1. #1
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    Default Mortgages for Firefighters?

    Have any of you heard of the special mortgage programs for firefighters that they have now? My girlfriend is doing one for my brother right now and its awesome. She gave him a 6% fixed rate and lowered his monthly payment by a lot. I just got my EMS degree and Paramedic Certified and I'm almost done with fire acadamy. When I start working I'm getting that mortgage. Maybe I could help you guys out if you have a high monthly payment and you're already working. Let me know.

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    I do mortgages, and have for 5 years. 6% may or may not be a good rate, based on the applicants credit, debt ratio, etc. I work for a mortgage broker, and we work with 44 lenders, each of whom has 50 to 150 different plans. So check around before you jump in - it's your money.

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    Default reply to sleuth: mortgages for firefighters

    I just recently got my brokers license and am very new to the industry, and trying to learn as much as I can from my g/f who started as a processor and now is a broker. From what my girlfriend explained, it was an incredible deal and program for his situation. From her mouth: his score was 633, his dti was 58.7%, and it was a cashout refi. She said the rate is whats called "PAR." Anyway, thank you very much for the advise, I don't want to be wasting my money thats for sure! I noticed you are in Arizona. Isn't doing mortgages in AZ different than in FL? Do you ever do business down here in FL?

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    With that credit score (for those not in the biz, good credit starts at 620), and debt/income ratio, that is a good deal.

    We are only licenced in Arizona. Since this is a Fire forum, PM me if you want to continue the conversation.

    Best of luck.
    Sleuth

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    Sorry - double post
    Last edited by Sleuth; 03-07-2007 at 05:11 PM. Reason: Deleted - double post

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    You need to look into the S.H.I.P. program. I don't know if you would qualify, but my wife is a Florida real estate agent who has helped coworkers find a lender to get FF's set up. The program essentially helps first time home buyers or those in certain circumstances. I believe they give you $15,000 toward the purchase price of the home and up to $10,000 for repairs. It is available to the general public if they meet certain criteria, however, the criteria are relaxed more for civil servants. It is a loan, but it is interest free and you do not repay it until you sell your home, refinance, pay off the loan, or at the end of 30 years. Also the program is not available in all counties so check with a lender who would be knowledgeable about S.H.I.P. The details I have may not be entirely correct, but I know it is supposed to be a good deal.

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    Thumbs up Firefighter Mortgages

    Definitely check out Firefighter mortgages.com!

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    where in fl? how can i reach you? re-fi?

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    from my experience when we were looking for our mortgage most "firefighter" mortgages were standard mortgages with a title attached to them to attract public safety......basically the same programs anyone could get wether they were a firefighter or not....we ended up with a better deal through FHA than one of the "firefighter" loans.....the only thing i did find was a HUD program to purchase a distressed home at 50% and fix it up for you....but they are in distressed areas of town....wasnt doin that in tampa....especially leaving my lady there for a 24 hr period alone

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