Community Heroes First-Time Homebuyer Program to Help More Families Afford Homes in Arizona

Desert Financial launches a new program that offers 100% financing with no down payment and no Private Mortgage Insurance (PMI) for new homebuyers that serve the community.

PHOENIX (September 3, 2024) – Desert Financial Credit Union is striving to make homebuying more affordable for members of the military, first responders, government and civil servants, educators and those in the medical field through its new Community Heroes First-Time Homebuyer Program launching Sept. 3. 

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.

• 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.

More information about the Community Heroes First Time Homebuyer Program is available at DesertFinancial.com/CommunityHeroes. Interested individuals can apply online at DesertFinancial.com/CommunityHeroes or at any one of the nearly 50 Desert Financial branches in Arizona.

About Desert Financial Credit Union

Celebrating 85 years in Arizona, Desert Financial is the state's most trusted local credit union with over $8 billion in assets, 450,000+ members and nearly 50 branches. Membership eligibility is open across Arizona with contactless solutions making it easy to click, call or come in. As a not-for-profit cooperative, Desert Financial takes pride in sharing success. In 2024, members received $20 million in dividends via the Member Giveback Bonus. Desert Financial is the official retail banking partner of Arizona State University^®. Federally insured by NCUA. Learn more at desertfinancial.com.