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Financing for Cops/FF/EMS etc.

Discussion in 'Cop Talk' started by puckhead, Aug 30, 2011.

  1. puckhead

    puckhead

    1,317
    15
    Feb 26, 2009
    Does anyone know of any companies/banks/lenders that help us out with home loans? Reduced rates/less down payment etc? Looking in my area, and there's not a lot in my range right now. Any info is appreciated! Thanks guys!
     
  2. texan86

    texan86

    27
    0
    Feb 11, 2006
    Texas
    Check out Homes for Heros. Google them, read about them on their web site, then you can contact them. They will put you in touch with a lender and a realtor that will save you some $$$. PM me if you have any questions about them. I just used them buying a house this summer.
     


  3. puckhead

    puckhead

    1,317
    15
    Feb 26, 2009
    Thanks! Any little bit will help these days, thats for sure!
     
  4. scottydl

    scottydl

    2,679
    52
    May 31, 2005
    The Middle
    Don't want to be a naysayer here, but if there's not a lot in your range right now... then it's probably not time to buy a house yet. Last thing you want to do is barely squeak by the minimum requirements financially, then be up a creek later if something happens to your income.
     
  5. puckhead

    puckhead

    1,317
    15
    Feb 26, 2009
    Very true! But I have done the math several times over and know what I can afford. Just making sure I exhaust all savings options out there!
     
  6. scottydl

    scottydl

    2,679
    52
    May 31, 2005
    The Middle
    Savings = good. :)

    I was lucky enough to snag a 15-year refinance at 3.75% last Fall. I was very pleased with that rate. My previous refi was at 4.87% and I never thought I'd get anything lower than that.

    Go for a 15-20 year term if possible, payment will be higher but you'll save gobs on interest over the years. Not to mention you will gain equity MUCH faster and have the loan paid off 10-15 years sooner.