Los Angeles Police FCU Talks About HomeAdvantage™
LAPFCU joined the CU Realty family in 2013. Watch what HomeAdvantage — CU Realty's turn-key real estate services program — is doing for their members.
The post-refi boom mortgage landscape
The past few years have seen mortgage rates continue to creep up, bringing an end to the refinance boom and leading credit unions and other financial institutions to focus on purchase money. As a result, credit unions like Los Angeles Police FCU have turned to CU Realty Services' turn-key real estate services program—HomeAdvantage
—to establish First Point of Contact
with members and capture a larger share of their purchase mortgage business.
"What I like about this program is that it's turn-key. We were looking for a partner that could provide all the tools and resources we needed, from start to finish," says LAPFCU's VP of Marketing, Manny Padilla. "That's when we turned to CU Realty Services."
Like many credit unions, LAPFCU is dedicated to helping members make the best possible financial decisions. It's this member advocacy that sets the credit union industry apart from other financial institutions and a big reason why LAPFCU's partnership with CU Realty is a natural fit.
"HomeAdvantage brings us the opportunity to reach out to our members," says Carol Martin, LAPFCU's COO. "We're able to provide members access to the most current property listings as well as help members find a real estate agent that will work closely with them. HomeAdvantage has really enhanced our mortgage program. And the impact is helping to ensure a long term relationship with our members."
Real value, real savings
In addition, HomeAdvantage offers LAPFCU members real savings with a rebate at closing. "Our first-time home buyers love the program," says Cynthia Maciel, a loan processor at LAPFCU. "Many of our members are coming in with five or ten percent down. Getting an extra couple thousand dollars at closing is a great, great benefit. Thanks to HomeAdvantage, we have more to offer our members. And our members have more incentive to come back to the credit union for their mortgage."
"HomeAdvantage puts us in a position of being able to offer value," adds Padilla. "As a result, we've become the first step in our members' home buying process."
Find out more
about how HomeAdvantage works or download
one of our white papers!