First Responders Mortgage Program Deadline Extended
Because of overwhelmingly positive response to the “First Responders Loan Program,” first offered by Guild Mortgage in June of this year, the lender has extended the application deadline for both new purchase loans and refinancing to December 31, 2017.
The popular new mortgage loan program is exclusive to the national lender’s Hawaii offices. Guild’s Kailua, Waikele, Honolulu, and Hilo branches are accepting applications for the First Responders loan program, which offers discounts on closing costs for purchase loans and refinancing to such “first responders” as active duty military, police, fire fighters, ambulance drivers and staff, nurses, doctors, and teachers.
“This program was designed to honor and ‘give back’ to those who give so much of themselves to the community,” said Guild Mortgage Hawaii Regional Manager William Rizzo (NMLS #271274). “The discounts are applied to closing costs on VA, FHA, USDA, and Conventional new purchase loans and refi’s. The property being financed must be located in the State of Hawaii.
“We are inviting our colleagues in the real estate industry to become our partners in offering this benefit to these special members of our community. Many of our Realtors choose Guild to finance their clients’ mortgages and have worked with our loan officers in the past. I encourage them to contact the loan officer or branch office of their choice to learn more about the new program. Guild Mortgage has a number of Partner Realtor and Realtor Associates who will also give a credit of up to 5 percent of their total commission.”
Rizzo explained that the amount that can be lent in this program is from $100,000 to $721,050. The closing cost credit for any loan of $100,000 to $300,000 is $1,000 and $2,500 for loans over $300,000 up to the maximum of $721,050. The applicable amounts will be credited to the buyer by Guild through the escrow company and can be used to pay normal and customary closing costs. Loan amounts over $721,050 will be given a credit on a case by case basis.
“Again, we encourage members of our real estate industry who are interested in partnering to reach out to the Guild branch of their choice. And please keep in mind that the First Responders Program has been extended a full year beyond what was originally announced due to the great response,” Rizzo added.
For more information, please contact Guild Mortgage’s Honolulu Branch at (808) 744-6420, Kailua Branch at (808) 263-4622, Waikele Branch at (808) 369-7153, or Hilo Branch at (808) 933-1095.