The Community Heroes Mortgage program from Superior National Bank is designed to help first responders, law enforcement, healthcare professionals and teachers achieve homeownership in the Michigan communities that they work tirelessly to serve. Recognizing the sacrifices and contributions these individuals make to their communities, this mortgage program provides financial incentives such as reduced mortgage insurance costs and up to 99% financing.
Benefits of the Community Heroes Mortgage
1. Borrow Up to 99% of Home Purchase Value
One of the key advantages of the Community Heroes Mortgage program is the low down payment of only 1% of the home’s purchase price. This makes homeownership much more accessible by eliminating large upfront costs – a common barrier to Michigan homebuyers, especially first time buyers.
2. 7/1 ARM with Flexible Amortization Options
With an ARM, borrowers often start with a low introductory interest rate. The flexible amortization options allow borrowers to choose how they structure their payments during this period, keeping initial costs lower than a traditional fixed-rate mortgage.
3. Reduced Mortgage Insurance Costs
With lower mortgage insurance costs than traditional loan programs, buyers are able to reduce their monthly payment. This insurance savings combined with a lower interest rate, can significantly increase cash flow each month, for those who serve our Michigan communities.
Employment Eligibility for Community Heroes Mortgage
Any employee paid directly by a police department, fire department, hospital or school will qualify for the Community Heroes Mortgage. Below are a few examples of eligible professions. To learn more about eligible professionals or to see if you qualify for this opportunity, contact Julie Krumholz from Superior National Bank.
- Education: Teachers, Custodians, Bus Drivers, or any employee paid directly by the school district.
- Health Care: Nurses, Emergency Medical Technicians, Paramedics or any professional employed by a hospital/medical facility.
- Police: Officers, Dispatchers or any other employee paid directly by police department.
- Fire: Fire fighters, EMS, Emergency dispatchers or any other employee paid directly by fire department.
Contact Michigan Community Lender, Julie Krumholz – Superior National Bank
For additional details on eligibility or to start the application process, contact Julie Krumholz from Superior National Bank today!
With over 35 years of experience in the mortgage industry, Julie Krumholz from Superior National Bank is a trusted resource and friend to homebuyers. Julie has worked in processing, closing, loan origination, underwriting, and QC auditing and has even co-owned a mortgage brokerage firm. Julie applies her knowledge to help first-time and seasoned homebuyers with a seamless homebuying experience.