Merrill Lynch Corporate Home Financing ServicesSM (CHFS), an employee benefit program, provides guidance and counsel throughout the home buying and selling process, as well as innovative home financing solutions that can complement your employees' overall financial lives – all at no cost to your organization.
Programs can be customized to meet your company’s specific needs, including:
- Corporate-sponsored relocations.
- Valued-employee retention programs.
- Programs for all employees.
When Should You Choose Corporate Home Financing Services?
When your company is looking for an innovative program to help attract and retain highly-qualified employees. Although mortgages are often one of the largest and most important components of our financial lives, most people fail to consider the impact of home financing on overall financial goals. Choosing the right type of home financing can dramatically affect success in building net worth. Merrill Lynch can help your employees make smart mortgage decisions based on their total financial situation.
The Home Event Cycle
CHFS adds value for your employees throughout the home event cycle:
Obtain Preapproval Through The Qualified BuyerSM Program
Your employees can receive a complimentary mortgage preapproval letter before they begin shopping for a new home through Merrill Lynch’s Qualified BuyerSM program. Approved financing can give employees an advantage over other potential homebuyers and can serve as a powerful negotiating tool with prospective sellers. In addition, it can save valuable house hunting time by identifying the appropriate price range of homes that should be targeted.
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
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. Mortgage products include:
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 Adviser looks at your employees’ financial lives in total and recommends customized solutions to help them reach their financial goals.
Customized Communications
As a CHFS participating company, you will receive the following customized communications:
- Dedicated toll-free number for employees to call to apply for financing.
- E-mail series announcing the new CHFS program for company-wide distribution.
- Customized CHFS program flyer for distribution to eligible employees.
- Customized CHFS Web page
- Features your company name and contact information
- Allows employees to check loan and account status information online.
You can learn more about other Merrill Lynch services at http://www.totalmerrill.ml.com.
1The Realty Advisory Services program is offered through Cartus. Your employees are not required to obtain mortgage financing from Merrill Lynch Credit Corporation in order to receive Realty Advisory Services. Complimentary 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. Clients should ask their Real Estate Consultant for details. The cash-back bonus is only available with the purchase or sale of the home through the Cartus program as described above. For homes $500,000 or more, the cash-back bonus is .35% of the home’s sale or purchase price.
2When considering adjustable-rate products, please note that if interest rates increase, your monthly mortgage payments may also increase. When deciding whether an adjustable-rate mortgage is right for your situation, you should consider the potential risk of rising rates and such factors as how long you plan to own your home.
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.
4Your employees should consult their tax advisor regarding the deductibility of mortgage interest.
5Large loan amounts are available to qualified clients with excellent credit histories on a negotiated basis.