We work hard to keep our costs down and pass the savings on to you. That’s how we’re able to offer great loans—and great rates—that our competitors can’t match.
We offer same-day pre-approvals you can rely on. Find out your personalized rates in no time with our 5-Minute Loan Approval* application.
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What is the First Responder Loan Program?
We believe first responders deserve to have the other things in their lives —like buying or refinancing a home—be simple and straightforward. The Experts can help with that. We are here not only to make the process a fast and easy one, but also to provide our borrowers with exceptionally favorable lending options.
First Responder Loan Programs
To show our appreciation, we offer any first responder* who purchases or refinances a home with The Home Loan Expert an appraisal and a loan check-up on us. We also want to help you understand the other assistance options available to you and are ready to offer you all the information you need to make a well-informed decision about what is often one of the most important life steps.
There are several government programs and loans for first responders that can help ease the financial burden of buying a house. They provide incentives like lower rates, rebates, down payment assistance, and even credit on closing. Our lending experts stay up to date on all the available options for you, whether you’re buying or refinancing a home, to ensure that we can offer you the best solution for your individual needs. That’s part of our way of saying thank you for everything you do.
Good Neighbor Next Door program
The US Department of Housing and Urban Development (HUD) offers an incentive called the Good Neighbor Next Door Sales Program, which provides a 50% discount on the list price of a home in revitalization areas. This incentive is available to law enforcement officers, firefighters, and emergency medical technicians who meet certain requirements. To qualify, the recipient must be employed full-time as a firefighter, EMT, or police officer and serve in the same locality as the house they are looking to purchase.
Depending on where you live and work, there may be local assistance programs available.
Other than job-related requirements, you must also meet other requirements relating to income and location. The requirements vary from one location to the next, and applicants have more income and purchase price flexibility in “targeted areas,” which are designated as areas of economic distress. Because different localities have different requirements, The Home Loan Expert is here to help you understand your personalized options.
Conventional Assistance Programs
There are also conventional assistance programs that are available to anyone who meets certain requirements, regardless of their profession. Our Experts can review your information and let you know which assistance programs you qualify for, so you can get the best possible deal on your home loans.
The Federal Housing Administration (FHA) loan program offers insurance on your mortgage. This allows you to benefit from lower closing costs and lower down payments, and it decreases credit requirements that prohibit many first-time prospective homebuyers from getting a loan. The conventional minimum FICO® credit score to secure a home loan is 620. Lower credit scores typically mean less favorable rates, but programs like the FHA loan program can give greater flexibility to people with low credit scores.
The US Department of Agriculture offers special loans to rural homebuyers who meet certain income requirements. You can use the Single Family Housing Income Eligibility index on the USDA website to select your state and county and learn more about your eligibility for this program based on your specific location.
Down payment assistance loans
Down payment assistance (DPA) loans and grants reduce the amount of money home buyers need to save for a down payment. These programs vary by state, county, and city.
What Is the Process of Participating in a First Responder Home Loan Program?
As a direct mortgage lender, The Home Loan Expert can help you understand which first responder loan programs and other assistance programs will be applicable to your unique situation. We handle the entire process so that there are no middlemen, and our streamlined approach is designed to be hassle-free for you! We know that first responders are often overworked and stressed from doing a demanding job, so we want to make the process as easy as possible for those who give so much to our communities.
Once you’ve applied for loan approval with The Home Loan Expert, you’ll then be connected with one of our loan officers, who will take the lead on the process and paperwork. From there, you can close on the loan in as little as 14 days. That’s because our Experts are trained in how to provide a streamlined process for homebuyers and homeowners looking to refinance.
How Can The Home Loan Expert Help with Mortgages for First Responders?
First responders do so much for our communities, and we want to give back by offering resources and excellent customer service during the home purchase process, as well as pay for your appraisal and loan check-up. Our application is easy and quick, and we do the hard part for you so that the whole process, from application to close, is as painless and positive as possible.
At The Home Loan Expert, our name says it all—we’re experts at handling even the toughest loan situations. We are experienced and knowledgeable about mortgage loan programs that can make buying or refinancing easier for you, and we’re passionate about helping homebuyers. We provide several loan options and competitive mortgage interest rates, as well as personalized service that will make the whole process feel like a breeze.
If you’re ready to take advantage of our first responder loan program, begin our 5-Minute Loan Approval app today.
Learn About Other Loan Types
Adjustable Rate Mortgage
When you’re shopping for a new home, one of your most important decisions will be what kind of mortgage to take out to finance your home. Your mortgage type will be the top factor that influences how much you can borrow(and thus what kind and size of home you purchase), as well as your monthly budget moving forward. For a variety of reasons, an adjustable-rate mortgage (ARM) can be an appealing choice in the short term, but it can seem scary as well. However, it’s important to understand how ARMs work, since this type of loan has repayment terms that may become less desirable over time.
The home buying process can be overwhelming and stressful, especially if you’re buying your first home (or if your financial circumstances make it more difficult to get an affordable loan). For many home buyers, getting a loan insured by the Federal Housing Administration (FHA) can be extremely helpful in not only securing the necessary financing to buy but also achieving the dream of owning a home (even while facing tough financial situations). FHA loans allow lenders to make home buyers better deals, resulting in lower down payments, lower closing costs, and easier credit qualifying. Here, we’ll go over the ins and outs of FHA loans, including what they are, who qualifies, and what the process of securing one looks like.
Fixed-rate mortgages—also called “conventional mortgages”—are basically the bread and butter of the mortgage industry. And that’s because this loan type is still the most reliable way to finance your home, offering affordability, flexibility, and so much more. As their name suggests, fixed rate loans have the same rate throughout the entire term of the loan. So even if interest rates rise while you’re paying off your loan, your rate and payment amount are locked in for the entire loan term. That’s why fixed-rate mortgages are so popular–they offer protections that ARMs can’t.