other promotion, discount or rebate except yourFirst MortgageSM. This promotion is void where prohibited, transferable, and subject to change or cancellation with no prior notice. Awards may constitute taxable income. Federal, state and local taxes, and any use of the award not otherwise specified in the Terms and Conditions provided at receipt of award are the sole responsibility of the My Mortgage GiftSM recipient. Please see Terms and Conditions document for more information.

Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A. © 2016 Wells Fargo Bank, N.A. All rights reserved. NMLSR ID 399801

1-800-848-6466

Unique home buying and refinancing options help AFSCME members achieve their home ownership dreams.

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Mortgage

EQUAL HOUSING

LENDER

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What’s the first thing I should do to begin my search for my house?Whether you’re just in the planning stages or ready to apply for financing, call the program at 1-800-848-6466 and a mortgage consultant can help you understand what to expect.

How will it be determined if I qualify for a mortgage?Lenders look at your credit score, the cash you have available for a down payment and closing costs, your income, and your existing debt and financial obligations.Two ratio guidelines are used.

★ The housing expense-to-income ratio (or front-end ratio) compares your anticipated monthly mortgage payment to your total household gross monthly income (pre-taxed). In general, your monthly mortgage payment (including principal, interest, taxes and insurance), should not exceed 28 percent of your gross monthly income.

★ The debt-to-income ratio (or back-end ratio) compares your anticipated monthly mortgage payment to your gross (pre-taxed) monthly earnings and your monthly debt requirements, such as credit cards, car loans, student loans, consumer loans plus other financial obligations such as child support and alimony. In general, your total monthly debt should not exceed 36 percent of your gross income.

Call the program at 1-800-848-6466 for an evaluation of your individual situation.

How do I know how much money I can borrow to buy a home?A mortgage consultant can help you with a pre-approval that states the maximum loan amount you can borrow. Add your preapproved maximum loan amount to the amount you plan to use for your down payment, and you will know your home purchase price range.

How do I know what kind of mortgage to choose?There are many types of mortgages available, including options with a low or no down payment required. Your mortgage consultant can help you understand your options, so you can make informed decisions.

When might refinancing make sense?That often depends on how long you plan to stay in your home. Typically the fewer number of years, the larger the interest rate difference needs to be. A mortgage consultant can help you weigh the cost of refinancing against the projected monthly savings you may realize.

If I become unemployed, how does the program benefit me?If you or the cosigner on your mortgage are out of work because of involuntary unemployment or a disability, you can apply for an interest-free loan to cover your monthly payment. Up to $1,000 of the first payment assistance loan is a grant and does not have to be repaid. This grant is a one-time benefit for life. Loans are interest free, and cover up to six months of mortgage payments on your primary residence. Total payments may not exceed $16,000.

In addition, the program will cover mortgage payments for up to six months for union members who are on strike or lockout for more than 30 days.

Questions & Answers

1-800-848-6466

American Federation of State, County and Municipal Employees, AFL-CIO1625 L Street, NW, Washington, DC 20036TTY: 202-659-0446

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