Home Loans For Heroes Police and First Responders
In this blog, we will cover and discuss home loans for heroes police, and first responders. Home Loans For Heroes Veterans and First Responders home purchase program is now available throughout the United States. Home loans for heroes are discounted mortgage programs for our everyday heroes who are out there such as police officers, firefighters, EMTs, doctors, nurses, military, and others.
The Team at Gustan Cho Associates appreciates our front-line workers who many take for granted. These heroes are often not recognized by Americans. Many of us often take our first responders and members of our military for granted.
The sacrifices they make by working during hurricanes, tornadoes, major floods, fires, and other national emergencies are priceless. This article will get updated as time passes with the new home loans for heroes as they come out throughout the United States
Home Loans For Heroes Police and First Responders By State
Gustan Cho Associates is listing not-for-profit organizations by the state that help first responders and veterans of our U.S. Military with the costs when buying a home. The following organization’s mission is to help our first responders and military homebuyers with down payment assistance and/or closing costs when buying their homes.
Texas
Texas Home Loans For Heroes
Homes For Texas Heroes – Financial Assistance for Homebuyers In Texas:
The Texas State Affordable Housing Corporation is an agency to help our everyday heroes achieve the dream of homeownership becoming a reality. Home Loans For Heroes in Texas Program is a not-for-profit agency. It provides down payment assistance to our heroes such as teachers, police and correctional officers, firefighters and EMS personnel, and veterans on their home purchases.
The program provides a down payment, low interest 30-year fixed-rate mortgage at favorable terms. The program requires eligible candidates to partner up with eligible mortgage lenders of their choice. The down payment assistance is anywhere between 3 to 5 percent of the total loan amount.
The down payment assistance allows homebuyers to use it towards their down payment and/or closing costs on their home purchase. The DPA from Home Loans For Heroes is a gift from the organization. It does not have to be repaid back. There are no requirements such as the homebuyer needing to live in the property for a certain period of time.
Where Are Home Loans For Heroes Available
There are Home Loans For Heroes available throughout the United States. The Home Loans for Heroes in Texas program is available for eligible homebuyers in Texas. The loan program is available to eligible heroes through qualified lenders who are members of the Home Loans for Heroes network system.
You do not have to be a first-time homebuyer to qualify for this program. Homebuyers who are purchasing their first homes can apply for a Mortgage Credit Certificate (MCC). Texas homebuyers who use the down payment and MCC assistance together will receive their MCC for free, saving $500.
Definition of Heroes and Eligible Professions
Eligible Professions
- Allied Health Faculty Member
- Corrections Officer
- County Jailers
- Emergency Medical Services Personnel
- Fire Fighters
- Juvenile Corrections Officers
- Military Veteran
- Nursing Faculty Member
- Peace Officer
- Professional Educator
- Public Security Officer
Purpose For The Home Loans For Heroes
The main purpose of the home purchase assistance hero program is to assist first responders, active and retired members of the United States Military, and other heroes with the down payment, closing costs, prepaid costs, and other costs when buying their homes. Upfront costs in obtaining a mortgage such as the home appraisal and home inspection costs are part of the hero program aid program. Many heroes are able to afford the monthly mortgage payments and housing expenses but are often short of the down payment and closing costs in order to purchase a home
Due to the lack of down payment and closing costs, many heroes are stuck as renters and cannot afford a home purchase. Seller-funded down payment programs were eliminated in the Housing and Economic Recovery Act of 2008, but States and Local government agencies are still permitted to help borrowers finance their homes with second mortgages and grants. These agencies set different requirements that a borrower needs to meet in order to qualify for the grant programs, such as property location, purchase price, and income limits.
Down Payment Grants in Texas
5-Star Texas Advantage Program: The Southeast Texas Housing Finance Corporation (SETH) offers eligible Texas residents the 5-Star Texas Advantage Program. This down payment assistance home purchase program helps heroes in Texas become homeowners by assisting them with down payment and closing costs.
The DPA program is a grant and does not need to be paid back. It is a very popular home purchase DPA program where eligible homebuyers can easily qualify. Contact us at Gustan Cho Associates for more information.
