Home Loans For Government Employees
Mortgages for Champions is proud to offer special home loans for government employees. With the special loans we offer, government employees are eligible for special rates and have much of the extra paper work, red tape and extra costs reduced.
With these special home loans, government employees will have the Application Fee, the Loan Processing Fee, the Mortgage Underwriting Fee, the Mortgage Commitment Fee and associated Commitment Points eliminated! This can save our champions as much as 2.00% to 3.00%!
For Government Home Loans In New York State Work With Maple Tree Funding
We know that buying a home and qualifying for a mortgage is one of the most important, if not complex, endeavors most folks encounter in their lifetimes. If you are hoping to purchase a home in the near future and you are interested in learning about the government mortgage options that might be available to you, we encourage you to call and speak with one of our loan representatives.
Our team of loan officers and mortgage professionals is experienced in all aspects of government loans available for New York borrowers throughout the state, including Upstate, Albanys Capital Region, Saratoga Springs, Glens Falls, the Adirondacks and Western NY. Whether you are interested in a FHA, VA or USDA, home loan, we can assess your qualifications, including the eligibility of the home you wish to purchase.
Give us a call today at or fill out our easy online contact form to get started. We look forward to working with you!
Seek Out Loan Approval Early In The Process
If you find your dream home, you want to be ready to make an offer. But if you haven’t been approved for a loan, you’ll slow down the process. And if you’re looking at a popular house, you could lose out to a more prepared buyer.
Talk to lenders to find out what loan is right for you as a government employee. Knowing what loans are available may help you narrow your focus to select neighborhoods, too.
Don’t Miss: City Of Las Vegas Government Jobs
Economic Injury Disaster Loans
If you own a small business or non-profit thats in a declared disaster zone, an Economic Injury Disaster loan can help you rebuild. An Economic Injury Disaster loan can give you up to $2 million to repair your business. Similar to a home and property disaster loan, you cant use an Economic Injury Disaster loan for renovations or upgrades.
What Does This Program Offer Me That I Cant Get On My Own
Once your official employment is verified, our divisional agents will share in detail exactly what incentives are being offered above the general public offerings.
As previously mentioned, getting the lowest possible rates available at the time of your application will give you plenty of time before the actual closing to make a more informed decision without being under pressure or any obligation. Please also appreciate and remember that your Supplemental Benefits Programs Services are free of charge, as we do not act as brokers or middlemen.
In addition, your being a verifiable part of a large official employment group gives you a more powerful edge to high volume lenders, than if you went on your own as a single private borrower.
We are sure you will agree that this example holds true with many products and services in the retail world today, as the larger buying groups usually get the lowest pricing and the best incentives.
Another reason is, we constantly monitor all major lenders across the United States as they frequently change their basic rates and incentives to stay in competition with each other. This way you are positioned to interact with the lowest rate major lenders at the time of your application.
Read Also: Government Jobs In Las Vegas Nevada
Qualifications & Terms For This Special Home Loan
If you work for any of the following departments or fields, you can qualify for our special home loan programs: federal agencies, state agencies, county departments, municipality departments, Departments of Agriculture, banking and insurance, community affairs, corrections, education, environmental protection, health and senior services, human services, labor, law and public safety, military and veteran affairs, treasury, transportation, parks/forestry, Homeland Security, lottery, library, state police, the offices of emergency management, information technology, the Public Defender, and travel and tourism.
Below are some important bullet points about the special home loans programs we offer:
- First Time Home Buyer and Second Time Home Buyer Program or a 203k Streamline to add a new kitchen or more bedrooms for your growing family.
- Financing for a single family home, a two to four family unit, a condominium or a manufactured home.
- Financing for a Mixed Usage Commercial Property such as a store with apartments.
- Home Loan Programs require very little or NO down payment, competitive low rates and allows more flexible credit criteria.
- Refinance Programs also provide a rate and term refinance up to a 97.75% loan to value of the appraised value of your home.
- Refinance Programs also provide a cash-out refinance mortgage up to a 85.00% loan to value.
For more information on special home loans for government employees, please fill out the form on this page, or call us at +1 601-1917.
Good Neighbor Next Door
This initiative was originally called the Teacher Next Door Program but was expanded to include law enforcement, firefighters and emergency medical technicians, hence the snappy Good Neighbor name. A HUD-sponsored program, it allows 50% discounts on the list price of homes located in revitalization areas. Yes, half off. Who knew? You just have to commit to living in the property for at least 36 months. These homes are listed for just seven days on the Good Neighbor Next Door sales website.
