VyStar Credit Union's Innovative Approach to Address Housing Crisis for Everyday Heroes
In a significant move to combat the housing affordability crisis impacting many families in the Southeast, VyStar Credit Union has announced the expansion of its Everyday Heroes Mortgage Program. This initiative is aimed specifically at supporting community champions—individuals who dedicate their lives to serving others—by providing them with improved pathways to homeownership.
Recent reports have shown that cities such as Atlanta, Jacksonville, and Orlando are among the most financially distressed areas in the nation. Many families in Atlanta are grappling with savings challenges and increased living expenses, making it increasingly difficult for them to qualify for a mortgage.
Similarly, in Jacksonville, the housing market has experienced a sharp increase in prices, pushing average-income families out of the opportunity to buy homes in Duval County. Orlando, known for its tourism and family attractions, continues to face one of the worst shortages of affordable housing in the country, exacerbated by rising inflation and property insurance costs.
Recognizing these issues, Jason Sorochinsky, VyStar's Senior Vice President of Real Estate Lending, emphasized the importance of enabling hardworking community members to achieve their homeownership dreams. He stated, "Hardworking men and women who serve our communities deserve the opportunity to achieve the dream of homeownership. We're removing barriers that have stood in their way because putting our members first and doing good in the communities we serve is what VyStar is all about."
The Everyday Heroes Mortgage Program’s generous benefits for eligible first-time homebuyers include:
Eligibility for this program extends to first-time homebuyers based in Florida and Georgia who work in certain critical professions that contribute significantly to their communities. These professions include fire service personnel, emergency medical technicians (EMTs), nurses, law enforcement officers, educators, veterinarians, and medical professionals like dentists and doctors.
To further assist members on their journey to homeownership, VyStar will provide a range of virtual resources, including webinars and educational materials, coupled with partnerships with local real estate agents. These resources aim to empower members with the knowledge and support they need, making the homebuying process less daunting and more accessible.
In addition to financial support, VyStar recognizes and celebrates Everyday Heroes through various initiatives, including community spotlight events, prizes, and acknowledgment activities that promote community pride and appreciation for their hard work and contributions.
To learn more about the Everyday Heroes Mortgage Program, interested members can visit the VyStar Credit Union website or call their customer service.
About VyStar Credit Union:
Founded on the principles of community and service, VyStar Credit Union stands as Florida's second-largest credit union, boasting 78 full-service branches across Florida and Georgia, serving 1 million members. With assets exceeding $14 billion, VyStar has emerged as a major employer within its operating regions, employing more than 2,300 individuals. The credit union is committed to providing quality financial solutions tailored to improve the lives of its members while simultaneously fostering a sense of community.
For further inquiries or information about available services, visit their official website at vystarcu.org and connect with them on social media platforms like Facebook, Instagram, Twitter, and LinkedIn.
Recent reports have shown that cities such as Atlanta, Jacksonville, and Orlando are among the most financially distressed areas in the nation. Many families in Atlanta are grappling with savings challenges and increased living expenses, making it increasingly difficult for them to qualify for a mortgage.
Similarly, in Jacksonville, the housing market has experienced a sharp increase in prices, pushing average-income families out of the opportunity to buy homes in Duval County. Orlando, known for its tourism and family attractions, continues to face one of the worst shortages of affordable housing in the country, exacerbated by rising inflation and property insurance costs.
Recognizing these issues, Jason Sorochinsky, VyStar's Senior Vice President of Real Estate Lending, emphasized the importance of enabling hardworking community members to achieve their homeownership dreams. He stated, "Hardworking men and women who serve our communities deserve the opportunity to achieve the dream of homeownership. We're removing barriers that have stood in their way because putting our members first and doing good in the communities we serve is what VyStar is all about."
The Everyday Heroes Mortgage Program’s generous benefits for eligible first-time homebuyers include:
- - No down payment requirement.
- - Up to 100% financing available for loans as high as $1.2 million.
- - Waiver of private mortgage insurance (PMI).
- - An exemption from the intangible tax for Florida residents, providing average savings of about $800 in closing costs.
- - Loan servicing retained by VyStar for the entire term of the loan, ensuring members continue to receive superb customer service.
Eligibility for this program extends to first-time homebuyers based in Florida and Georgia who work in certain critical professions that contribute significantly to their communities. These professions include fire service personnel, emergency medical technicians (EMTs), nurses, law enforcement officers, educators, veterinarians, and medical professionals like dentists and doctors.
To further assist members on their journey to homeownership, VyStar will provide a range of virtual resources, including webinars and educational materials, coupled with partnerships with local real estate agents. These resources aim to empower members with the knowledge and support they need, making the homebuying process less daunting and more accessible.
In addition to financial support, VyStar recognizes and celebrates Everyday Heroes through various initiatives, including community spotlight events, prizes, and acknowledgment activities that promote community pride and appreciation for their hard work and contributions.
To learn more about the Everyday Heroes Mortgage Program, interested members can visit the VyStar Credit Union website or call their customer service.
About VyStar Credit Union:
Founded on the principles of community and service, VyStar Credit Union stands as Florida's second-largest credit union, boasting 78 full-service branches across Florida and Georgia, serving 1 million members. With assets exceeding $14 billion, VyStar has emerged as a major employer within its operating regions, employing more than 2,300 individuals. The credit union is committed to providing quality financial solutions tailored to improve the lives of its members while simultaneously fostering a sense of community.
For further inquiries or information about available services, visit their official website at vystarcu.org and connect with them on social media platforms like Facebook, Instagram, Twitter, and LinkedIn.
Topics Financial Services & Investing）
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