Alert To All Hometown Heros

Hometown Heroes Housing Program

We're helping healthcare professionals, first responders, educators, military personnel, and essential service workers achieve homeownership with incredible benefits.

Is This Program Right for You?

This program is exclusively for first-time homebuyers working in essential professions who want to purchase a primary residence.

Healthcare Professionals

Doctors, Nurses, Therapists, Medical Technicians, and more

First
Responders

Firefighters, Police Officers, EMTs, 911 Operators

Education Professionals

Teachers, School Counselors, Librarians, Educators

Military
Personnel

Active Duty, Veterans,
Military Families

Program Highlights - What Makes This Special

Exclusive benefits carefully designed for essential professionals to enhance impact, growth, and well-being

100% Financing

Purchase with no down payment required. Program covers purchase price and closing costs.

Up to $25,000 Assistance

5% maximum down payment with up to $25,000 assistance available for down payment or closing costs.

0% Non-Amortizing 2nd Mortgage

30-year term with no monthly payments. Does not affect debt-to-income ratio. Becomes due upon refinancing or sale.

Flexible Property Types

Single-family homes, 1-4 unit properties, condos, and manufactured homes eligible.

Multiple Loan Options

FHA, Conventional, USDA, and VA loans available. Choose what works best for you.

No Prepayment Penalties

Pay off early without penalties. Loan becomes due upon refinancing, sale, or moving out.

How the Program Works

Understanding the two-mortgage structure. The Hometown Heroes Program uses a two-mortgage structure to provide maximum benefit:

First Mortgage

Traditional mortgage to finance the property purchase

Second Mortgage (Non-Amortizing)

Subordinate 30-year mortgage with $0 monthly payments

Example: Purchase a $250,000 home. First mortgage finances $200,000 (80%). Second mortgage covers $50,000 down payment assistance (20%) with $0 monthly payment. You qualify based on the first mortgage only, with no DTI impact from the assistance.

Do You Qualify?

Check the basic requirements

Must Meet ALL of These:

First-time homebuyer (within last 3 years)
Licensed professional in approved occupation
Purchasing primary residence (owner-occupied)
Property meets program guidelines
Meet standard mortgage qualification criteria

Mortgage Qualification: The 3 C's

INCOME

Verifiable income required to support loan payments

CREDIT

Credit strength demonstrates payment reliability

CASH

Down payment and closing cost documentation

Getting Started - Step by Step

From consultation to homeownership in 30-45 days

Initial Consultation (30 minutes)

Discuss your home purchase goals, review program benefits and requirements, confirm your profession qualifies.

Pre-Qualification (24 hours)

Quick financial review, estimate down payment assistance, see what price range you can afford. No credit pull required.

Pre-Approval (3-5 business days)

Get credit reviewed, verify income/assets, calculate debt-to-income, receive your pre-approval letter with approved loan amount. Ready to shop for homes!

Find Your Home

Search for homes within your approved price range. Property must meet program guidelines (single-family, 1-4 units, condos, manufactured homes).

Make an Offer & Submit Purchase Contract

Submit purchase contract. Program underwriting begins. Lock in your interest rate.

Underwriting & Appraisal (5-10 business days)

Thorough review of all documentation, property appraisal ordered, verify income, address any questions. Clear to Close status.

Clear to Close (2-3 business days)

Final approval granted, closing disclosure provided, final walkthrough scheduled, closing date confirmed.

Closing & Keys (1 hour)

Sign all final documents, receive keys to your new home, funds disbursed. You own your home!

What Types of Properties Qualify?

Flexible options for your needs

Approved Property Types

Single-Family Homes:Traditional detached homes, condominiums (if project-approved), townhomes.

Multi-Unit Properties (1-4 Units)

Property Requirements

Owner-Occupied: Primary residence required. Cannot be investment property.

Down Payment & Closing Cost Assistance

Program provides up to $25,000 in assistance

Program Assistance

Up to 5% of purchase price with maximum $25,000 assistance.

Seller Concessions

In addition to program assistance!

Maximum Benefit

Combine all assistance sources for best results.

Financial Strategy Example:

Purchase a $300,000 home with program’s $25,000 assistance and seller’s $9,000 concession (3% = $9,000). You need only minimal personal cash for reserves. Closing becomes affordable for essential professionals!

Choose the Right Loan for Your Situation

We offer multiple loan products to fit your needs

FHA Loans

BEST FOR FIRST-TIME BUYERS

Great for borrowers with lower credit or limited down payment.

Conventional Loans

BEST FOR SOLID CREDIT

Good option with stronger credit and stable income.

VA Loans

BEST FOR VETERANS

Exclusive benefits for active-duty and veterans.

USDA Loans

BEST FOR RURAL AREAS

Perfect for purchasing in eligible rural locations.

Frequently Asked Questions

Common questions about the program

What if I was a homeowner but divorced and sold my home?

Possibly! First-time homebuyer status looks at the last 3 years. If your home sale was more than 3 years ago, you may qualify. Consult with a loan officer to review your specific situation.

