RAPID CITY, S.D. (10/1/12)--Highmark FCU, Rapid City, S.D., is the only lender in western South Dakota approved to provide home loans through Homes for Heroes, a program that provides rebates and discounts for military personnel, police officers, firefighters and registered nurses who are buying or selling a home.
The program is designed to help "real-life heroes" open the door to achieve their dream of home ownership. Some of the overall savings qualified applicants receive through this program include:
- 25% of the gross commission paid to the Homes for Heroes affiliate company, whether the hero buys or sells, or both;
- Discounted financing and closing fees charged by Homes for Heroes lender affiliates; and
- Other real-estate related discounts available in some states.
"On the financing side, there are real dollar savings for qualified heroes," said Joanie Howland, Highmark FCU mortgage lending manager. "Specifically, Highmark FCU provides its Homes for Heroes applicants with free appraisal reports and discounted title closing costs. In addition, there could be savings in the amount of money needed for closing due to down-payment assistance options."