Also Check: Las Vegas Government Jobs
Direct Subsidized And Unsubsidized Loans
Direct subsidized and unsubsidized loans are two different types of low-interest education loans offered through the Department of Education to help cover the cost of college or career school.
- Direct Subsidized loans are available for undergraduate students to attend a 4-year or 2-year college, technical school or trade school. They are only for students who demonstrate financial need. The U.S. Department of Education pays the interest while youre in school at least half-time, for the first 6 months after you leave school and during a period of deferment. Annual loan limits apply.
- Unlike direct subsidized loans, direct unsubsidized loans are not awarded based on need, but rather the cost of your tuition and other financial aid you need. Direct unsubsidized loans begin accruing interest as soon as you take out the loan. Annual loan limits apply.
Are You A Good Neighbor Next Door
Do you work as an emergency medical technician, police officer, firefighter, or k-12 teacher? The Good Neighbor Next Door Sales Program could be your housing answer.
Through this HUD program, you can get 50% off the price of a home in an eligible area. You just need to commit to living there for 36 months.
These areas tend to be underserved. You’ll be able to find a list of available properties in different states through the HUD website. As part of the agreement, you’ll need to fill out a second mortgage for the amount of the discount. As long as you stay in the house for the agreed time, you won’t need to make any payments on it.
All you need to do is submit the necessary paperwork. You could get a great house at a steep discount!
You May Like: City Of Las Vegas Government Jobs
Purchase A New Home With A Va Loan
This differs from the standard for conventional loans. With conventional loans, you’ll need to pay for insurance if you’re unable to make a 20% down payment.
Installment Loans For Federal Employees With Bad Credit
Federal government employees are much more advantageous in this sphere as their working places arent subjects for much risks of layoffs, and other economic factors.
Moreover federal employees have much more chances to get a personal installment loan even with bad credit.
Lenders take into account your lower risk score comparing to private sector as well as more reliable stable future income.
Despite the advantageous position federal workers may have a need to borrow money to meet everyday expenses.
The may use payday loans requiring small payouts following their payday dates.
They are often used in case of true emergencies that go far beyond your usual spending.
Their most significant benefit is no influence from the part of your bad credit.
Also Check: Grants To Start A Trucking Business
The Unique Challenges A Government Employee Faces
Government employees are people who work in local, state, or federal government agencies. While working in this area can be rewarding, it also brings financial challenges. Income limitations or frequent moves can make homeownership seem out of reach – that’s what we are here for! To help make your home purchase easy and successful.
Explore Installment Loans For Government Employees Now
Granted, the employment benefits of government workers are more awesome than private employees. But those who work for the government dont enjoy the same high income many in the private sectors do.
In cases of financial emergencies, installment loans for government employees can help. They can tide you over until your finances are more stable. Be sure that you look at all your options first, so that you can choose the best loan based on your needs .
Ready to start looking for the best online installment loans? If so, then be sure to check out this guide we have on finding the best online loans!
Read Also: Entry Level Government Jobs Las Vegas
Payroll Allotment & Installment Loans For Federal Employees
Federal government employees have multiple ways to borrow money to help with emergency expenses or accelerate meaningful purchases.
Installment contracts such as personal loans and auto financing feature uniform monthly payments over a pre-defined period and appeal to people with reasonable borrowing credentials because the terms are often more affordable.
Payroll allotment loans are also installment contracts and appeal to individuals with bad credit histories. These lenders often approve applicants without pulling a copy of their consumer report or considering their low FICO score.
Where Can You Apply Allotment Loans
You should consider the options available for you based on where you work.
For instance, federal employee payroll deduction loan can be provided by special governmental programs, credit unions, etc.
Therefore, you should find out if there are special options that you can use from.
If you work for a private company, you can apply with different lending businesses operating online.
If your credit score is good, no problem should be encountered.
At the same time, people with bad credit may find it more difficult to qualify.
Agreeing to pay your debts automatically may increase your chances of being approved, but you should choose the lender carefully to avoid scammer to access your account.
Read Also: Start A Trucking Company Grant
Types Of Reverse Mortgages
- Federally Insured Reverse Mortgages – Known as Home Equity Conversion Mortgages
- Proprietary Reverse Mortgages
- Single Purpose Reverse Mortgages
When finding a lender remember:
- Be suspicious of anyone claiming that you can own a home with no down payment
- Seek out your own reverse mortgage counselor
- Never sign anything you do not fully understand
- Make sure the loan is federally insured
Mortgage Assistance In Times Of Need:
If youve had a Union Plus Mortgage for at least one year and youre facing income loss due to disability, layoff or strike you may be eligible for unique mortgage assistance, including no-interest loans and grants.
