Teacher Next Door Home Loans

Teachers can get a 50% Discount on the Purchase Price of the Home.
For Example: if the home is appraised at $200,000.00 you can purchase it for $100,000.00.
The full price must be offered at first and the discount is applied at the Close of Escrow.

Those Qualified for the Program

1. Teachers - Kindergarden - 12 grade

2. Emergency Medical Technicans

3. Fire Fighters

4. Law Enforcement Officers

What is covered under Teachers Loan Program?

You must work for a State-accredited public or private school

Providing direct services to students in grades pre-k to 12th grade.

HUD Requirements for You - the Teacher / Purchaser:

You must have been in your profession for 2 Years Full-Time, and

Commit to live in the home for at least 36 Months = 3 Years.

The home must be owner occupied and your sole or only residence

The home must be located in a revitalized area within the district that you work in.

Participants must certify that they are employed by an educational agency that serves the school district/jurisdiction in which the home they are purchasing is located.

Homes can be purchased from FHA with the help of one of our Agents.

Very Important Financing Information for the Teachers:

All properties purchases must be done by a HUD approved Agent / Broker

The HUD approved agent provides the request for available financing for the program,

The Financing provides purchasers with a Silent Second for the purchase.

The purchaser must be pre-approved before purchasing the property.

These are neighborhoods receiving targeted public and private sector assistance that offer significant opportunities for local economic growth.

COMMON QUESTIONS AND ANSWERS:

HUD Requirements for Agents / Brokers:

This is How You Obtain Access to a available Property:

1. You have to have a Licensed Agent / Broker -

2. The Licensed Agent / Broker must already be approved by HUD - and we are.

3. The Licensed Agent / Broker has access to the properties that are available in your district,

4. The Licensed Agent / Broker must be sure that you a pre-approved before making a bid.

5. The Licensed Agent / Broker must receive a 'Earnest Money Deposit' before a bid is made.

6. The Licensed Agent / Broker is the one who makes the purchase bid in your favor to HUD.

7. The Licensed Agent / Broker makes the bid for the full price and is discounted 1/2 price at closing.

1. How much of a discount do I get on my home?

The Teacher discounts comes off the loan with having the Silent Second for the Teachers loan program, the government sets the Appraised Value or the Current amount that they are willing to open up bidding at from that amount you bid upward to get the winning bid.

2. Who is eligible for the Teacher Loan initiative?

Any state-certified classroom teacher or administrator employed full-time by a public school, private school or federal, state, county or municipal educational agency is eligible to buy a Teacher home.

3. Where are the Teacher homes located?

In specially designated revitalization areas, the home must also be located in the school district where you work. There are over 600 revitalization areas across the U.S.A., but their is a short supply of homes available for purchase - typically one to two per county on any given month.

4. Can I get a loan for a home I want to Purchase under the program?

Yes, you must first qualify for the loan and insure that you can make your monthly payments on time every month. This process is handeled at the begining if you cannot afford to purchase the property you will not qualify.

5. How long do I have to live in my home?

Three years, as your sole residence, and it could be up to 7 years depending on your state.

6. Do I have to use a Agent to buy a Teacher home?

We have inhouse departments that handle the whole process for you from start to finish:

First, our loan department gets you pre-approved for the loan to purchase the home,
Second, our real estate department submits a bid for a property (if their is a property available in your district target area for sale), if we look for approved properties in non-targeted areas that you can afford and provide all of the paperwork on the purchase offer for you.
Third, our escrow, funding and closing departments successfully end the transaction for you.

7. Can a Teacher purchase a property outside of their School District Targeted area in where he/she is employed?

No. The Teacher must purchase a home in the school district/jurisdiction in which they are employed, if they choose to go through the bidding process of purchasing the property, but if they are qualifying for the Teacher loan program they do not have to live in a high crime targeted area within their district, they can choose that qualifies under our Real Estate Department for their purchasing and funding of a home.

ABOUT YOU:
First Name
Spouses Name
Last Name
Home Number ( )
Work Number ( )
Fax Telephone ( )

E-mail Address
Street Address
City State Zip
Your

Comments, Questions and/or Suggestions:

Loan Application

All offers are subject to change and are based on availability.
Only one offer can be valid per pre-approved borrower.

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All programs, rates and terms are for broker use only and are subject to change without notice.

GOD MADE TEACHERS
God understood our thirst for
knowledge, and our need to be led
by someone wiser;
He needed a heart of compassion,
of encouragement, and patience;
Someone who would accept
the challenge regardless of the
opposition; Someone who could see potential
and believe in the best in others
So He made Teachers

THE TEACHERS PRAYER
Lord, Please help me,
To strengthen their voices,
bodies and minds,
To express their feelings and
control them sometimes,
To explore what's near
and venture afar,
But most important to love
who they are.