Teacher Home Buying Programs – First Time Home Buyer Loans

We offer mortgage programs for teachers looking to purchase a home, including first time home buyers.  Buying your first home is a special and exciting experience, and we want to help ensure that the process is as smooth and efficient as possible for you.  We will learn about what your personal financial situation is, what your home buying goals are, and then help identify the best financing options for you.

Our first time home buyer programs offer teachers the option to only put 3.5% down (through an FHA home purchase loan).  We also have several conventional home loan programs for teachers buying a home.

FHA Home Buying Loan Programs for Teachers:

FHA loans are the ideal home buying mortgage loans for first time home buyers. Teachers that qualify for a FHA loan will only be required to put 3.5% down. This down payment money can be borrowed from a relative if needed. FHA is also a great option for teachers who are buying a home that are not first time home buyers. Once in an FHA home loan you may qualify for great future refinancing home loans. FHA has some of the easiest refinance programs available in the mortgage marketplace, especially if you are approved for a FHA streamline refinance.

Conventional Home Buying Loans for Teachers:

Conventional mortgages are best for scenarios where a borrower does not qualify for a FHA loan due to the mortgage not meeting their guidelines. This includes purchase amounts over the conforming loan limits (different limits apply to different locations around the country). Conventional loans are also great for various types of properties and second homes or investment properties. We encourage you to contact us today and speak with one of out mortgage specialists to learn about what your best options are.

VA Home Loans for Teachers That Are Veterans:

If you are a veteran, you may qualify for 100% financing through the Veterans Administration. We will help you through the process of finding out what your options are and what you qualify for.

Recommendations for First Time Home Buyers:

  • The very first step you should take is getting pre-qualified. Before searching for homes for sale we highly recommend doing this so that you will know how much you qualify for. This will prevent you from spending any wasted time looking at homes that might be out of the price range that you can borrow.
  • Once you know how much you qualify for, you will want to take into consideration all of the additional expenses of owning a home, such as utilities, repairs, and of course property taxes and insurance. It is smart to always buy less than you may think you can afford so that you have some “cushioning” in the event of needing extra money for home maintenance.
  • We recommend working with a great Realtor in your area so that they can educate you on the local market, trends, and potential benefits and risks associated with various properties that you are interested in.

We offer Home Purchase Programs to Teachers in all of the following US States:

Alabama, Arkansas, California, Colorado, Florida, Georgia, Kansas, Louisiana, Iowa, Illinois, Indiana, Maryland, Michigan, Minnesota, Mississippi, North Carolina, New Hampshire, New Mexico, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, Wyoming.

 

Who We can help

We can help all types of educators with their home loan needs.  This includes everyone from K-12 teachers to college professors.  We can also provide special loan programs to other school professionals, such as principals and general school staff.