Marine vet fights for affordable housing for local heroes

This week onWarrior Money, hosts Patrick Murphy and Dan Kunze speak with Marine veteran Samuel P. Royer, chief production officer at Salute Home Loans and a key advocate for The HELPER Act, a bill aimed at making homeownership more affordable for first responders, educators, and law enforcement officers. Royer, a 28-year mortgage industry veteran, saw too many public servants struggle to buy homes despite strong credit and steady jobs. “I had a teacher in St. John’s County… putting $60,000 down, no debt, very high credit score, but she couldn’t afford a house,” he recalls. He also helped a firefighter whose father had to co-sign his mortgage. These experiences inspired The HELPER Act, which would eliminate down payments and monthly mortgage insurance for first-time buyers in these essential professions. “The crazy part about the HELPER Act—just like with a VA and an FHA loan—this is not a subsidy-based program,” Royer explains. “We are not asking the federal government, ‘Hey, can you throw a bunch of money aside?’” Instead, the program would be backed by an FHA insurance fund, which is currently overfunded. Despite bipartisan support, the bill faces hurdles in Congress. “We need all the voices out there to talk about this,” Royer urges. Yahoo Finance's Warrior Money, hosted by former Congressman Patrick Murphy and veteran investor Dan Kunze, is dedicated to uplifting the financial well-being of military veterans transitioning into civilian life. Each week, an array of guests—from everyday vets to high-ranking government officials—offer insight on successfully making the leap from service to business. Thoughts? Questions? Fan mail? Email us at [e-mail].