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Equal Opportunity Loans

Economic Opportunity Mortgage® (EOM)###DISCLAIMER:2_0 Low Down Payment Loans###

The EOM program is designed for low- to moderate-income households who are interested in purchasing a home or refinancing their existing mortgage. It is also available for borrowers looking to purchase or refinance a property in a qualifying census tract. EOM helps make home ownership more affordable. With competitive interest rates and no private mortgage insurance (PMI) required, the EOM Program is a perfect home loan program that provides lower monthly payments versus traditional loan programs.

Eligible properties must be owner-occupied and include:

  • Single-family residences
  • Condominiums
  • Two- to four-unit properties

Lower Up-front Costs and Financing Options

With an EOM loan, you can:
  • Purchase a home with a low down payment: 97% financing options are available, depending on property type###DISCLAIMER:2_0 Low Down Payment Loans###
  • Refinance and get up to 97% financing with no cash-out or up to 80% with cash out, depending on property type###DISCLAIMER:2_0 Low Down Payment Loans###
  • No PMI required
  • Save with lower fees versus traditional loan programs

Limited Credit History Considered

If you have a limited credit history, our EOM program allows for alternative non-traditional credit items, such as utility and rent payments, to be considered when making a decision on your loan.


Are You Eligible?

You may be eligible for the EOM program if you meet one of these two requirements:
  1. Your property is located within a designated census tract; or
  2. Your annual household income falls below the Area Median Income levels for the county where the property is located.
To learn more about our EOM home loan program and other mortgage options for first-time home buyers, or if you are purchasing or refinancing a property in a qualifying census tract, please visit your local Union Bank Mortgage Consultant or call Mortgage Direct at 1-866-UB-LOANS today.

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