Manasquan Bank Introduces Home Loans for Local Heroes
Supporting Our Local Heroes with New Home Lending Programs
Manasquan Bank has proudly introduced innovative home lending products specifically designed for the heroes in our community. This initiative encompasses the dedication provided by educators, first responders, and military personnel. Aimed at making homeownership more achievable, these programs illustrate the bank's commitment to those who serve their communities.
The Three Hero Loan Programs Explained
The offerings include the Educators 1st Loan, the First Responders Loan, and the Hero Home Loan. Each program has unique benefits that cater directly to the everyday needs of qualified borrowers. Those purchasing a primary residence may enjoy notable features such as no requirement for Private Mortgage Insurance (PMI) with a minimum deposit of 15%, no increase in interest rates, plus a reduced rate of 0.125% for automatic payments from a Manasquan Bank checking account.
Benefits of the Educators 1st Loan
The Educators 1st Loan highlights the importance of education professionals. This program is available to all personnel working for public and private educational institutions, which includes teachers, school nurses, custodians, and administrative staff. To qualify, applicants must provide verification of employment through documents like a valid school ID or paycheck stub.
How the First Responders Loan Works
For those in lifesaving roles, the First Responders Loan caters to active firefighters, police officers, and EMTs. Proof of service through an official badge or identification card will assist applicants in securing this loan, thereby further empowering those who dedicate their lives to public safety.
Unlocking Opportunities with the Hero Home Loan
The Hero Home Loan specifically aims to assist active-duty military members and veterans. Eligible applicants must show military identification, which makes the program accessible to those who have served. This reinforces the bank's pledge to honor those who protect our nation.
Easy Access to New Loan Programs
The new lending programs are now live, designed to assist heroes in their journey to homeownership. People seeking further guidance or interested in applying can connect with local representatives or discover more information through the bank's lending solutions platform.
About Manasquan Bank
Manasquan Bank stands as a mutual community bank with significant assets exceeding $3.2 billion. Since its inception in 1874, the bank has consistently evolved to include both traditional banking services and digital innovations. They have fifteen branches that cater to various communities, including Middlesex, Monmouth, and Ocean Counties. Moreover, their commitment extends beyond banking as they actively support local charitable initiatives through the Manasquan Bank Charitable Foundation.
Frequently Asked Questions
What types of professionals can apply for the Educators 1st Loan?
The Educators 1st Loan is available to various employees of educational institutions, including teachers and administrative staff.
What documentation is needed for the First Responders Loan?
Applicants must provide proof of service, such as an official department ID or a badge.
Who qualifies for the Hero Home Loan?
Active-duty military members and veterans with honorable discharges can qualify for this loan.
How does the interest rate discount work?
Borrowers who set up automatic payments from a Manasquan Bank checking account enjoy a 0.125% discount on their loan rates.
Can I get my application fee refunded?
Yes, the application fee is refunded at the time of loan closing, ensuring there are no hidden fees involved.
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