Home loans for local heroes offer several benefits designed to support and reward individuals who have made significant contributions to their communities. These benefits can make it easier for these individuals to achieve homeownership and provide financial stability!
Closing Speed
We can get you CLOSED and in your new home before you receive your first pay stub!
Hero Down Payment Assistance Program
- Receive 5% of the loan amount to pay towards your down payment and closing costs!¹
- 30 Year Fixed interest rate mortgage loan
- Down payment assistance is never required to be repaid
American Frontline Rewards
At Fairway Independent Mortgage Corporation, we are dedicated to creating opportunities for everyday heroes. That’s why we are offering eligible borrowers an exclusive closing cost discount that is designed specifically to help them achieve homeownership. Who is eligible?…
Veteran and active duty military ● First responders ● Medical Professionals ● Law Enforcement ● Firefighters ● Teachers
Up to 50% discount on the sales price of your new home.²
¹Must qualify for the program’s income & credit guidelines provided by the Texas Department of Housing & Community Affairs. ²Must live in the home for the full 36-month mandatory occupancy period. If they move out of the Good Neighbor Next Door home before the 36 months, they will have to repay HUD on a prorated schedule. Police Officers may participate in the GNND program if they are employed full-time by a law enforcement agency of the federal government, a state, a unit of general local government, or an Indian tribal government; and, in carrying out such full-time employment, they are sworn to uphold, and make arrests for violations of, federal, state, tribal, county, township, or municipal laws. Only homes that are designated by HUD to participate in the GNND lottery can qualify for this program.
"Loans are what we do, not who we are."- CEO, Steve Jacobson
“Loans are what we do, not who we are.” – CEO, Steve Jacobson
This may vary depending upon the specific type of mortgage you are applying for, as different agencies will need to be involved in the process. Typically the process plays out in a month or less, though some will go quicker. It is not uncommon to have the mortgage application processed within 10 days. It is critical that you get the application entirely completed, so that you can avoid any delays along the way.
The main thing that can delay the approval of a loan is failing to properly and completely fill out the applications. It is also important that you be completely honest on the applications, as any discrepancies may cause delays. In addition, changing jobs, having a change in your salary, changing your marital status or taking on additional debt can delay the approval of a loan.
Closing costs include items such as taxes, title fees and hazard insurance. Sometimes what is included in closing costs varies, and it can be impacted by the negotiation process on the sale price of the home, as the homeowners may or may not cover certain closing costs. You’ll want to have some money set aside to cover your closing costs.
Prepaids are items that you as the homebuyer pay at closing. This is a payment before the actual due date. These may be necessary depending upon the details of the closing. They include taxes, hazard insurance and other various assessments.
After you close, you’ll receive a letter that includes all of the dates and information that you need. If you want further details while you are closing, you should inquire about the specific due date of the first payment.