4 types of mortgage deals that will save you money if you have the right job

'Live Where You Work' programs
'Live Where You Work' programs | Hero Images/Getty Images

'Live Where You Work' programs

This is a strategy for getting a better mortgage deal and a shorter commute.

"Live Where You Work" programs are available in specific locations all over the country, says JoAnne Poole, Realtor and office manager for Berkshire Hathaway Homesale Realty, and incoming regional vice president of the National Association of Realtors.

Sometimes the programs are linked to a particular employer -- often a municipality, university, or medical center, she says. They can be called employee assistance programs, she adds.

But with some of the initiatives, you need only have a job in the participating area.

Individually run, the assistance they offer and the rules to qualify vary widely, Poole says. They may offer down payment assistance or help with closing costs, she says.

What you might not know: Often you can combine the benefits from "Live Where You Work" or employee assistance with other initiatives like "Good Neighbor Next Door," she says. "You don't have to pick one."

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