Photographer: Daniel Acker/Bloomberg
In honor of members of the military, and with Veterans Day this week, the Jacksonville, Fla.-based VyStar Credit Union announced the launch of a new lending program with a variety of benefits, payment and closing options targeted to members who serve, care for and protect our country.
On Thursday, VyStar ($11.4 billion in assets, 793,169 members) launched its Military Heroes Mortgage Program, which was developed in partnership with VyStar members who are veterans.
According to details of the program from the credit union, qualified members include active-duty military personnel, veterans and surviving spouses. Those members can apply to receive the following perks:
- No down payment or mortgage insurance required.
- Up to $5,000 toward closing costs, or a rate discount of 0.25%.
- Up to a $10,000 grant to be used toward a down payment and/or closing costs.
- Discounts up to $7,500 available from many national and local retailers.
"Since our founding at Naval Air Station JAX in 1952, supporting our military members and their families has been at the core of what we do," VyStar SVP of Real Estate Lending Jennifer Kouchis said. "We understand the unique challenges our troops face when purchasing a home, and the Military Heroes Mortgage Program is designed to make the process more efficient and more affordable."
VyStar also launched a new website featuring the military lending program that also connects members to a representative.
Additionally, with the launch of the new lending program, VyStar stated that the credit union will be involved in numerous community events in honor of Veterans Day on Thursday. Those events include participating in the Jacksonville Veterans Day Parade, sponsorship of the Salute to Veterans Run and collaborating with the local YMCA for its "Week of Valor."
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