MyCommunityMortgage® Loan
Guardian Mortgage offers MyCommunityMortgage® Loans to some of the best neighbors in any community: schoolteachers, firefighters, military personnel, police officers and health care workers.
If you’re a teacher, police officer, member of the military, firefighter, or health care worker and, if you don’t have as much saved for buying a home, MyCommunityMortgage® may be the right fit for you.
With a MyCommunityMortgage loan®, you may need little or no personal savings for a down payment, since it can come from gifts, grants or loans from relatives, nonprofit groups or employer-assisted housing programs. If you qualify for this type of loan, you can increase your buying power toward purchasing a home in the community where you serve.
Key Benefits of MyCommunityMortgage® Loan
- My Community programs offer much more flexible underwriting guidelines, especially in regards to credit score and down payment requirements.
- The My Community Loan Programs offer 100% and 97% loan to value programs, which means that they have 0 down and 3% down programs available.
- These programs usually do not require any borrower contributions of money put into the transaction which many other conforming programs will require at least $500 of the borrower’s own funds.
- Allow for more flexibility when qualifying for the minimum payment on the new home loan using your income
- Lower minimum credit scores than most other home loan programs
- Available for refinance loans as well in which only the Rate and Term of the loan is changed with less than $2,500 cash out.
- Smaller down payment
- Flexible closing costs funding options
- Great for First time home buyers
Things to Consider
- You’re a teacher, educational institutional employee, police officer, firefighter, member of the military or health care worker
- You’re working to improve your credit scores
Our Certified Mortgage Planner Specialists will guide you through each stage of the process and provide you with expert advice along the way. Whether you are Buying a home or Refinancing your current mortgage we are committed to making the home loan process clear, informative, and simple. At Guardian Mortgage, we understand that buying a home is equally big decision as refinancing your current mortgage. That’s why we are committed to providing you with the information you need to make well informed decisions.
