What is it?
Geneva Financial is committed to America’s everyday heroes. We carry multiple HERO mortgage products, including a 2% down payment assistance program.
This nearly nationwide* program is designed to provide down payment assistance equal to 2% or 3.5% of the purchase price to a wide variety of eligible borrowers.
- A simple one-step process: the application is streamlined for the borrower, using the 1003 they have already completed!
- DPA is a grant equal to 2% or 3.5% of purchase price
- May be combined with up to 6% seller concession for closing costs
- No resale or borrower repayment restrictions
- Can be used with the FHA 203(b) program
- Total borrower’s income is equal to or less than 140% of the median area income
- First-time home buyers
Who can get a hero loan?
Any borrower on the loan application who is a current, retired volunteer, or non-paid:
- First-responder: police officer, firefighter, public safety officer, paramedic, or emergency medical (EMT), including volunteers or similar
- Medical personnel: nurse, doctor, phlebotomist, or health ambassador, or hospital, American Red Cross worker, or similar
- Civil servant in a federal, state, or local municipality
- Military personnel
* Not available in Hawaii and Washington