PremierOne Credit Union Introduces a New Loan Initiative
PremierOne Credit Union is thrilled to announce the unveiling of a groundbreaking lending program aimed at expanding homeownership opportunities for residents of manufactured home communities. This new offering allows the financing of HUD-approved manufactured homes that are classified as personal property, making it a significant step forward in promoting accessibility to housing.
Features of the New Program
This innovative initiative provides financing options specifically for HUD-labeled manufactured homes not attached to real estate. This makes it especially advantageous for prospective homeowners residing on leased land. The PremierOne program offers impressive loan amounts of up to $800,000 with fixed-rate terms that can extend up to 25 years, demonstrating the credit union's dedication to making homeownership more achievable and affordable.
Commitment to Community Needs
Chris Caputo, the Vice President of Lending Operations at PremierOne Credit Union, stated, "This program reflects our ongoing commitment to meet the evolving needs of our members. By offering financing for manufactured homes on leased land, we're opening doors for more families to achieve their dream of homeownership." This sentiment underscores the credit union's proactive response to the housing challenges many families face today.
Expected Outcomes
With the introduction of this program, PremierOne is anticipating a significant increase in loan applications as well as new membership growth. It’s important to note that all loans are subject to credit approval and eligibility requirements. Membership is necessary, and applicants must reside, work, worship, or study in designated areas to qualify for the program.
Enhancing Housing Opportunities
Andrea Brewer, the President and CEO of PremierOne Credit Union, expressed her enthusiasm for the new initiative, stating, "At PremierOne Credit Union, we believe everyone deserves access to safe, affordable housing. Our new Manufactured Home Loan Program is a powerful step toward expanding homeownership opportunities for families in our community. By offering flexible financing for homes on leased land, we’re helping members build stability and equity—on their terms." This initiative is not just a financial product; it’s a tangible way to support families in securing their own homes.
About PremierOne Credit Union
PremierOne Credit Union is dedicated to empowering its members to attain better financial lives through strong relationships, personalized service, and greater access to financial products. With more than $620 million in assets, PremierOne Credit Union serves individuals who live, work, attend school, or worship in neighboring communities. Members benefit from access to five branches located in the area and nearly 5,000 CO-OP branches and 30,000 ATMs nationwide.
Contact Information
For more information about the new Manufactured Home Loan Program, potential members can reach out to Janice Johnson-Lugo for assistance. She is available to provide insights and answer any questions about this innovative offering.
Frequently Asked Questions
What is the new loan program offered by PremierOne Credit Union?
The new loan program provides financing for HUD-approved manufactured homes classified as personal property, specifically aimed at owner-occupied homes on leased land.
Who is eligible for the Manufactured Home Loan Program?
Applicants must be members of PremierOne Credit Union and live, work, worship, or study in the eligible counties to qualify for the program.
What are the loan amounts offered under this program?
Loan amounts of up to $800,000 are available, with the possibility of fixed-rate terms extending up to 25 years.
How does this program benefit families?
This program aims to make homeownership more accessible for families residing in manufactured home communities and improve their financial stability.
How can I find more information about this loan program?
Individuals interested in more details can contact Janice Johnson-Lugo or visit the PremierOne Credit Union website for further information.