Hill Country Home Loans For Heroes Down Payment Assistance
Travis County heroes can qualify for the Hill Country Home Down Payment Assistance Home Loans for Heroes Program. Eligible homebuyers can purchase any home of their choice in Travis Country. This includes homes in the City of Austin. The purpose of this DPA home purchase program is to help our heroes with the cost of buying a home such as the down payment and closing costs. Eligible homebuyers can get a home purchase grant of up to 5% of the purchase price in the form of a grant and not a loan and/or second mortgage. The grant does not have to be repaid.
Home Loans For Heroes Home Star Program
The Home Star Program is one of the most popular hero programs in Texas. Dale Elenteny of Gustan Cho Associates said the following about the Home Star Program:
Homeownership Across Texas
The home loans for heroes program that is picking up steam in Texas is the Homeownership Across Texas grant program. The Homeownership Across Texas DPA home purchase program provides grants up to 5% percent of the home purchase amount on government loans.
Government loans are FHA, VA, and USDA loans. On conventional loans, the Homeownership Across Texas DPA program provides up to a 3% percent grant. The grant does not have to be paid. There is no seasoning requirement on the longevity the homeowner needs to live on the home purchase. Homebuyers do not have to be first-time homebuyers.
Texas Home Loans For Heroes Programs
The Texas Home Loans For Heroes Programs provide heroes in the following professions a 3 to 5 percent grant of the home purchase price to be used for the down payment and closing costs of the home purchase. The homebuyer can choose their preferred lender. However, the lender needs to be part of the Texas Hero Programs lending network. The following heroes in the following professions are eligible:
- Teachers
- Police and correctional officers
- Firefighters and EMS personnel
- Veterans
- Federal agents
- Judges
- Prosecutors
- Medical and healthcare workers
My First Texas Home
Here is another popular DPA home purchase program:
California
VHDC – Veterans Housing Development Corporation
The Veterans Housing Development Corporation is also referred to as VHDC. Here is what VHDC does to assist heroes in California:
We also have several other sites identified where we hope to provide even more affordable housing in the near future. http://housingvets.org/
Home Loans For Heroes BHH
Here are the benefits of the BHH program:
This program is also available in Alabama, Arizona, Arkansas, Connecticut, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Maryland, Mississippi, Missouri, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South, Carolina, Tennessee, Texas, Virginia, Washington, Wisconsin
Hero Programs For Homeless Veterans Emergency Housing Facility
This is what the Homeless Veterans Emergency Housing Facility (HVEHF) offers:
We are raising funds that will go towards purchasing the property we occupy in San Jose.
Massachusetts
VTH – Veterans Transition House
Here is a statement by the Veterans Transition House (VTH):
North Carolina
Home Loans For Heroes Purple Heart Home
Service Connected Disabled Veterans and aging veterans of the U.S. military can get housing assistance from the Purple Heart Homes.
Home Loans For Heroes Police and First Responders
The Team at Gustan Cho Associates are experts in helping our active and/or retired members of the U.S. Armed Services and hometown heroes qualify for Home Mortgages for Heroes. This holds true, especially for Heroes with prior bad credit and low credit scores. We can help Heroes qualify for FHA and VA loans with credit scores down to 500 FICO.
Home Loans For Heroes With Lenient Guidelines
Heroes and first responder homebuyers who are told by other lenders they do not qualify for a mortgage due to having outstanding collections and charged-off accounts can qualify at Gustan Cho Associates Heroes can qualify for a mortgage one day out of bankruptcy and/or foreclosure with no waiting period requirements.
Self-employed Heroes can qualify for a mortgage with our 12-month bank statement loan program with no income tax returns required. Gustan Cho Associatesc. is known to be a one-stop shop for mortgages for Heroes and First Responders.
Types of Home Loans For Heroes
Gustan Cho Associates has multiple loan programs such as government and conventional loans, bank statement loans, non-QM loans, investment property loans, and alternative financing loan programs. Gustan Cho Associates offers government, conventional, and non-QM loans.
Gustan Cho Associates has various loan programs that our heroes and first responders can benefit from. Gustan Cho Associates is a national mortgage company licensed in multiple states with no lender overlays. Over 75% of our borrowers are folks who either got a last-minute mortgage loan denial or could not qualify at other lenders.
Our Appreciation To Police Officers and First Responders
Our team at Gustan Cho Associates likes to show our gratitude to our veterans, police officers, firefighters, paramedics, and public service workers by giving them the very best service. Through our Mortgage For Heroes fresh start program, we can help all borrowers maximize their credit scores by offering one on one coaching on rebuilding your credit and maximizing your credit scores so you can get the lowest mortgage rate. One of our experienced loan officers will be assigned to the borrower and will go over the best loan program for the individual borrower.
