Episode 13: Homeownership for Heroes - VyStar’s Answer to the Housing Crisis

Episode 13: Homeownership for Heroes - VyStar’s Answer to the Housing Crisis

Featured Guest

Jason Sorochinsky

Jason Sorochinsky serves as Senior Vice President of Real Estate Lending at VyStar Credit Union, overseeing Real Estate Lending & Servicing, CDFI & Impact Lending and the VyStar Title Agency.

With more than 19 years of experience in senior lending roles, Sorochinsky is recognized for driving results in mortgage lending, risk management and technology innovation. He has served on the Freddie Mac Advisory Board for Credit Unions for four years and volunteers as an Angel Flight Mission Pilot and youth sports coach.

Sorochinsky earned a Business Administration/Finance degree from Ithaca College and completed executive programs at Stonier Graduate School of Banking (UPenn) and Harvard Business School Online.

Highlights

  • The Everyday Heroes Mortgage Program from VyStar aims to support first-time homebuyers in Florida and Georgia, specifically helping essential workers overcome barriers to homeownership.

  • VyStar offers 100% financing with no mortgage insurance requirement and loans up to $1.2 million, reducing upfront costs and making monthly payments more manageable.

  • As a credit union, VyStar members can save on the intangible tax during home purchases in Florida, on average saving around $800 per transaction.

  • The program targets “Everyday Heroes” such as nurses, teachers, first responders, firefighters and police officers, helping those who serve their communities.

  • Members are encouraged to get “mortgage ready” by understanding credit scores, debt-to-income ratios and savings requirements. VyStar specialists can help with planning even before you’re ready to buy.

  • The program is designed to build stronger communities, promoting homeownership as a path to pride and stability for families.

  • For members facing financial hardship, VyStar offers various options such as hardship loans, deferment programs and no-payment periods.

  • Proactive communication is emphasized: Members should reach out to VyStar early if they anticipate financial difficulties to access all available support options.

  • VyStar provides a comprehensive online Financial Fitness platform with videos, calculators, and educational tools to help members manage budgets and avoid future financial issues.

Download the audio version of this episode on Buzzsprout.

The content provided in this podcast consists of the opinions and ideas of the creators alone and should be used for informational purposes only. The opinions expressed should not be considered legal, financial, or tax advice, and are not meant to replace such advice. VyStar Credit Union is not responsible for any losses, damages, or liabilities that may arise from decisions you make based on the information provided. The opinions expressed in this podcast are those of the guest and not VyStar Credit Union or its management.