Desert Financial Credit Union Launches New Community Heroes First-Time Homebuyer Program

Posted by Alyse Knudsen on September 18, 2024

On Sept. 3, Ariz.-based Desert Financial Credit Union launched its Community Heroes First-Time Homebuyer Program, a new program that strives to make homebuying more affordable for members of the military, first responders, government and civil servants, educators and those in the medical field. 

The program offers first-time homebuyers competitive interest rates and flexible terms without a down payment or PMI, ensuring that homeownership is within reach for those who dedicate their lives to serving their community. 

“It can be easy to feel invisible when you spend your life serving the members of our community,” said Jeff Meshey, CEO of Desert Financial Credit Union. “At Desert Financial, we see you, and we’re grateful for all you do. Let us help you take the next step in finding a home that can provide greater financial stability and build wealth for your family.” 

Key features of the new program include: 

• No Down Payment Required – Eligible community servants can secure a mortgage without the burden of a down payment. 
• No Private Mortgage Insurance (PMI) – Unlike traditional loans, this program waives PMI requirements, further reducing monthly costs. 
• Competitive Interest Rates – The program offers attractive interest rates to make monthly payments more affordable. 
• Flexible Terms - Borrowers can choose from a variety of loan terms to best suit their financial situation. 

To qualify for the program, applicants must meet standard credit and income requirements, not have owned a home in the last three years, and be able to provide documentation supporting their line of work or place of retirement. A broad range of professions are included in the new program, which pertains to current workers and retirees. This includes: 

• Education workers - Teachers and administrators working in pre-K, primary and secondary schools and colleges. School district, private and charter school employees are also included in the program. 
• Military members - All branches of the military, including the Reserves and Coast Guard. 
• First responders - Employees of federal, state, or local law enforcement agencies. First responders also include police officers, firefighters, EMTs, and other emergency medical personnel and all employees working for police or fire departments. 
• Government/civil servants - Any employee working for a government public service agency. 
• Medical workers - Any employee working for a medical care provider, hospital, physician’s office, medical practice, inpatient and outpatient care center or clinic, assisted living facilities, skilled nursing facilities, and medical research facilities. 

For more information about Desert Financial’s Community Heroes First Time Homebuyer Program, click here.  

Posted in Arizona, Community Impact, Regional Member News, Top Headlines.