End of Watch Loan Protection is a special debt-cancellation benefit created exclusively for active police officers, firefighters, and EMTs. It is available for multiple loans taken through Police Mortgage and its parent company, National Police FCU, at no cost to the borrower. End of Watch Loan Protection cancels the outstanding loan balances for eligible active first responders upon their line-of-duty deaths up to a combined maximum of $850,000 for all of the qualifying loans with Police Mortgage and the National Police FCU.
So, you read that correctly. We’re now welcoming firefighters into End-of-Watch. We, of course, continue to offer the program to all eligible active police officers as well.
What may set Police Mortgage apart from just any patrolman credit union or other mortgage providers, is that we offer End of Watch Loan Protection free of charge. We pay for it. It attaches to the loan at closing. There’s one disclosure to sign. There is no physical. There’s no blood work.
End of Watch Loan Protection is not an insurance policy. It is a debt-cancellation guarantee in the event of a line-of-duty death up to $850,000 in aggregate loans with Police Mortgage and our parent company, National Police FCU. In other words, your police home loan would be forgiven.
This really hits home with most young couples where one spouse is a first responder. If you are a police officer and you’re on the street I know you don’t want to think about it, but if something happens to you this could help your family tremendously.
Think of End of Watch Loan Protection as a gift from Police Mortgage and the National Police FCU to say, “Thank you” for what you’re doing out there. While there are competitors who offer similar coverage, the coverage is usually not as much as we offer.
So, let’s say you are an active police officer. You have a $300,000 home loan for police with Police Mortgage as well as a $25,000 auto loan and a credit card with a balance of $5,000 both with the National Police FCU. If the unthinkable happens and you are killed in the line of duty, the End of Watch Loan Protection will wipe that $330,000 debt clean.
This just adds value to any life insurance policy because now instead of using that life insurance to cancel out debt, those are additional funds your family can use to recover since the mortgage has gone to $0. That can provide real peace-of-mind for the surviving spouse.
I think that is very powerful. We understand the risks that the police officers and firefighters take. This is a way Police Mortgage may be able to provide a little comfort at home.
Police Mortgage specializes in conventional mortgages, purchase money transactions, FHA loans, and VA loans. Led by founder and CEO John Aretos, Police Mortgage is known and respected for providing clients with exceptional service, customized terms, quick and easy closings, and low money down options. To learn more about Police Mortgage, call 312-499-8878.
Police Mortgage for First Responders Who Are Second to None.
