Looking for help with your account? Choose from the category and topics below to find answers to your questions.

Home Mortgages

Economic Opportunity Mortgage® (EOM)

What is the Economic Opportunity Mortgage (EOM)?

Designed for low- to moderate-income households, or homeowners purchasing or refinancing a property in a qualifying census area, an EOM is a home loan program that helps make home ownership more affordable. With reduced interest rates and no points required, an EOM offers lower monthly payments than traditional loan programs for eligible properties and borrowers, including single-family residences, condominiums, or two- to four-unit properties.

Who is eligible for this program?

You may be eligible for the EOM program if you meet one of the following requirements:

1. Your annual household income falls below these HUD Median Income levels for the county where the property is located:

  •  Less than or equal to 120% of the HUD Median Income for all California counties and certain High Cost counties in Oregon and Washington; or
  •  Less than or equal to 80% of the HUD Median Income for the non-High Cost counties in Oregon and Washington.


2. If the property is located in a designated low-income census area, there is no income limit requirement

See other items for some sample maximum mortgage eligibility income limits by county.

Is the EOM available for both owner-occupied purchase and refinance transactions?

Yes, the EOM is available for both owner-occupied purchase and owner-occupied refinance transactions.

Is private mortgage insurance required?

Private mortgage insurance is not required with an EOM, even if the loan-to-value ratio is greater than 80 percent.

Do I have to pay points to get the loan?

There are no points required with an EOM.

Is there an origination fee?

There is no origination fee for EOM loans. However a non-refundable $550 application fee is required.

Can I have my mortgage payment automatically deducted from my account?

Yes, we can set up monthly automatic payments from your Union Bank checking or savings account. When you do, you will receive a $75.00 credit toward your closing costs.

Do I have a choice of loan options?

Yes. With an EOM, you can lock in a fixed rate for a term of 15, 20, 25, or 30 years.

What is the maximum amount I can borrow?

In most counties, the following are the maximum EOM loan amounts:

  • 1-unit properties - $500,000 purchases/$484,350 refinances
  • 2-unit properties - $620,200
  • 3-unit properties - $749,650
  • 4-unit properties - $931,600

Enhanced loan amounts available in certain counties on single family residences, PUDs, condominiums, and two-unit properties (additional requirements apply). Some examples include:


  • $726,525 - Alameda, Contra Costa, Los Angeles, Marin, Napa, Orange, San Benito, San Francisco, San Mateo, Santa Clara, and Santa Cruz
  • $713,000 - Ventura
  • $704,950 - Sonoma
  • $690,000 - San Diego
  • $667,000 - San Luis Obispo
  • $652,050 - Monterey
  • $625,500 - Santa Barbara
  • $552,000 - El Dorado, Placer, Sacramento, Yolo
  • $529,000 - Mono
  • $500,000 Purchase / $494,500 Refinance - Solano
  • $500,000 Purchase / $486,450 Refinance - Nevada


  • $726,525 - King, Pierce and Snohomish


What are some sample maximum income limits by county?

Here is a sampling of counties and their corresponding maximum income limits for home loan eligibility. Although we cannot list all the applicable census areas here, we can look up an area for you. Simply give us a call at 1-866-UB-LOANS and provide the address of the property you wish to purchase or refinance.

County - Maximum Income Limit

  • Alameda, CA - $125,280
  • Contra Costa, CA - $125,280
  • Fresno, CA - $66,600
  • King, WA - $124,080
  • Marin, CA - $161,760
  • Orange, CA - $111,240
  • San Diego, CA - $98,160
  • San Francisco, CA - $139,680
  • San Mateo, CA - $139.680
  • Santa Clara, CA - $148,080
  • Snohomish, WA - $124,080

What if my income is too high?

If your property falls within a designated census area, you may still qualify for the EOM program even if your income is higher than the maximum limit. Call us at 1-866-UB-LOANS and we’ll be glad to check the property census area for you.

How can I learn more?

Call us at 1-866-UB-LOANS Monday through Friday, from 8:00 a.m. to 6:00 p.m. Pacific Time, and Saturdays from 9:00 a.m. to 1:00 p.m.