Financing for Cops/FF/EMS etc. [Archive] - Glock Talk

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puckhead
08-29-2011, 22:28
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!

texan86
08-29-2011, 22:49
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.

puckhead
08-30-2011, 19:26
Thanks! Any little bit will help these days, thats for sure!

scottydl
08-30-2011, 22:15
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.

puckhead
08-30-2011, 22:43
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.

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!

scottydl
08-31-2011, 07:36
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.