image courtesy of abcnews.

Do you work as a teacher?
How about a firefighter or police officer?
Then you’re in luck, at least when it comes time to buy a home.

This article actually is a BIG BONUS for you.
Officials with the Indiana Housing Finance Authority, along with those at the Fannie Mae Indiana Partnership Office, are offering a new loan program designed to help teachers, firefighters, police officers and state and municipal workers become first-time homebuyers. The program, known as First Home Community, provides borrowers meeting the program’s employment requirements flexible credit guidelines, meaning that borrowers with less-than-perfect credit can get more easily approved for a mortgage loan. Borrowers taking advantage of the program must make a downpayment contribution of only 1 percent or $500, whichever is less.

“Many of our hard-working young firefighters will appreciate the opportunity to be able to become homeowners with this program,” said Tom Hanify, president of the Professional Firefighters Union of Indiana. “And communities will benefit from the increased stability and security.”

Those who qualify for First Home Community include full-time sworn law enforcement officers and firefighters; elementary and secondary school teachers and administrators; and employees of the State of Indiana or Indiana municipalities.

The program is offered through Indiana Housing Finance Authority participating lenders across the state. For more information on the program, call the authority at 800-NOW-IHFA.