We’re proud to announce the launch of our new First Home Heroes program! We want to recognize the heroes in our communities — including first responders, teachers, and medical professionals — and thank them for everything they have sacrificed to protect us, educate us, and keep us safe and healthy.
This new initiative reduces some of the out-of-pocket closing costs associated with the loan application process to help make homeownership a reality for these everyday heroes!
This reduction is made possible by eliminating certain fees during the lending process. Eligible borrowers will have their application, underwriting, and processing fees credited back to them at time of closing, up to a maximum of $1,585.
This new program builds on our efforts to help make homeownership a reality for all — especially those who most deserve it!
If you are a police officer, firefighter, educator, or medical professional (including nurses, doctors, and other healthcare workers), you may be eligible! If you’re purchasing a new home, First Home Heroes is here for you.
Contact one of our qualified loan officers today to see if you’re eligible
The Federal Reserve has just shared their perspective on the economy – so how does it impact your homebuying process?
Today the Fed increased their target rates by .50%. Importantly, this doesn’t mean that prevailing mortgage rates increased overnight! In fact, average mortgage rates have actually declined since the Fed’s last rate announcement in early November.
The Fed periodically raises and lowers the Fed Funds rate in order to either speed or slow the pace of the overall economy. With inflation continuing to remain above the Fed’s stated goal, they are trying to slow down the economy and bring inflation under control. The Fed’s dual goals are to increase employment rates across the economy, and to maintain low inflation. Today’s action is an effort to get inflation back in line.
The good news is that the pace of inflation has been slowing in recent months. The Fed recognizes this; accordingly today they were able to raise rates by the lowest amount since June, a sign that they are beginning to see results in their fight against inflation. That’s good news for all of us: lower inflation means our dollars go farther every month!
Tracking what the Federal Reserve’s actions might mean for your homebuying decision can be challenging. If you’re thinking about purchasing a home, contact the professionals at First Home Mortgage today to help stay informed!