Press Release (ePRNews.com) - SCOTTSDALE, Ariz. - Jun 13, 2018 - HomeAdvantage®, the turnkey real estate program from CU Realty Services (CURS), continues its record-breaking expansion into California, where home prices are more than double those of the rest of the nation. Steep housing costs mean homeownership is out of reach for many. However, 21 credit unions are stepping in to ease the burden by implementing HomeAdvantage. More than 2 million CU members in the Golden State now have access to the program, which can offset some of the hard costs associated with residential real estate transactions.
San Diego-based Mission Federal Credit Union is the most recent CU to partner with CURS, the largest real estate CUSO in the U.S. With 30 branches serving almost 219,000 members, Mission Fed implemented HomeAdvantage to accomplish two main goals:
• Make home ownership more affordable for members
• Help members get into new homes faster
The HomeAdvantage program does both for home-buying credit union members. First, it provides them with online access to valuable real estate tools and connects them to qualified and vetted real estate agents. Secondly, members who buy or sell a home using an agent in the program qualify to earn HomeAdvantage Cash Rewards at closing. This cash-back benefit is equal to 20 percent of the agent’s commission. In California, Cash Rewards deliver an average of $3,400 at closing. Members can use this money toward closing costs or take it as cash back after closing. Reducing or eliminating out-of-pocket expenses means members don’t need to save as much, and they can move into their dream home sooner.
California credit unions see significant wins, too. The HomeAdvantage program delivers a lead generation and nurturing system that helps CUs engage with more home-buying members and close more loans. The program helps CUs strategically identify members considering a purchase transaction and stay engaged with them throughout their entire home-buying journey. CUs that use HomeAdvantage often report pull-through rates of 80 percent or higher.
About CU Realty Services, LLC
CU Realty Services provides real estate services to credit unions across the nation, helping them increase their purchase mortgage business. Launched in 2001, the CUSO has worked with more than 100 credit unions and mortgage CUSOs nationwide to offer its turnkey real estate program, HomeAdvantage®. Through the program, credit union members can search for homes, research neighborhoods, calculate costs of homeownership, connect to experienced real estate agents, and earn HomeAdvantage Cash Rewards. By offering this program to members, credit unions are able to attract, identify and engage more home buyers, and consequently close more loans. To learn more, visit www.curealty.com.
About Mission Federal Credit Union Source :
Mission Federal Credit Union, the largest, locally based financial institution exclusively serving San Diego County. All San Diegans are welcome! We specialize in credit union loans to San Diegans, including: auto loans, home loans and credit cards. Mission Fed provides checking accounts, savings accounts, online banking, and mobile banking with mobile deposits. Services are available through 30 local branches all over San Diego county, 30,000 fee-free CO-OP ATMs nationwide, including many in 7-Eleven stores, mobile banking and online banking. https://www.missionfed.com/
CU Realty Services