AFFORDABLE LOANS
Union Bank offers a unique affordable loan
program that may be right for you – the Economic Opportunity Mortgage – EOM.


The EOM loan is for applicants whose income does not exceed 80% of the HUD median income in their area. See below for some examples of the maximum income by location. If the property is located in a designated low income census tract, there is no income limit requirement. (Although we cannot list all of the applicable census tracts, call us and we can look up the property census tract for you. Just provide the address of the property you wish to purchase or refinance.)

– The EOM loan is available for both owner occupied purchase and owner occupied refinance transactions.

– Mortgage insurance is not required when the loan to value ratio is 90% or less.

– There are no points for your low interest rate loan.

– These fees are waived – a $795 value!

– Have your mortgage payment automatically deducted from your Union Bank checking or savings account and you will receive $75.00 credit towards your closing costs.

– Typically the interest rates on our EOM loans are significantly lower than our standard rates!

– The EOM loan includes both fixed rate and long term adjustable rate programs.

- $500,000 is the maximum loan amount available for a single family residence.
We hope so. Just call us.     



Listed below are a few California counties and their corresponding maximum income limits:
County Maximum Income Limit
Alameda $108,360
Contra Costa $108,360
Los Angeles $75,600
Marin $119,280
Orange $104,640
San Diego $90,600
San Francisco $119,280
San Mateo $119,280
Santa Clara $124,200

Remember, even if your income is higher than above, if your property falls within a designated census tract, you may still qualify for an EOM loan. Call us and we will check the property census tract for you.


What To Expect

Loans subject to credit and collateral approval. Financing available for collateral located in CA, OR, or WA. Restrictions may apply. Terms and conditions subject to change.


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Equal Housing Lender.