The Team at Gustan Cho Associates Sponsors Home Loans For Heroes Discounts For First Responders
Our support and licensed personnel are available 7 days a week, on evenings, weekends, and holidays. We will go over the down payment assistance mortgage programs and/or grants the homebuyer may be eligible to qualify for. Our team at Gustan Cho Associates is passionate about giving back to our heroes and first responders to those who serve us and keep us safe. In this article, we will detail who qualifies for our Mortgages For Heroes And First Responders Home Purchase Program. We will cover how the Mortgages For Heroes And First Responders Home Purchase Program works, and the steps to start the process.
What Are Home Loans For Heroes Discounts For First Responders
What Is The Mortgages For Heroes And First Responders Home Purchase Program? The Mortgages For Heroes And First Responders Home Loans for Heroes Program is designed to provide an easy way for Heroes to save significant money when buying, selling, or refinancing a home through our one-on-one consulting services.
An experienced licensed loan officer will work one on one with our borrowers in helping them maximize their credit scores so they can get the best rate and term on a home mortgage. We have many tools to analyze the borrower’s potential credit score increase such as the FICO Simulator.
Mortgage Broker Licensed in 48 States in Support Home Loans For Heroes Discounts
Gustan Cho Associates is a mortgage broker licensed in multiple states with over 160 wholesale mortgage lenders. Our loan officers have a network of five-star real estate agents, attorneys, title agents, insurance professionals, and other real estate industry professionals we can refer homebuyers and homeowners. The Team at Gustan Cho Associates can also link our pre-approved homebuyers up with a real estate agent. The team at Gustan Cho Associates will work closely with our HERO homebuyer and can even tailor a custom and/or a special program to assist the new homebuyer.
Who Are Our Heroes?
Who is considered a HERO? Under our Home Loans for Heroes Police and First Responders Home Purchase Program, our HERO program is designed to help those who help American citizens live their everyday life, a few examples are:
- Firefighters and EMS
- Law enforcement (city, county, state, and federal law enforcement officers including border patrol federal agents and ICE federal agents)
- Military (active duty, reserves, and retired veterans)
- Healthcare professionals such as doctors, dentists, veterinarians, nurses, and pharmacists
How Do Our Heroes Save Money on Home Purchases
How does the hero save money? When a hero works with home loans for heroes police and first responders affiliate program with real estate agents, real estate attorneys, title companies, and even home inspectors they often get VIP service.
Our heroes who need to have fast closing will get rush appraisals that are paid for by us, the lender. On every file, we will try to increase the borrower’s credit scores to get them the best mortgage rates and terms. We can assist with a lender credit to cover closing costs in lieu of a slightly higher rate.
Our Statement to Our Every Day Silent Heroes
We thank our heroes for their trust and faith in us:
We promise they will have a rewarding experience with us and our network of professionals.
VA Mortgages For Heroes At Gustan Cho Associates
Gustan Cho Associates has a national five-star reputation for not having any lender overlays on VA loans. Most lenders have lender overlays on VA loans. They normally require a 620 or higher credit score. Many people do not realize there are no minimum credit score requirements on VA loans per VA Agency Guidelines.
Gustan Cho Associates only goes off VA Agency Guidelines and has no lender overlays on VA loans. We have approved countless borrowers with credit scores in the 500s to get approved and close on their VA loans. We have no minimum credit score requirements on VA loans as long as the borrower can get an approve/eligible per the automated underwriting system (AUS).
VA Funding Fee on VA Loans
The VA Funding Fee can be rolled into the loan balance. Lenders offer 100% financing with no down payment required on VA loans due to the government guarantee. There is no mortgage insurance required. Lenders will allow up to a 4% sellers concession by the home sellers for the home buyers closing costs. There is no maximum loan limit on VA loans.
How To Participate In Our Home Loans For Heroes
Heroes and first responders who need a national mortgage company licensed in multiple states with no lender overlays, please contact us at Gustan Cho Associates at 800-900-8569 or text us for faster response. Or email us at gcho@gustancho.com for state-specific questions. Gustan Cho Associates is a five-star national mortgage company licensed in multiple states with no overlays on government and conventional loans. We are also experts on non-QM loans and alternative financing loan programs. We are available 7 days a week, evenings, weekends, and holidays.
