Homes For Heroes is a FREE nationwide program that gives back to the real heroes: Firefighters, EMS, Law Enforcement, Military (Active, Reserve & Veterans), Healthcare Professionals and Teachers. For every real estate transaction, be it the buying or the selling side of the transaction, a percentage of the sale price is sent back to them after closing. If someone is working or retired from any of these careers they qualify to get this when they work with a Homes For Heroes affiliated real estate agent. Read on to see how much heroes can actually get back. It's our way of saying thank you for all that you do!
Calculating The Award Amount
On Oahu, the average check that a hero gets is actually more than the image above stating $5,250*! The amount a hero gets back is .07% of the sale price. To calculate the sale price of $750,000 the equation would be: .007 x $750,000 = $5,250
You can also think of it this way: Take $700 for every 100,000 of the sale price. This takes care of a lot of the closing costs as a seller. For a buyer in this market, you could use this to help pay for lender points to lower your interest rate which in turn lowers your monthly mortgage payment. Then refinance in a year or two with a Homes For Heroes lender and save again!
Why would anyone who qualifies for a Homes For Heroes check not take advantage of it?! Simply because they don't know about it. They are working with a realtor who isn't affiliated with Homes For Heroes, so their realtor isn't sharing this information with them.
My husband is a fireman as well as in the Air Guard. We missed out on a nice thank you check for his service when we bought our home back in 2014 even though this program has been around since 2001. We just didn't know about it. So now that I'm a realtor I'm making it my personal mission to make it more well known here in the islands where real estate and the cost of living is so expensive. Everyone could use an extra few thousand dollars. Why not?!
If you're a hero who is refinancing, work with a lender who is affiliated with Homes For Heroes and you'll save even more.
The first thing most people ask is, "do I really qualify for this? What's the catch?". There's no catch. Just work with a Homes For Heroes specialist. If you're a hero who is refinancing, work with a lender who is affiliated with Homes For Heroes and you'll save even more. Just ask your Homes For Heroes agent to refer you to a HFH lender. Here's the list of everyone who automatically qualifies to work with a Homes For Heroes agent:
There needs to be more awareness of this program in our local community. Most people are doing real estate transactions and leaving thousands of dollars behind. Help me spread the word by sharing this post with all the heroes you know. This program is nationwide!
If you're a Hero looking to buy or sell real estate soon or in the future, visit http://MarinaForHeroes.com. Even if you aren't ready to transact right now, I would suggest getting into the Homes for Heroes database now so that you're set to get your rewards when it's go time. I mean, its free so why not?
*Savings is an estimated amount based on Oahu's Median Price as of October 2022. Information sourced from the Honolulu Board of Realtors.
Marina Yamamoto (RS) RS-85659
Homes For Heroes Specialist
Brokered by eXp Realty
500 Ala Moana Blvd., #7-400
Honolulu, Hi 96813