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We offer same-day pre-approvals you can rely on. Apply now to find out your personalized rates in no time.
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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.
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 application today.