Home Loans for Paramedics and EMTs

Home Loans for Paramedics and EMTs

Table of contents

Emergency medical service (EMS) personnel, such as paramedics and emergency medical technicians (EMT), selflessly give their service to protect and take care of their community every day. Unfortunately, homeownership is often just out of reach despite the vital role they play. However, thanks to special EMS mortgages and mortgage loans for paramedics, many first responders can achieve the dream of homeownership.

Key takeaways

  • EMTs assess patients and provide basic health procedures with 170 hours of education.
  • Paramedics are licensed pre-hospital service providers with up to 2 years of college degree and 1,000 to 2,000 hours of training.
  • EMTs and paramedics face home buying challenges due to low wages despite providing life-saving services to the community.
  • First responders can access various home mortgage programs, including Hero Home Programs, FHA loans, HUD good neighbor next door, and Firefighter Next Door First Time Home Buyer Program.

Difference between paramedics and EMTs

When it comes to EMS personnel, there are different levels of certification. These certification differences affect the level of care that responders can provide to community members. To better understand the differences, we look at both paramedics and EMTs.

Emergency Medical Technicians (EMTs)

The role of an EMT is to assess a patient and determine if there are any life-threatening injuries or illnesses. Their treatment options focus on basic health procedures, such as CPR, oxygen administration, stabilizing and splinting injuries, or administering epinephrine for an allergic reaction. To become an EMT, you do not need a college degree but rather complete an EMT training program requiring at least 170 hours of education.

Paramedics (PM)

Paramedics are licensed, pre-hospital service providers providing many of the same medical treatments that emergency room staff can. This can include administering medications, starting IV lines, providing airway management, EKG administration and interpretation, and much more. Paramedic training is a college degree program that can take up to two years and include 1,000 to 2,000 hours of training to complete. In many cases, these programs require a college-level anatomy and physiology course before acceptance.

Home buying challenges for first responders

Despite providing life-saving services to the community, wages for EMTs and paramedics often keep homeownership out of reach. According to a 2021 EMS1 survey, more than half of EMS personnel work more than one job. This is despite 63% working more than 50 hours a week and 21% working more than 70 hours a week.

In addition to the mental and physical stress of the job, the inability to make a living wage often leads to burnout. Unfortunately, it usually keeps many EMS personnel from owning their own home.

Paramedic sitting in ambulance

Home loan programs for EMS providers

The good news is there are many different home mortgage programs available for first responders, including EMTs and paramedics. These programs offer everything from down-payment assistance to reduced fees and grants to help with the down payment.

Here we take a closer look at some of the available assistance options.

Hero Home Programs – First Responder Home Loans

Hero Home Programs and their First Responder Home Loans is a comprehensive program that works with first responders to find all the possible home assistance programs they are eligible for. They research all the possible programs available to you, including down payment assistance, low-cost mortgages, and federal and local grants that are often available for first responders. Once they locate all available options, they also work with you to find the best financing options that complement the additional benefits, making your home buying and financing process much easier, with less work for you to do.

Advantages

  • Research is done for you, meaning less work for you
  • Credit on closing
  • Additional vendor discounts
  • They find all available rebates and grants
  • Low-rate mortgage loans
  • Maximum savings

Eligibility
The Hero Home Program is open to all EMS personnel and first responders.

FHA loans

A Federal Housing Administration (FHA) loan is insured by the Federal Housing Administration and offered by approved lenders. These loans only require a 3.5% down payment and are designed for low to moderate-income earners.

Advantages

  • Small down payments
  • Flexible qualifications, with the main requirements being good work. and credit history
  • Acceptance of lower credit scores

Disadvantages

  • Upfront Funding Fee: This is a fee of 1.75% of the total amount financed. This fee can be paid upfront or rolled into your monthly mortgage payment.
  • Mortgage Insurance Premiums (MIP): MIPs are required for the life of all FHA loans.
    It will cost more over the life of the loan.

Eligibility
To qualify for an FHA loan, you must have a verifiable employment history, a credit score between 500-579 for a 10% down payment or over 580 for a 3.5% down payment, and have the home appraised by an FHA-approved appraiser.

HUD good neighbor next door

The Good Neighbor Next Door program is offered by the Department of Housing and Urban Development (HUD). This program provides homes to first responders at 50% off the listing price. This means if you find a home for $200,000, you will pay monthly mortgage payments of just $100,000. This only applies to select homes in revitalized communities.

Advantages

  • Purchase a home for half the asking price

Disadvantages

  • Limited selection of homes available for the program
  • If multiple people apply for the same home, the applicant chosen is determined by a randomized lottery
  • Must stay in the home for a minimum of 3 years

Eligibility
You must be employed full-time as a firefighter, EMT, paramedic, or law enforcement officer with a fire department, EMS unit, or law enforcement agency.

