Home Loans for Teachers – Mortgage Programs for Teachers
Teacher Mortgage Programs
Home buying opportunities and refinance programs for teachers.
Our home mortgage loans for teachers provide some of the most competitive mortgage terms and rates a teacher could find. We also offer priority underwriting for teachers so your loan is processed and closed fast. Some loans close in as little as tens days from the date of origination! We will try to process your loan with minimal requirements and documentation in order to expedite the process as much as possible.
Why Choose Us For Your Home Mortgage Loan?
- Impressively low mortgage rates.
- Quick and easy processing.
- Discounted closing costs.
- Down payments as low as $100 through teacher next door program.
- Down payments as low as 3.5% through the FHA, including for first time home buyers.
Home Buying Programs for Teachers
Our home buying programs for teachers accommodate to a wide range of needs. This includes excellent options for both first time home buyers and repeat buyers alike. We also offer options for second homes, vacation homes, and investment properties.
All of our home buying programs for teachers offer highly competitive interest rates. In fact, we recommend that you compare us to several other mortgage lenders so that you can see for yourself how much you may save by selecting us for your home loan.
Determining the best home buying program for you will largely depend on what your personal needs and goals are. If you are looking for a low down payment option, you may qualify for a 3% down payment with a conventional or FHA loan. There is also the possibility of finding a home through the HUD Teacher Next Door program, which offers discount homes with only a $100 down payment!
HUD Teacher Next Door Program
Teachers are eligible participants in the HUD good neighbor next door program. This program offers a special home buying opportunity to teachers, firefighters, police officers, and emergency medical technicians. This includes the possibility of purchasing a home at a substantial discount of 50% of the listed sales price. Please keep in mind that only select HUD homes are eligible.
The purpose of Good Neighbor Next Door is to encourage responsible citizens to move into revitalization areas throughout the nation in hopes of helping to improve the community.
Another attractive aspect of the HUD program is that participants who qualify can buy the home using an FHA loan with only a $100 down payment! This means that you will only have to put $100 down, and you will immediately walk into a position of 50% equity in the home! There are some stipulations though, such as that you must live in the home for at least 36 months (which means if you move out, or if you sale the home prior to 36 months, you will owe the full price of the home). When you purchase the home you are required to sign what is called a “silent second mortgage”. How this works, is you will not have to pay anything on this second mortgage unless you sell the home before the 36 month period.
If you would like to learn more about Good Neighbor Next Door, including the requirements, process, and answers to commonly asked questions, we encourage you to start here where you will find more information.
Teacher Mortgage Refinancing
Are you looking to refinance? We also have excellent mortgage refinance programs for teachers.