1ST Responder Newspaper - NE
eLEND joins Heroes Mortgage Program to offer down payment assistance for heroes
For many Americans, funding the down payment necessary to realize a dream of home ownership simply is not possible; and squirreling away the dollars to do so on a limited budget could mean several years of renting and waiting to buy a house. In some cases, first responders and other community service employees have trouble affording homes in the areas where they work. With a purchase as big as buying a home, a little help can go a long way. The Advantage Program, introduced to the Heroes Mortgage platform by eLEND, helps hometown heroes like police officers, volunteer and paid firefighters, EMS workers, medical professionals and educators purchase a home within the community where they work, even in high-cost areas. The unique down payment assistance program was specifically designed for those who make a difference in other people’s lives, as well as first time home buyers. “The Heroes Mortgage platform helps connect members of the emergency services community with lenders that are specifically interested in working with them,” said Joseph P. Belsito, publisher of 1st Responder Newspaper. “The Advantage Program created by eLEND is exactly what makes the Heroes Mortgage Pro-
“We’re excited to introduce our Advantage Program to the Heroes Mortgage platform. It’s our way of trying to help hometown heroes advance their dreams of home ownership.”
- BILL PACKER Executive Vice President eLEND
gram a valuable resource for heroes in our community looking for home financing.” Grant provides help to homebuyers Many buyers wait patiently on the sidelines, saving money and watching interest rates rise. Unlike many other home buying assistance programs, eLEND’s Advantage Program provides a grant for the down pay-
ment. These resources can immediately build a borrower’s buying power, helping them act on a purchase more quickly for either that first home, or a move-up home as the family has grown and needs more space. Qualified buyers can receive grants up to 2% of the purchase price, minimizing the
down payment dollars needed at closing. The grant is “forgivable” so it doesn’t have to be paid back, and there are no resale or borrower repayment restrictions. In the state of Wisconsin, appraisal cost (up to $700) is credited back at closing. This program is not yet available in Hawaii or Washington. To qualify, a borrower need only meet one of the following very flexible requirements: a current, retired, volunteer or professional first responder (police officer, firefighter, paramedic, emergency medical technician, etc.), educator, medical personnel, civil servant or military personnel, or a first-time homebuyer or meet certain income requirements. “We’re excited to introduce our Advantage Program to the Heroes Mortgage platform,” said Bill Packer, executive vice president of eLEND, a division of American Financial Resources, Inc. “It’s our way of trying to help hometown heroes advance their dreams of home ownership.” For more information or to check your eligibility for The Advantage Program, visit www.heroesmortgage.com/AdvantageProgram or call 877-541-HERO.
For more information or to check your eligibility for The Advantage Program, visit www.heroesmortgage.com/AdvantageProgram or call 877-541-HERO.