Community Heroes

You serve our communities. Let us help serve you.

As a police officer, firefighter, teacher, EMT, or paramedic, your local neighborhoods rely on you. At Waterstone Mortgage, we believe your service should be rewarded with a low-down-payment Community Heroes mortgage loan.

While nearly 50% of renters mistakenly believe they need to put 20% or more down on a home purchase,* this typically isn’t true. Whether you’re a first-time homebuyer or a repeat homebuyer, the Community Heroes loan program could be an ideal fit for you.

Program Details:

  • Eligible heroes: police officers, firefighters, teachers, EMTs, or paramedics
  • 1% down payment required
  • 5/1 or 7/1 adjustable rate mortgage
  • First-time homebuyer not required
  • No income limits
  • Primary residence purchase loan
  • 740 minimum FICO required
  • 1-unit properties only
  • Maximum debt-to-income is 41%
  • Maximum loan limit is $484,350**

To compare home loans and find the perfect one for your needs, find a loan originator in your area!


Geographic restrictions apply. *Source: Ellie Mae **Loan limits may be higher in some locations. Contact your loan originator to learn more. All loan requests are subject to credit approval as well as specific loan program requirements and guidelines. With Adjustable Rate Mortgage loans, the rate is variable and may increase or decrease every year after the initial fixed rate period based on changes to an index. This could result in an increase in the monthly payment.