Helpful Resources
Credits & Programs
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Oregon: Oregon Heroes Program
If you’re a first responder, teacher, administrator, administrative support staff, nurse, doctor, military veteran, or active duty – the Loans for Oregon Heroes program has an excellent way for you to finally buy that dream home. At Strategic Mortgage Solutions, we can’t quite find the words to adequately express our gratitude for all you do. We can, however, help you save money when buying a home with the Loans for Oregon Heroes Program.
When you choose to buy a house through the Loans for Oregon Heroes Program, you will save time, money, and work with local experts to ensure an excellent lending experience.
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California: CalHERO Home Loan Program
- Proof of Income – Find and make copies of your pay stubs.
- Tax Information – Gather your W-2s, 1099s, and tax returns for the last 2 years. If you’re self-employed or an independent contractor, you’ll be required to provide your 1099-MISC information.
- Credit Details – We’ll perform a credit check when you apply.
- Debt Documentation – You’ll be required to provide documentation on your outstanding financial commitments. Gather materials on your current mortgage, car loans, student loans and any other debts.
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Federal: Available Grants
- Form 1003 — The residential loan application — including the attached Fair Lending notice, loan info sheet, and credit authorization. Note: Do not use whiteout on this paperwork. Mistakes should be crossed out and initialed.
- Copies of W-2s or tax returns for the previous 2 years.
- If you own rental units, provide the most recent rental agreement and tax returns for previous 2 years.
- Your last 3 bank statements along with the most recent statements for any mutual funds, IRA/401(k), or stock accounts.
- Settlement agreement and divorce decree (if applicable).
- Letter explaining how you plan to utilize refinance proceeds if you’re seeking a cash-out refinance.
- Non-U.S. citizens must present their Green Card or H-1 or L-1 visa.
- If you’ve filed for bankruptcy, present a schedule of creditors, discharge notice, and filing.
- If you’re applying for a second loan, include the first mortgage note.
These documents may not be all-inclusive, but by having these on hand, you will expedite the application.
First Responder HOME LOAN
Frequently Asked Questions
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Pre-qualified or pre-approved — what’s the difference?
Pre-qualification is a determination of the loan amount you’re likely to receive. It is not a guarantee of approval. To obtain pre-qualification, you usually are interviewed by a licensed loan officer who determines the pre-qualification amount. You will be issued a letter with this information that you can present when making an offer on a home. It’s important to understand that pre-qualification does not imply any obligation from the lender that you will be approved.
Pre-approval is more thorough than pre-qualification. To be pre-approved, you must submit an application and verify your credit and financial history. After you receive your pre-approval certificate, you’re in a stronger position to close earlier and negotiate a better price. It’s highly recommended that you seek pre-approval if you are shopping for a home.
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What will be considered in the loan process?
- Proof of Income – Find and make copies of your pay stubs.
- Tax Information – Gather your W-2s, 1099s, and tax returns for the last 2 years. If you’re self-employed or an independent contractor, you’ll be required to provide your 1099-MISC information.
- Credit Details – We’ll perform a credit check when you apply.
- Debt Documentation – You’ll be required to provide documentation on your outstanding financial commitments. Gather materials on your current mortgage, car loans, student loans and any other debts.
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What documentation will I need to provide in order to get my loan approved?
- Form 1003 — The residential loan application — including the attached Fair Lending notice, loan info sheet, and credit authorization. Note: Do not use whiteout on this paperwork. Mistakes should be crossed out and initialed.
- Copies of W-2s or tax returns for the previous 2 years.
- If you own rental units, provide the most recent rental agreement and tax returns for previous 2 years.
- Your last 3 bank statements along with the most recent statements for any mutual funds, IRA/401(k), or stock accounts.
- Settlement agreement and divorce decree (if applicable).
- Letter explaining how you plan to utilize refinance proceeds if you’re seeking a cash-out refinance.
- Non-U.S. citizens must present their Green Card or H-1 or L-1 visa.
- If you’ve filed for bankruptcy, present a schedule of creditors, discharge notice, and filing.
- If you’re applying for a second loan, include the first mortgage note.
These documents may not be all-inclusive, but by having these on hand, you will expedite the application.
