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Call 1.800.854.7154 or contact your Merrill Lynch Financial Advisor
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MERRILL LYNCH HOME LOANS™ |
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With Merrill Lynch Corporate Home Financing Services (CHFS), we make it possible to offer your employees a valuable benefit at no cost to you or your employees. CHFS provides guidance and counsel to your employees throughout the home buying and selling process, as well as innovative home financing solutions that can complement your employees' overall financial lives. Programs are customized to meet your company’s specific needs, including:
- Corporate-sponsored relocations
- Valued-employee retention programs
- Programs to fit the needs of most employees
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Attract and Retain Highly-Qualified Employees
When you offer our CHFS services, you are telling employees that they are important, and that your company cares about their well-being and financial security. Merrill Lynch can help your employees make smart mortgage decisions based on their total financial situation. Mortgages are often one of the largest and most important components of our financial lives and can impact your employees’ overall financial goals. Choosing the right type of home financing can dramatically affect success in building net worth.
The Home Event Cycle
CHFS adds value for your employees throughout the home event cycle:
Step 1. Obtain Pre-Approval
Employees can obtain a complimentary conditional pre-approval letter for a mortgage before they begin shopping for a new home. This letter can serve as a powerful negotiating tool with prospective sellers. It also saves valuable house-hunting time by identifying the appropriate price range of homes that should be targeted. This letter is not a commitment to lend. Approved financing is available to qualified applicants.
Step 2. Shop For A New Home
Complimentary relocation services and cash-back bonus program through the Reality Advisory Services program.1
Employees can save time and money when buying or selling their homes through Realty Advisory Services, a complimentary program for Merrill Lynch clients offered through Cartus.
Realty Advisory Services provides:
- Benefits for employees not receiving a corporate-sponsored relocation
- Personal real estate consultants who provide guidance and advice to your employees throughout the home buying and/or selling process
- Access to local community, school and area information
- Cash-back bonus when a home is bought and/or sold through a referred agent (where state law permits)
Cash-Back Examples1
Buy or sell a home up to $500,000
$450,000 X .36% = $1,620 cash back
Buy or sell a home of $500,000 or more
$700,000 X .35% = $2,450 cash back
Step 3. Obtain Home Financing
Merrill Lynch offers competitively-priced home financing solutions designed to fit your employees’ individual needs with fast response and on-time closing guarantees.2 Working with a Merrill Lynch Financial Advisor can help employees make informed mortgage decisions that complement their overall financial objectives. Products and programs include:
Step 4. Review Your Financial Situation
Integrating smart home financing into overall financial strategies can be an important step toward managing and building wealth. Because your money works harder when it works together, your Merrill Lynch Financial Advisor looks at your employees’ financial lives in total and recommends customized solutions to help them reach their financial goals.
As a CHFS participating company, you will receive the following customized communications:
- Dedicated toll-free number for employees to call to apply for financing
- Customized CHFS program flyer for distribution to eligible employees
- Customized CHFS webpage featuring your company name and contact information, where employees can check their loan and account status information
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1Complimentary cash-back bonus program is offered through Cartus where permitted by state law. Not available in all states. In some states, a commission credit may be provided in lieu of a cash-back bonus, subject to availability. Ask your Real Estate Consultant for details. Clients are not required to obtain financing from Merrill Lynch Credit Corporation in order to receive Realty Advisory Services. The cash-back bonus is only available with the purchase or sale of your home through the Cartus program as described above. For homes of less than $500,000, the cash-back bonus is .36% of the home’s sale or purchase price. For homes of $500,000 or more, the cash-back bonus is .35% of the home’s sale or purchase price.
The Realty Advisory Services program is provided by Cartus, which is not affiliated with Bank of America Corporation, its subsidiaries and affiliates.
2 We will meet our agreed upon closing date when you purchase a home or we will credit $500 at closing for loans up to $1 million or we will credit $1,000 at closing for loans greater than $1 million (if no closing date is determined, then we will apply the appropriate credit if your loan does not close within 45 days). For refinance applications, we will apply the appropriate credit if your loan does not close within 60 days. All guarantees are subject to applicant’s ability to satisfy closing conditions either by the agreed upon closing date or within the applicable 45- or 60-day period. If the credit is not applied at closing, the client will receive a check after closing in the appropriate amount.
3 "Interest-only" mortgages allow you to pay only the interest on the money you borrow for a certain number of years. If you only pay the amount of interest that’s due, once the interest-only period ends, you will still owe the original amount you borrowed and your monthly payment will increase – even if interest rates stay the same – because you must pay back the principal as well as interest. You should ask what the payments on your loan will be after the end of the interest-only period. If you are considering an adjustable-rate mortgage, ask what your payments can be if interest rates increase.
4 Your employees should consult their tax advisor regarding the deductibility of mortgage interest.
5 Large loan amounts may be available on a case-by-case basis to qualified applicants.
Merrill Lynch Credit Corporation is an indirect wholly-owned subsidiary of Bank of America Corporation.
© Copyright 2010 Merrill Lynch Credit Corporation. All rights reserved.
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