What you need to know about the

Helper Act

FHA Loan for First-Time Buyers

A special FHA loan option tailored for first-time homebuyers.

Eligibility for Heroes

Available to police, firefighters, EMTs, paramedics, and preK-12 teachers.

No Monthly Mortgage Insurance

Enjoy the benefit of no monthly mortgage insurance payments.

Zero Down Payment

Achieve homeownership with no down payment required.

One-Time Insurance Premium

You pay a one-time, upfront mortgage insurance premium.

Affordable Homeownership

Makes homeownership more affordable for our hometown heroes

More details

What is the HELPER Act?

The HELPER Act Mortgage stands out as an innovative program tailored for first-time home buyers who are teachers, firefighters, and law enforcement officers. This initiative aims to ease the financial burden by waiving down payment and mortgage insurance requirements. As of today, this bipartisan bill is still pending approval in Congress.

Eligibility Criteria for the HELPER Act

To qualify for the HELPER Act mortgage, applicants must meet the following requirements:

Professional Requirements:

  • Full-time employment as a K-12 educator, firefighter, law enforcement officer, paramedic, or emergency medical technician (EMT) with federal, state, Tribal, or local government.
  • At least four years of service in the last five years in a qualifying job.

Employment Standing:

  • Must be in good standing with their employer.
  • Must have a plan to continue employment for at least the next 12 months.

Property Requirements:

  • The property must be a 1-unit primary residence.
  • Vacation homes and rental properties are ineligible.

First-Time Home Buyer Criteria:

  • Must be a first-time home buyer, defined as not owning a home in the past three years.

Loan Specifics:

  • Must be utilizing the HELPER Act mortgage for the first time.
  • Must meet basic FHA loan eligibility requirements.

Notably, the HELPER Act does not require a special mortgage application process. Eligible teachers and first responders are automatically considered for the HELPER Act mortgage by their FHA-approved lender at the time of application, streamlining the process for these dedicated professionals.

History and Legislative Journey
The HELPER Act was first introduced on May 13, 2021, as an amendment to the National Housing Act, the foundational legislation for the U.S. mortgage insurance system. The bill saw renewed efforts with further amendments on May 10, 2023, reflecting ongoing bipartisan support and modifications aimed at enhancing its effectiveness.

This innovative program holds significant promise for eligible first-time home buyers, potentially transforming the home-buying process for local protectors, educators, and responders across the nation.

Contact Us to Learn More

Ready to learn how the Helper Act can make homeownership a reality for you? Contact your local My City Lending loan officer today to get all the details and start your journey toward owning a home!

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