Desert Financial Launches Community Heroes Homebuyer Program
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Desert Financial Launches Community Heroes Homebuyer Program
Desert Financial Credit Union is excited to announce a groundbreaking initiative aimed at making homeownership more attainable for those who serve our community. The Community Heroes First-Time Homebuyer Program is designed to support military personnel, first responders, educators, and medical workers by offering 100% financing with no down payment and no requirement for Private Mortgage Insurance (PMI).
Making Homeownership Accessible
This innovative program addresses the financial challenges faced by community servants. By eliminating the need for a down payment and waiving PMI, Desert Financial aims to ease the financial burden associated with buying a home. As the program launches, it aims to empower countless first-time homebuyers, ensuring they can purchase homes without the significant hurdles that typically accompany home loans.
Key Features of the Program
The Community Heroes First-Time Homebuyer Program boasts several key features that enhance its appeal:
- No Down Payment: Eligible applicants can secure a mortgage without the worry of a down payment, a common barrier for many buyers.
- No Private Mortgage Insurance (PMI): By waiving PMI, borrowers can significantly lower their monthly payments, making homeownership more feasible.
- Competitive Interest Rates: The program offers attractive rates, ensuring affordability and financial peace of mind.
- Flexible Terms: Borrowers have the option to select from various loan terms that best fit their financial circumstances.
Who is Eligible?
To qualify for this transformative program, applicants must: meet standard credit and income requirements, not have owned a home in the previous three years, and provide documentation proof of their professional role or retirement status. The program encompasses a wide range of professions, benefiting both current workers and retirees, including:
- Educators: Teachers and administrative staff in schools and colleges.
- Military Personnel: Members from all branches of the military.
- First Responders: Those who serve in law enforcement, firefighting, and emergency medical services.
- Government and Civil Servants: Employees working for public service agencies.
- Medical Workers: Employees in various medical care settings, including clinics and hospitals.
Learn More
For those interested in the Community Heroes First-Time Homebuyer Program, more information can be found on Desert Financial’s official website. Individuals can find the details they need and apply online or visit one of the nearly 50 branches across the state.
About Desert Financial Credit Union
Celebrating more than 85 years of service, Desert Financial Credit Union stands as Arizona's most reputable local credit union, boasting over $8 billion in assets and a growing member base of over 450,000 individuals. Their commitment to community is evident in their Member Giveback Bonus, which distributed $20 million in dividends to members in 2024 alone. As a not-for-profit organization, they take pride in supporting their members with accessible banking solutions. For more details on their services, visit their website.
Frequently Asked Questions
What is the Community Heroes First-Time Homebuyer Program?
This program by Desert Financial Credit Union helps eligible community servants purchase homes with 100% financing and no PMI.
Who qualifies for the program?
Eligible professions include military members, first responders, educators, government employees, and medical workers.
What are the benefits of this program?
The program offers no down payment, no PMI, competitive interest rates, and flexible loan terms.
How can I apply for the program?
Interested individuals can apply online or visit any of the Desert Financial branches.
When did the program launch?
The Community Heroes First-Time Homebuyer Program is newly launched and available for applicants seeking to secure a mortgage.
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