Community Heroes

Our society owes an immense debt of gratitude to those in the Military, Law Enforcement, First Responders (Fire and EMS), Educators, and Medical Professionals. Thank you for your service, dedication and sacrifice in ensuring our safety, security and education.

Your unwavering commitment upholds our core values and freedoms is worthy of fantastic recognition and honor. Wasatch Equity Group recognizes how much you sacrifice - time, talent, health, sanity and so much more! Just as you serve with distinction every day, it is our privilige to give back, supporting and honoring you and your families by helping you find the home of your dreams, along with a direct financial contribution. The typical Hero Rebate we offer ranges from $1500-4500 (sometimes more)*.

FAQ's

What is the Community Hero Program? Heroes play such a critical role in our community and to express my appreciation, I designed this program to help heroes increase home ownership!  My wife is a teacher and I come from a long line of military, law enforcement and even firefighters. This has instilled in me a deep appreciation for the folks who sacrifice so much every day in such critical roles for our community. Therefore, this program helps with your home loan and home buying process. First, we match you with all available community programs and government programs, then we supplementing those programs with additional funds by rebating a significant portion of the buyer agent commissions back to you. Our team will handle all of the purchase, finance and even closing paperwork for you. 

What programs are available?  Some of the programs available include well know ones like VA Loans, HUD Good Neighbor Program, Utah Housing Corp Program, USDA Rural Program and FHA, Fannie Mae and Freddie Mac programs. We then issue free, non-taxable grants to you to make those offers even better!

Does your grant rebate need to be repaid?  NO. Our community Hero Grants are a gift in appreciation of your service. They come with no obligations or strings attached and are applied to your closing costs or to buy down your rate when you close on your new home. In addition to our grants, there are other programs that may aid in reducing your payment such as 2nd mortgage down payment programs that do need to be repaid. There are also other grants you may qualify for requiring that you meet certain conditions or criteria, such as remaining in the home for a certain period of time, otherwise they would need to be repaid. We will ensure you understand all the programs you qualify for and help you in choosing the best programs for your family. Regardless of what other finance and grant programs you receive, the grant we rebate to you never needs to be repaid.

Do you offer down payment assistance ?  YES.  We partner with Utah Housing as well as other programs such as Home Plus, Chenoa and Unison, just to name a few. Your Mortgage Loan Officer is trained in all of the various programs and will explain your eligibility. Programs are each structured differently and eligibility varies.

Do I HAVE to use your lender ?  NO. We will work with any lender for the Hero Rebate Program. However, our lending partners typically offer lower rates and are very familiar with the various programs available to our community heroes. To ensure you receive the best financing possible, we welcome you to compare our partner lenders with any other lenders available. 

Who qualifies as a Community Hero?  Any and all people who are active or retired military, official law enforcement, first responders (Fire/EMS) and Educators. Contact us with questions!

Can I only buy certain homes?  NO.  You may purchase ANY home on the market, in ANY neighborhood, as long as it is within the guidelines of your loan approval.  

Is there an charge or application fee? NO. There are no costs associated with participation in this program

Do I have to live in the home for a certain period of time?  For our program, NO. Other programs we may help you qualify for may have certain restrictions (VA, HUD, FHA, Utah Housing, etc.).

Will you pull my credit?   NO. We do not pull your credit to qualify you for this program. However, our lenders or your chosen lender will have to pull credit to get you approved for any applicable loans. We can discuss our grant and determine other grands and programs for which you may qualify, without involving a hard pull of your credit. 

Do I HAVE to be a First Time Home Buyer? NO. If you own a home you may still take advantage of Community Hero Program. What’s more, unlike other programs, you may even qualify for a rebate on a second, vacation or even other investment homes; some limited restrictions apply. 

Can I buy with NO Money Down? YES. Our grant may qualify as a down payment and there are several other programs (Utah Housing, VA) that require zero down. If a zero down loan is not available, the typical minimum out of pocket expense is approximately 2.5-5% of the purchase price of the home. This typically includes down payment and other fees such as insurance, appraisal etc. This may come in the form of a gift or 401(k) disbursement. Your Loan Officer can explain additional options.

Can I put more money down if I choose? YES. You may put down any amount you like. If you put 20% or more down, you will typically be able to avoid PMI and you could qualify for a lower interest rate. 

Are there any income restrictions? NO. However, you must make enough to cover the payment. Also, some local down payment assistance programs like Utah Housing may have a maximum income you may earn in order to qualify.

Can I use the program to refinance?  Our rebate is paid to you from payments we receive when transacting a new home purchase; therefore, we do not have any funds to issue a rebate from a refinance; however, we do have some lender partners who have agreed to rebate a portion of the closing costs to our heroes. Our lending partners offer refinance programs for cash out, debt consolidation, term reduction, payment reduction or PMI removal and the terms are typically lower than lending terms with other lenders.

What is the maximum loan amount?  There is no maximum loan amount. Several loan programs like FHA and loans backed by most government programs limit how much may be rebated. Additionally, The IRS does place restrictions capping the amount of our rebate for homes over $650,000; either way, we will help you select the best loan and program for your individual situation, including our Hero rebate as well as all other options and programs for which you may qualify.

Is Wasatch Equity Group – Kelly Right Real Estate a mortgage lender? NO.  We are not a lender but we are affiliated with Modus Mortgage, NMLS#1028232. See our Affiliated Business Disclosure for details 

What will my interest rate be? Since we are not a lender, we do not set or quote interest rates. Modus Mortgage, or any other recommended partner lenders will provide you the most competitive rate for your loan based upon your individual loan application and loan program. We encourage all our clients to compare Modus' rates with both national and local lenders; in our experience, Modus typically offers rates that are incredibibly competitive.

Is your Community Hero Program a government sponsored program?  NO. This program is an exclusive and independent program offered by Wasatch Equity Group, LLC, approved by Kelly Right Real Estate.

Is this program available anywhere else?  No. This is a private program not offered anywhere else. There may be similar programs elsewhere, but because we are not affiliated with massive national programs our overhead is much lower, meaning we rebate 100% of the program feeds back to you. There are other “Hero” programs out there, but they typically keep 20-30% of the rebate proceeds for operating and marketing expenses.

What if I already have an Agent?  Unfortunately, only affiliated agents quality. You may keep your agent, or your agent may contact us to become a partner; however, this program rebate cannot be extended to those using an agent who is unaffiliated with our program. 

*Because several government lenders and loan programs limit or restrict the amount that can be given back, the dollar amount of our Hero Rebate varies based on multiple factors. The most common include which type financing and/or loan program you are using (such as FHA, VA, Utah Housing), existing grant and seller concessions, lender selected, and more. One thing we can promise, our expert lending partners will assess all resources available and ensure you receive the best grant and loan options available for your unique situation and qualification. Based on these various factors, our Hero Rebate varies. The typical amount ranges between $1500-4500. The good news is that because we are a local program, we can offer more than national programs who keep 20-30% of the rebate amount to manage, market and operate their programs, while we have zero hard costs and overhead implementing and administering our program.