Home Mortgage Loans for Teachers
Teacher Mortgage Programs
Home buying opportunities and refinance programs for teachers.
Our home mortgage loans for teachers provide 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 To Finance Your Home Purchase?
- Down payments as low as $100 through teacher next door program.
- Down payments as low as 3.5% through FHA even for first time home buyers.
- Impressively low mortgage rates.
- Quick and easy processing.
Teacher Home Buying Mortgage Programs
Our home buying programs for teachers range from first time buyer loans to investment property financing. Our mortgage rates are extremely competitive and we are confident that if you “shop around” with other lenders you will see that what we offer you is your best option. In fact we encourage you to speak with as many other lenders as you have time for so that you will be certain that we are providing you superior loan terms.
The program that we recommend for you will largely depend on what your needs and goals are. If you are looking for the lowest down payment available we recommend that you consider the teacher next door program which has $100 down payment programs. If you want to buy a home not eligible for the teacher next door program, we recommend FHA which only requires a 3.5% down payment.
HUD Teacher Next Door Program
Teachers are eligible to apply for the HUD good neighbor next door home buying program. Eligible properties through HUD are offered to teachers, firefighters, police officers, and emergency medical technicians at a substantial discount of 50% of the listed price. 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 through FHA 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 including that you have to live in the home for 36 months or you will be liable for the other 50% of the discounted price. When you purchase the home you are required to sign what is called a “silent second mortgage” which you do not have to pay for any reason unless you sell the home or move for illegitimate reasons.
If you would like to learn more about good neighbor next door, including the requirements, the process, pros and cons of the program, and answers to commonly asked questions, we encourage you to start here where you will find more information.
Teacher Mortgage Refinancing
We also have excellent mortgage refinance programs for teachers if you already own a home and wish to lower your payment, change the amortization or terms of the loan, or take cash out of your equity.