Effective February 15, 2009the interest rate for the Police & Firemen's Retirement System Mortgage Loan Program will be 3.75%.
This program is only available for First Time Home Buyers.
Currently there is approximately $64,000,000 in available funds.
Funds dried up very quickly the last time these moneys were made available, so do not wait to take advantage of this opportunity.
Call me for more information at 609-294-4349.
Karl Peidl
Senior Mortgage Consultant
Superior Mortgage Corp.
I can't believe any retirement system has funds to loan right now. They must be doing good.
Jim - This program isn't funded by the retirement system, it just requires that you contribute in order to qualify. It's funded through tax-exempt bonds.