Mortgage Refinance Programs for Teachers
Teacher Mortgage Programs
Home buying programs and mortgage refinancing for teachers.
Teachers may qualify for our special home refinancing programs for teachers. This includes conventional, FHA, VA, HARP, USDA loans and cash out refinancing. If you are simply just looking to refinance to lower your rate and monthly payment we have some fast and easy programs that will reduce your payments quickly. If you want to refinance and take cash out we also have a special program for teachers that will allow eligible participants to take equity out of their homes quickly.
Conventional Loan Refinancing
Conventional refinancing is ideal for educators who owe 80% or less of their homes value. Conventional home loans only require mortgage insurance on loans that exceed 80% financing. If you owe more than 80% you may want to take a close look at and compare conventional and FHA financing. There is a lot to consider when comparing mortgage programs so we strongly recommend that you speak with us so that we can easily and clearly explain what is best for you.
FHA Refinance Programs
The FHA allows what most mortgage professionals consider to be the easiest refinancing programs to qualify for and process. This is especially true if you are already in an FHA loan. The FHA has a streamline refinance loan that is offered to borrowers who are currently in an FHA loan. The program does not require credit or income documentation, nor does it require an appraisal. If you are not in an FHA loan and wish to switch from a conventional loan to FHA loan there are great options for you as well.
HARP Mortgage Refinance
HARP is a program that will help teachers who are “upside down” in their mortgage. If the value of your home is less than what you owe on it, you may qualify for a HARP refinance. HARP is a government mortgage program created to help Americans who owe at least 80% of the value of their home (and up to 200%) and that need assistance refinancing. The purpose is to help those who may not otherwise qualify for a new home loan and could potentially face foreclosure.
To learn more about all of our refinancing options please contact us and speak with a loan specialist who will be able to answer all of your questions about our different programs and what you qualify for.
Are you a teacher looking to buy a home? We also offer home purchase loans for teachers, including programs for first time home buyers, investment property loans, and financing for the good neighbor next door program by HUD.