Buying a home is everyone’s dream, but for some, it is more than a wish. It is an aspiration they have worked tirelessly for. However, not everyone can get a mortgage through traditional channels. Luckily, a program is set specifically for buying homes for heroes. This includes veterans, military personnel, first responders, educators, and others. If you are one of those individuals looking to make their dreams of owning a home a reality, you are in the right place. In this blog post, we will tell you all about the Loans for Oregon Heroes program and how it can help you purchase your dream home.
Eligibility Requirements
The Loans for Oregon Heroes program is a statewide initiative aimed at helping those who have served the state and its communities to obtain a home loan at favorable rates. This program is designed to complement the existing VA home loan programs and other loan programs available for Oregonians. The program is open to veterans, active-duty military personnel, first responders, educators, including teachers and school staff.
Benefits of Oregon Heroes Loans
Benefits of this program include lower interest rates, reduced closing costs, down payment assistance, and access to an array of loan types. These include conventional loans, FHA loans, and VA loans. This program allows you to make a low down payment or no down payment at all, depending on the borrower’s credit score and the loan size.
Reduced Fees For Veterans
The Loans for Oregon Heroes program also offers reduced fees on all VA home loans for veterans and members of the armed services. Veterans must use a participating lender, and the reduced fees apply to VA loans only. This helps veterans and military personnel save on expenses related to buying a home.
Lower Scores Still Qualify
The program also offers expanded credit underwriting criteria to ensure that deserving heroes with low FICO scores can still qualify for the program. This means that even with lower credit scores, homeowners can fulfill their dreams of owning a home.
Lower Interest Rates
If you are an educator or a first responder like a firefighter, medic, or police officer, the Loan for Oregon Heroes program offers you the chance to buy a home at low-interest rates. In addition, there is no need for borrowers in these groups to pay mortgage insurance on their loans, which can make homeownership more affordable.
Giving Back
Another great benefit is 3% of company compensation from the home loan will be donated to a local charity. You can choose from the following: Local Adopted School, Gary Sinise Foundation First Responders, or the Wounded Warriors Project.
Homes For Heroes
The Loan for Oregon Heroes program is an excellent option for homes for heroes in Oregon. It has favorable loan terms and various loan types, including loans for those with low Ficoscores. Plus, it offers reduced closing costs, reduced fees on VA loans for veterans, and more. This program helps make homeownership more affordable and accessible to our heroes.
Strategic Mortgage Solutions Can Help
If you fall under one of the categories eligible for this program and are looking to buy a home, take advantage of this opportunity and contact us today. At Strategic Mortgage Solutions, we can’t quite find the words to express our gratitude for all you do adequately. However, we can help you save money and give back to the community when buying a home with the Loans for Oregon Heroes Program. Let us help make your homeownership dreams come true.