Can I use gift funds for the down payment?

Yes! Family members can gift funds. A gift letter must be provided stating it’s a gift, not a loan, and the funds don’t require repayment. This is one of the best ways to minimize out-of-pocket costs.

What if my occupation isn't on the approved list?

Contact us! We have 200+ approved occupations. Even if your specific job title isn’t listed, similar roles in the same field may qualify. Loan officers can determine eligibility for your profession.

How long does the entire process take?

Typically 30-45 days from application to closing. Pre-approval can happen within 24 hours. Timelines can vary based on documentation completeness and property appraisal. We work efficiently to close on your timeline.

What happens if the appraisal comes in lower than purchase price?

The loan will be based on the lower appraised value. You may need to increase your down payment or renegotiate the purchase price with the seller. This is a common situation we help borrowers navigate.

Can I use funds from my 401k or IRA?

Retirement account funds can sometimes be used. Requirements vary, and some accounts may need proof of liquidity or vesting. Important: Borrowed funds against retirement accounts don’t count as income. Consult your loan officer about your specific situation.

What if I have credit problems or past late payments?

The program accepts credit scores as low as 580 FICO with FHA loans. Past credit issues can be explained. Lenders evaluate the full picture of your credit history, not just the score. We work with borrowers in various credit situations.

Does the non-amortizing second mortgage affect my credit?

It’s technically a debt, but it doesn’t have monthly payment obligations. It won’t negatively impact your debt-to-income ratio or credit score requirements. This is a major advantage of the program structure.

Can I purchase a condo or townhome?

Yes, if it’s an approved project. FHA has specific requirements for condos. Conventional loans are often easier for condos. Your loan officer will verify eligibility of the specific property you’re interested in.

What is PMI and will I have to pay it?

Private Mortgage Insurance protects the lender if you default. FHA loans require mortgage insurance. Conventional loans require PMI if down payment is less than 20%. Our program helps you avoid or minimize PMI costs.

How much can I borrow?

Your approved loan amount depends on income, debt-to-income ratio, credit score, down payment amount, property type and location, and loan type selected. Pre-approval will specify your maximum borrowing amount and approved purchase price.

What costs are involved in closing?

Typical closing costs (2-5% of loan amount) include: loan origination fee, appraisal, title search and insurance, credit report, homeowner’s insurance, property taxes (prorated), and attorney fees. Program assistance helps cover these costs!

What if I'm married but only one of us qualifies as essential professional?

That depends on program guidelines. Generally, both spouses’ income and credit can be considered. One spouse’s qualifying profession is typically sufficient. Consult with a loan officer about your specific family situation.

Important Program Rules & Homeowner Responsibilities

First-Time Homebuyer Status: Must not have owned a home in the last 3 years. Previous homeownership may disqualify you, though rare exceptions exist.
Primary Residence Requirement: Property MUST be your primary home. Cannot purchase as investment property. You must occupy the property.
Non-Amortizing Mortgage Terms: Second mortgage has $0 monthly payment. Interest does NOT accrue. Loan amount stays same until due. Becomes due when you refinance, sell, or move out. No prepayment penalties.
Owner Occupancy: Must live in home as primary residence. If you move out or rent the property, loan becomes due. Program designed to support homeownership, not investment.

Property Maintenance: You're responsible for maintaining the home in good condition. Required homeowner's insurance at all times. Property taxes must be paid on time.
Principal Residence: Must continue to occupy property as primary home. If you move, second mortgage becomes due. If you rent the property, second mortgage becomes due.
HOA Fees & Assessments: If applicable, must be paid on time. Part of your monthly obligations and affects your qualification and ongoing obligations.
Refinancing: If you refinance, the non-amortizing second mortgage becomes due. Refinancing pays off both mortgages. No penalties—allowed anytime.

Understand Your Mortgage - Key Terms Explained

Interest Rates

Fixed Rate:Stays same entire loan. Monthly payment never changes. Predictable and stable.
Adjustable Rate (ARM): Lower initial rate. Increases after 3-5-7-10 years. Payment can change significantly.

Loan Terms

30-Year: Lowest payment, most interest paid total.
20-Year: Moderate payment, less interest.
15-Year: Highest payment, build equity faster.

PITI Explained

P = Principal (amount borrowed)
I = Interest (cost of borrowing)
T = Taxes (property taxes)
I = Insurance (homeowner's insurance)
Your monthly payment includes all four components.

Down Payment & PMI

Down Payment: Money paid upfront. Larger = lower payments and costs.
PMI: Required when down < 20%. Protects lender. Can be removed at 20% equity.

Rate Impact

Even small differences significantly affect:
• Your monthly payment amount
• Total interest paid over life
• Your total cost of homeownership

Debt-to-Income Ratio

What is it? Percentage of gross income going to debt payments.
Includes: Mortgage, car loans, student loans, credit cards, child support.
Limit: Usually max 56.9% for mortgage programs.

Ready to Achieve Homeownership?

Get personalized guidance from a mortgage expert

Licensed Mortgage Loan Officer