Common challenges
Overtime, shift differentials and second jobs are normal first-responder pay, but agency guidelines require a two-year history before most of that income counts, new hires can qualify on base pay only.
Programs that fit
FHA Loans
An FHA loan is a government-insured mortgage that allows 3.5% down with a credit score of 580 or higher, or 10% down with a score from 500 to 579.
Conventional Loans
A conventional loan is a mortgage not insured by the government that follows Fannie Mae or Freddie Mac guidelines.
VA Loans
A VA loan is a mortgage guaranteed by the Department of Veterans Affairs that lets eligible veterans, active-duty service members and certain surviving spouses buy with no down payment and no monthly mortgage insurance.
HUD Good Neighbor Next Door
HUD’s Good Neighbor Next Door (GNND) program sells eligible single-family homes to teachers, law enforcement officers, firefighters, and emergency medical technicians at 50% off the list price, with just $100 down, in exchange for a 3-year owner-occupancy commitment..
Tips before you apply
- Document two years of overtime to get it counted; a single big year is usually averaged or excluded.
- Injured on duty? Workers’ comp and disability income often count with a 3-year continuance letter.
- Law enforcement officers, firefighters and EMTs: check Good Neighbor Next Door for 50% off HUD homes in revitalization areas.
FAQ
What is the best mortgage for police officers & firefighters?
It depends on your documentation and goal. The programs that most often fit are FHA Loans, Conventional Loans, VA Loans, HUD Good Neighbor Next Door.