The AFL-CIO, Union Privilege and a group of unions own Union Plus Mortgage Company and will benefit if you get your loan through the company. However, you are not required to use Union Plus Mortgage for your loan and are free to shop. For your Affiliated Business Arrangement Disclosure Statement, please visit www.unionplusmortgage.com.
Union Plus Mortgage Company NMLSR 1561829
Recommended Reading: Money For Homeschooling From The Government
Does The Government Offer Home Loans For Senior Citizens
The government-insured Home Equity Conversion Mortgage is a common reverse mortgage option for senior citizens above the age of 62. The HECM allows homeowners to convert their homes equity into cash to pay off their existing mortgage. In addition to other eligibility factors, the Department of Housing and Urban Development requires borrowers to complete a HUD-approved reverse mortgage counseling session.
Rocket Mortgage does not currently offer HECMs.
The Homepath Ready Buyer Program May Work For You
This program through Fannie Mae can get you a great deal on a foreclosed property. The catch with buying a foreclosed property is that you get the property as-is. On the other hand, you may be able to get a home at a steep discount if you don’t mind doing a few repairs.
As a bonus, the HomePath Ready Buyer Program can cover up to 3% of the purchase price in closing costs. You’ll need to take a housing education course, too, as part of the program.
Recommended Reading: Rtc Careers Las Vegas
$0 Down Home Loans Available
FedHome Loan Centers is your connection for affordable government programs to help you buy, sell or refinance residential real estate.
FedHome Loan Centers is comprised of a tight network of experienced Realtors®, seasoned loan specialists, knowledgeable counselors and other mortgage professionals who work together on your behalf to ensure the success of your home-buying, home-selling or home-refinance experience.
You can contact a Government Loan Specialist at FedHome Loan Centers now by calling: 877-432-LOAN
Auto Loans For Government Employees With Bad Credit
Most auto loans intended for people with bad credit have a few things in common. Primarily, they have strict income requirements, come with high interest rates, and can require a rather hefty down payment.
Depending on the lender, they may also require you have a certain amount of time at your current job, a lengthy list of references, as well as age and residency qualifications. Most of the requirements for a bad credit auto loan should not be a problem for the average government employee to meet.
- Network of dealer partners has closed $1 billion in bad credit auto loans
- Specializes in bad credit, no credit, bankruptcy and repossession
- In business since 1999
With its large network of dealer partners, Auto Credit Express helps government employees and anyone with bad credit or no credit to find a car loan. The company works with lenders and car dealerships that specialize in bad credit loans, and can usually find a local dealership for you to make your purchase.
The Auto Credit Express website has a quick and easy pre-qualification form that can let you know the size loan you can get. It also offers tips and informative articles that will help explain the process of qualifying and applying for a bad credit auto loan, as well as what you can expect from a loan like this.
- Specializes in auto loans for bankruptcy, bad credit, first-time buyer, and subprime
- Affordable payments and no application fees
- Same-day approval available
Recommended Reading: Government Jobs Vegas
Youre Our First Priorityevery Time
We believe everyone should be able to make financial decisions with confidence. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free.
So how do we make money? Our partners compensate us. This may influence which products we review and write about , but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services.Here is a list of our partners.
Direct Lenders For Installment Loans
If you work for the government, you should find out what benefits you can have, for instance, joining Federal Credit Unions.
In this case, you may be able to enjoy lower APRs and have fewer problems with being approved even if you have bad credit.
There are also lots of online lending companies that prefer dealing with people with a steady job, particularly government employees.
Some of them will run no credit check since it is enough for those loan providers to know where you work and how much you earn each month.
However, you should read your loan agreement carefully before signing it.
Applying for a secured loan is also an option for people who want to get the money quickly and enjoy good conditions.
Since you will provide your lender with collateral, one will get some profit even if you cannot pay, but this solution should only be used if you are 100% sure about your ability to repay everything back on time otherwise, you will lose your property.
Even if you find attractive conditions, it is essential to check customer reviews on a lender and ones ratings.
This is how you will find out about all possible problems that you may encounter if you deal with one to decide if a loan provider is really worth your trust.
Don’t Miss: City Jobs Las Vegas Nevada
The Bottom Line: What Government Loan Will Work For You
Government-backed loans allow borrowers with lower credit to get the financing they need. For first-time home buyers especially, government home loans can give more people the chance to become a homeowner.
Get started today with Rocket Mortgage and see what government home loans you may qualify for.
Take the first step toward the right mortgage.
Apply online for expert recommendations with real interest rates and payments.