“My father was a seaman, and while he never encouraged me to follow in his footsteps, it became something I always wanted to do or at least try,” said Plathan. “So, I applied to the SIU and went through their apprenticeship program that lasted for 18 months. For the last five years, I’ve mainly worked in the Gulf of Mexico on tankers carrying crude oil, gasoline and sulpher, traveling from Florida to Louisiana and Texas.”
As his life as a sailor progressed, Peter realized that renting an apartment was similar to throwing money away. Gone for weeks (and sometimes months) at a time, he was rarely home long enough to make a lease work. Yet coming home without a lease meant having to find a place to live after each voyage.
“I wanted to start a new chapter in my life and didn’t want to rent anymore. So, I found a house near Florida’s Gulf Coast in North Port,” said Plathan. “It’s a three-bedroom, two-bathroom townhome in a community with a clubhouse and pool. I’m really excited about it.”
Plathan’s road to the American dream began easily enough. He applied for a loan and was immediately pre-approved, enabling him to move on the house. However, as his paperwork moved through the underwriting process, Plathan faced a challenge that so many other union members confront: the nature of his work – a constant cycle of hiring and layoff tied to specific voyage-based assignments – disqualified him from ultimate approval for a conventional loan.
“I saw the Union Plus Mortgage Company (UPMC) ad online and got lucky,” said Plathan. “I called them immediately and was approved within two weeks.”
“The thing of it is, UPMC understood my situation and my job. It was no problem.” said Plathan. “That made the process really smooth. I would definitely recommend anyone trying to buy a home to call them.”
Plathan was able to close on his house right before setting sail on another adventure. He looks forward to moving in and getting settled.
“For me, it’s a major investment and the start of a new phase.” said Plathan. “Through the process of purchasing it, Union Plus really showed me that they have the backs of union members. I’m so grateful.”
The Union Plus Mortgage program, with financing available through Union Plus Mortgage Company, is available for all eligible union members. UPMC is union-owned and staffed by unionized loan officers.
For qualifying members, special benefits include:
- A $500 gift card after closing for purchasing or refinancing a home
- A $750 gift card for First-Time Home Buyers'
- Special hardship mortgage assistance from Union Plus in the event of income loss due to disability, unemployment or strike/lockout.
For more information, visit unionplusmortgage.com or call 855 UNION 53 (855-864-6653).
*The AFL-CIO and Union Privilege own Union Plus Mortgage Company and will benefit if you get your loan through the company. However, you are not required to use Union Plus Mortgage for your loan and are free to shop. For your Affiliated Business Arrangement Disclosure Statement, please visit www.unionplusmortgage.com.
Union Plus Mortgage Company has a services agreement with Union Privilege in which Union Privilege receives a financial benefit for providing agreed upon services.
Only members of participating unions affiliated with the AFL-CIO that receive a mortgage from the Union Plus Mortgage Company are eligible for the First-Time Homebuyer Award and the Mortgage Assistance Program.
Peter Plathan loves being at sea. He loves the travel, meeting new people and being taken out of his comfort zone. As an Able Seaman for the Seafarers International Union (SIU), Ft. Lauderdale, FL, Plathan does just about everything – from serving as a mechanic, handling the ship’s lines to docking, undocking, and even steering the ship.