Firefighter Next Door® First Home Buyer Program

If you are a first-time homebuyer or have not owned a home in the past three years, you are eligible for the Firefighter Next Door First Time Home Buyer Program. With this program, you can purchase any home on the market, and you may also be eligible for the Firefighter Next Door Grant and additional down payment assistance.

Advantages

  • No application fees or up-front costs
  • Easy application process
  • Low down payment options
  • Grants up to $8,000
  • Down payment assistance up to $10,681.00
  • Preferred interest rates
  • Free appraisal
  • Free homebuyer representation
  • Discount title fees

Eligibility
The Firefighter Next Door First Time Home Buyer Program is open to all firefighters and first responders, including EMTs and paramedics.

Home buying made easier with Hero Home Programs

As you can see, there are many potential programs available to help first responders achieve their dream of homeownership. At Hero Home Programs, we want to help all those who serve our community, including EMTs and paramedics, navigate the home buying process and find all the possible assistance they can to help achieve their goal of owning a home.

Contact us online to learn more about how we can help you move into your new home for as little as possible.

Picture of Jacquelyn Sublett
Jacquelyn Sublett

I love teaching and writing on real estate, finance and mortgage topics. I find it fulfilling hearing stories of first time home buyers who we have helped with the home buying process. Writer for the Hero Homebuyer Programs™

Connect with the Author:

Recommended Posts

What Our Buyers Think

Jules S.
Read More
"5 star service is what you will get when you work with him!ᅠ Not only does he know his product like no other, he makes a special point of communicating throughout each transaction and his follow up skills are unparalleled. Perhaps most importantly, he delivers on his promises!ᅠ Give him a try for your mortgage needs.ᅠ You will not be disappointed!"
Jeremy H.
Read More
"An outstanding job handling refinances.  One of those knowledgeable, straight-shooters - which is really appreciated when you're shopping for a home loan. He can answer a million of questions with ease.  Looking back at the responsiveness, he was outstanding and you can do everything he suggested."
Jaina D.
Read More
"You can rely on them, very professional and quick in responding to your queries. He is very friendly and makes sure we understand the process and keeps us posted on the status of our loan. His efforts are greatly appreciated."
Eshawn W.
Read More
“By far the best lender we’ve worked with. Got us the best loan amount than any other lender. He worked with us hand in hand, he is professional, and he made the process enjoyable.”
Jaina D.
Read More
"You can rely on them, very professional and quick in responding to your queries. He is very friendly and makes sure we understand the process and keeps us posted on the status of our loan. His efforts are greatly appreciated."
Cass Z.
Read More
“I called looking for information about the process of applying for a mortgage/refinance and am just blown away with how helpful the information I received was!”
Stephanie F.
Read More
“I have hope because of you for making my home ownership dream come true. I feel such a connection with you and am excited to work with you. Have an amazing day!”
Rachel S.
Read More
"Highly ethical, attentive and helpful! A fantastic combination of personable and hard working. He makes everyone feel important and understood."
Cliff S.
Read More
“Hands down the best mortgage professional I’ve worked with in 20 years. Knowledgeable, honest, reliable and above all an outstanding communicator.”
Jose A.
Read More
"He worked on getting the lowest rate and kept me informed on each step of the process from the beginning to closing. Thank You!"
Nicholas H.
Read More
“Thank you for your prompt help and AMAZING assistance. Hands down, best lender I have ever worked with. Top notch!”
Tiffany
Read More
“I would be 100% interested in working more with you! You have proven to be an amazing lender”
Sandy C.
Read More
“Absolutely the most knowledgeable, friendly and honest expert I’ve ever worked with!”
Steve R.
Read More
"A pleasure to work with. He was very prompt and courteous with his responses and genuinely cares about the clients he works with."
Kevin H.
Read More
"Professional, responsive and honest assistance with the whole refinancing process from beginning to end."
Previous
Next

We help you reach home ownership.

No catch. No hidden fees.

Have you served in the military or your community as a healthcare provider, teacher, or first responder? Are you a member of your local union or work for your city government?

Are you looking to buy a home but don’t know where to start when it comes to finding your best home financing options?

At Hero Home Programs™, our teams are dedicated to helping community heroes like you through the home purchasing process by finding the best grants, rebates, and loans in your area in order to maximize your savings and help you achieve homeownership.

Contact our team today to learn how we can and mortgages can change your life.

Resource Guides

Complete A to Z guides on your home purchase journey.

Learn about the process for getting a home loan

What steps you can take to improve your credit score

Tips and tricks for moving into your new home

Your step-by-step guide for buying a new home

Scroll to Top