Some people could now save thousands of dollars on buying or selling a home or refinancing thanks to a new program to South Dakota called Homes for Heroes.
Realtors and mortgage lenders who participate offer discounts to people in certain professions
9-11 was the key motivator for the program Homes for Heroes. A group of Minnesota realtors was looking for a way to honor people who serve their communities after watching the first responders to the terrorist attacks.
"All our armed forces, the nurses, doctors, anybody in the medical field, teachers that put out their hearts to the kids in our community; it's a way for us to give back to those heroes and it's just something we wanted to do for them," Kevin Unzen said.
Unzen of Frost Mortgage will offer discounts of up to $500 on closings costs of a home. Local realtors taking part in the program will rebate 25 percent of their gross commission back to the "community hero."
"[It's] definitely a savings for people looking to buy a house, sell a house, refinancing their home. They could get discounts through all of those transactions," Unzen said.
Unzen is hoping he can convince a title company, insurers and even home inspectors to also offer discounts to our unsung "heroes."
"It might even open the door for more people to purchase homes. It might be an incentive for them to buy a house with an extra discount, or an incentive to sell. Of course the refinancing part too, anytime you can get some fees knocked off that's going to help in the transaction as well; make it worth while," Unzen said.
Only select realtors in the state are taking part in the program and one other lender in Sioux Falls. Homes for Heroes is now available in 43 states.