WOODBURY, Minn.–Ideal Credit Union has launched a new Community Heroes Mortgage Program aimed at first responders, teachers, members of the military and others that offers a 1% downpayment option.
“We wanted a way to thank our community heroes for their dedication to the wellbeing of others and in return help them with their home financing needs,” said Faith Tholkes, VP of mortgage lending operations. “Through the Ideal Community Heroes Mortgage Program, we provide a meaningful way to give back to these brave, selfless individuals and help them to achieve their goal of homeownership.”
The Ideal Community Heroes Mortgage Program is available to applicants employed full or part-time in the following areas: Public or private educational institution, fire department, federal, state or local government law enforcement agency, nursing (all designations), active or former military, EMTs and paramedics. The mortgage is restricted to the primary residence (purchase only) and proof of current employment and/or former military service is required, the credit union said.
Ideal Credit Union noted it also offers a HomeAdvantage program, a free service that can help users search, buy, sell and save on their next home. HomeAdvantage provides the tools and expertise needed to find and finance a home, and offers an attractive a rebate program that enables home buyers to earn cash back at closing. Since its inception, the credit union said the HomeAdvantage program has paid out more than $240,000 in rebates to hundreds of Ideal CU members. The average rebate per transaction is $1,370.