ORIGIN
December 20, 2022

Home Loans for First Responders

As a first responder, you need to be ready for every emergency call. It’s up to you to stand up and protect your community and be the first to respond in difficult situations. While you provide your services on a daily basis and serve all those around you, it’s time for you get help when you need it the most. 

At Southern Home Loans, our home loans for first responders aim to provide lower interest rates, where you could also qualify for certain grants and rebates. Read on below to find out how you can get the best home loans for first responders. 

Homes for Heroes

Homes for Heroes has operated since 2009 and has provided more than $110 million in savings for 58,000 heroes through their real estate transactions. Moreover, they have sold more than $15 billion in real estate and homes to heroes and have formed partnerships with over 4,400 mortgage and real estate professionals who are just as dedicated to the cause. 

Through the Homes for Heroes Foundation, we have donated more than $1.2 million to first responders in need. We’re also the leading network of mortgage, real estate, and local business specialists nationwide. We are committed to helping heroes find quick and easy ways to save on their homes. 

Homes for Heroes Inc. was established after 9/11 to find ways to give back to our dedicated EMS, firefighters, military (active, veterans, and reserves), law enforcement, teachers, and healthcare professionals for everything they do. If you’re a hero in need of help, be sure to visit their website to see if you qualify

Hometown Heroes

The Hometown Heroes program aims to provide affordable housing for all eligible workers in the “frontline,” which includes the following: 

  • Military personnel 
  • Educators 
  • Healthcare providers 
  • Police officers 
  • Nurses
  • Firefighters  
  • Childcare 
  • And more 

We aim to provide assistance for heroes in need of down payment and closing payments to all homebuyers that are qualified. Here are the occupations that are eligible for the program: 

  • Certified correction officers (not including clerical, secretarial, or trained personnel)
  • Sworn law enforcement officers 
  • Firefighters (individuals who hold a valid and current Firefighter Certificate of Compliance or a Special Certificate of Compliance issued by the division)
  • Correctional probation officer 
  • Certified emergency medical technician (EMT)
  • Certified paramedic 
  • 911 public safety telecommunicator 
  • Certified educators 
  • Classroom teachers
  • School psychologists 
  • Certified educators 
  • Career specialists 
  • Social workers 
  • Librarians 

Moreover, the Florida Hometown Heroes Loan Program can also provide lower first mortgage rates as well as additional benefits. These services are dedicated to heroes that currently help their communities as well as those who are serving and have served the country. 

FHA Loans

While FHA loans are available to everyone, our services are focused on first responders and heroes, giving them the unparalleled support they need. Through the Federal Housing Administration, a home loan can be issued for FHA-approved mortgage lenders. This provides first responders access to home loans that are much more accessible and affordable. 

At Southern Home Loans, it’s our goal to make the FHA Loan application process as smooth as possible. Through our years of experience, we’ve come up with solutions that take the hard work out of applying and qualifying for a great FHA Loan. Below are just a few reasons why many families opt for an FHA Loan. 

  • Depending on your credit score, an FHA Loan can help to make your down payments significantly lower.
  • You may qualify for a low 3.5% down payment if you have a credit score of 580 or more. 
  • Those who have a score between 500 to 579 may qualify for a down payment of 10%. 
  • FHA Loans are easier to qualify for, especially for those who aren’t qualified for private mortgage insurance and can’t afford to make a 20% down payment. 

Conventional Loans

Conventional loans are mortgage loans that aren’t backed by any government agency. Even if government-backed loans can provide special benefits for homebuyers, conventional loans are still the most common kind of mortgage loan. 

It’s such a popular option that conventional loans made up 78.5% of all new homes sold in the first quarter of 2022, according to the National Association of Home Builders. If you’re in the market for your new home, here are just a few things you will need to know about conventional loans to decide whether or not it’s the best choice for you. 

30-Year Fixed Mortgages

If you are looking for consistent interest rates where you can make the same payments each month, then you might be interested in a 30-year fixed mortgage loan from Southern Home Loans. This can be a highly advantageous choice if you plan to live in your home for a minimum of seven years. 

However, if you’re looking to move in a few years, you may be better off getting a stable-rate loan, which may be a cheaper option. At Southern Home Loans, we know that you already have a lot on your plate — we’re here to help make the process as smooth and seamless as possible. 

15-Year Fixed Mortgages 

This option offers excellent rates without the hassle, where we can help set you up with a 15-year fixed mortgage loan. Compared to the 30-year option, our 15-year loan comes with lower interest rates, but will also need higher monthly payments. If you’re unsure why a 15-year fixed mortgage is the best choice for you, here are a few things to consider: 

  • A 30-year mortgage will let you make smaller payments each month, but you will end up with a bigger interest rate over a longer time period.
  • If you’re able to pay the payments needed every month, the 15-year mortgage option is the superior choice. 

Adjustable-rate Mortgages

These types of mortgages will provide a lower interest rate initially compared to a fixed-rate mortgage. An adjustable-rate mortgage is a great option for people who only intend to live in their home for just a few years. It can help you save money on early payments as well as money in the long term. 

Furthermore, this is a great option if you expect that your income will increase in the next few years. If you think that the interest rate on a Fixed Rate Mortgage is too high, an Adjustable Rate Mortgage is for you. 

The Difference Between a Fixed-rate Mortgage and an Adjustable-rate Mortgage

Put simply, the interest rates on fixed-rate mortgages will never change, but the rates that come with adjustable-rate mortgages will change over time. Moreover, a fixed-rate mortgage will have an initial interest rate that’s higher compared to what you will get in an adjustable-rate mortgage. 

How Southern Home Loans Can Help 

Founded in 2006, Southern Home Loans is a division of Goldwater Bank, with the goal of providing every customer with the lowest rates possible. We work hard to develop the best home loans in the market, while our stellar services exist to give each one a personalized experience. It’s our job to give you the best options to cater to your specific abilities and needs and ensure that you’ll always be happy with the home loan given to you. 

Unfortunately, the home loan process can be a long and time-consuming activity that comes with a lot of headaches and hassles. This is where we come in. Because we’re a direct lender, we have developed a system that takes all the work away from our customers. 

First Responders Are Our Priority

Our customers are our #1 priority, and we aim to provide only the best services. Our team knows exactly how hard the home loan process can be, and finding the best option for you can be overwhelming. As such, we’ve created methods that will point you to an option that will suit you perfectly. 

To help ease the pressures of such a huge decision for our customers, we’ve established our mobile and online services that are both ready to use while providing plenty of options. This means that our customers will be able to make an educated decision for such a large purchase. 

Whether you’re looking to refinance an existing property, want to buy the home of your dreams, or apply for a reverse mortgage to help you with expenses, we can help. At Southern Home Loan, you’ll work with a team of experts to provide the loan you’re after. 

Conclusion 

We understand that your job and daily duties can be overwhelming, exhausting, and stressful — to say the least. This is why we exist. Southern Home Loan is here to help you find a home you’ll love and live in for the years to come. 

Our team works closely with you to provide you with all the information and advice you need. You deserve to have a home that you can call a sanctuary, and we’re here to ensure that it’s within your reach!

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