Neighborhood Champions

[pineda]

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Mortgage group partners with local builders to support "Neighborhood Champions" program

By Amanda Waters , 1960 Sun, Managing Editor 10/20/2004

Owning a home is a dream for many people, but one that can seem just out of reach. Prestige Mortgage Group has partnered with Mint Homes and Target Homes to help that dream become reality for those people who Prestige believes are true champions.

Through the Neighborhood Champions program, individuals in the medical, education, police and firefighting fields can easily qualify for up to 100 percent financing toward a new home at a surprisingly low interest rate, said senior loan officer Jose McDonald. And because of the builder involvement, these individuals can buy that home with only $1,000.

McDonald said that Prestige has targeted police officers, fire fighters, medical workers and educators because these are the people who really make the community. He also said that he's able to get the low interest rates - as low as 5.3 and 5.6 percent - because studies have shown that individuals with these jobs tend to be more stable and low-risk. In addition, McDonald noted, builders are more willing and able than your average seller to give more toward closing costs and down payments, making the $1,000 move-in possible.

"[Jose] really has a heart to help the community," said Rod Castle, marketing executive with Prestige Mortgage Group. "He's been able to identify that the teachers, the health care workers, the firemen and police are the backbone of our community, but don't always make a lot of money."

Rufi Natarajan, vice president of Mint Homes, pointed out that many people can make a monthly payment, but where they get stumped is on the down payment and closing costs.

"It's the American dream to own your own home, and I think it's great if any builder assists with that," Natarajan said. "And it's also good because you have committed homeowners and you keep up the value of your neighborhoods."

Tim Verinder with Prestige noted that the program is not just for teachers, EMTs, police officers and fire fighters, but for those employees that support those individuals, such as school custodians, cafeteria workers, dental assistants, medical office receptionists, college professors and other support staff in these fields.

McDonald also works closely with first-time Spanish-speaking homebuyers, and noted that many Hispanic residents don't realize all they need is a work permit or visa to buy a home.

"I've worked with bi-lingual teachers who thought they couldn't buy a house because they just have a visa, but that's fine," he said.

Veridner also noted that McDonald goes through the entire buying process with the homebuyers.

"And that's really key," he said. "It's a hand-holding that's needed in this industry, especially when you're talking about first-time homebuyers."

The bottom line, McDonald said, is that people don't realize how easy it is to buy a home; and what he's trying to do is just make it a little easier for those people who really serve the community.

"We're just a local mortgage company who wants to be involved with local people," McDonald said.

For more information about the Neighborhood Champions home loan program, call Prestige Mortgage at 281-444-4520.

[Talbot]

That's really nice. It's good to see people actually trying to help others.