Aug. 9, 2007 - BOA and Chase offer special mortgages

Extra Security for Community Heroes and Union Workers

Bank of America (BOA) announced a mortgage program exclusively for police officers, firefighters, teachers and medical workers with an insurance feature that will repay all or a portion of their outstanding mortgage balance, up to $300,000, in the event of accidental death, permanent paralysis or dismemberment.

This mortgage program offers the availability of 100 percent financing, competitive loan rates, little or no down payment options and flexibility on credit scores and credit histories.

Applicants who meet the occupational eligibility requirements can obtain home financing under the Neighborhood Champions Protected Mortgage Program.  The program applies to:

• Full-time educators or employees at the elementary, secondary or college/university education level, including administrators, librarians, counselors, administrative support and custodial staff. Part-time teachers are also eligible.
• Full-time sworn members or employees of a police department, sheriff's office, corrections department or other law enforcement agency.
• Full-time sworn members or employees of a local, state or federal fire department or agency, including emergency medical response and patient care.
• Full-time medical professionals including but not limited to nurses, nursing assistants, medical technicians, dental assistants, pharmacy assistants or employees of hospitals, nursing facilities or doctors' offices.
• Retirees from eligible occupations are also eligible.

Eligible homebuyers can receive guidance for this exclusive program by contacting a local BOA mortgage loan officer by calling 1.800.344.9403 or visit one of the nearby branches.  Also, find more information at: www.BankofAmerica.com 

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Chase Home Finance is offering a special mortgage program through Union Plus for Union members that could save on fees and offers free strike, disability and unemployment benefits. 

The program benefits are:

• Easy application process for Chase mortgages right over the phone, in-person or online
• Unemployment/disability and strike benefits to help you make mortgage payments when you're out of work
• Mortgage loans to purchase or refinance your home
• Mortgage programs for borrowers with "less than perfect" credit
• Down payments as low as 5% - and even lower for qualified buyers
• $350 toward closing costs of mortgages (for buyers who use both the real estate and mortgage portions of the program
• Parents and children of union members are also eligible for Union Plus mortgages