Beau is a teacher, entrepreneur and the founder of The Moneywise Teacher! ©2018 EVERETT FINANCIAL, INC. D/B/A SUPREME LENDING NMLS ID #2129 (www.nmlsconsumeraccess.org) 14801 Quorum Dr., #300, Dallas, TX 75254. California’s School Teachers, Educators, Administrators, and School District Employees have several mortgage and home buyer assistance program options besides the suspended CalSTRS Teacher home loan. The current limit for borrowers is 140% of the county Area Median Income. Petco Education Discount – Get up to 50% off! Copyright © 2020 Educator Mortgage Program | All Rights Reserved | Site by: https://www.supremelending.com/docs/TX_C_RFN.pdf. Current teachers with a CalSTRS 80/17 loan should read be proactive and take action by reading this. google_ad_height = 250; © 2020 The Moneywise Teacher. – CalPLUS w/ ZIP – provides 3.5% down payment assistance silent second mortgage that is deferred at 0% for life of the loan. I would be honored if you would contact me or call (951) 215-6119 to figure out which program is best for you and compare your options side by side. Teachers can use any mortgage program, like CalHERO, to purchase these homes. Mortgages and Home Loans for California Teachers and School Employees Your Teacher Next Door Program Specialist will help you find the perfect home with the best financing program available. We are actively working on an official endorsement as a financial provider for CTA members. STEAP is available to all employees including teachers, administrators, school district employees, and support staff Members. Moreover, it can also be combined or layered with other assistance programs. The Moneywise Teacher also participates in various affiliate programs for a wide range of companies via affiliate networks such as CJ, FlexOffers, ShareASale, Impact and others. The two most notable reasons are that FHA insured loans only require a 3.5% down payment for home purchase loans, including first time home buyers. Crystalee Calderwood The Educator Mortgage Program provides several refinancing programs for teachers in California. Overstock Teacher Discount – Get 5%-40% in Rewards! Read more details about eligibility and qualifying for the ECTP program go here or read this. Educator Mortgage provides several special refinancing options for teachers across America. January 1, 2020, 8:50 am. Whether you are purchasing a home, refinancing, looking for a home equity line of credit or seeking a reverse mortgage, we highly recommend LendingTree. Buyers can also combine the CalHFA down payment assistance program (CHDAP) with the MCTM. The CalSTRS 80/17 teacher purchase loan is a combo loan where a first loan (30 year fixed) is set at 80% LTV of the homes sales price (to avoid paying PMI) and a second mortgage is set at 17% CLTV. May 25, 2019, 7:45 pm. You can read more about the MyCommunity Teacher Mortgage here. This website is not authorized by the New York State Department of Financial Services to accept mortgage loan applications for properties located in New York. Eligible buyers must be employed at any K-12 California public or charter school, school district offices, and county or continuation schools. Be sure to check out our list of the top 4 top teacher home mortgage programs for more home loan options for educators. You really need a SPECIALIST who understands how to structure your mortgage and assistance program. You can read more about the Good Teacher Next Door and conditions of buying here or here. A number of local, state and federal programs offer eligible teachers steep discounts on homes and attractive mortgage terms. NHSIE (Neighborhood Housing Services of the Inland Empire) offers two homebuyer programs teachers can use. Champion Education Discount – How to Get 10% Off! FHA insured loans are advantageous for many reasons. If you are a teacher in California looking to buy a home, you are in luck! The School Teacher and Employee Assistance Program provides up to 3.5% down payment assistance to eligible first time homebuyers. To be eligible you must be working at a K-12 California public or charter school. Our #1 recommended provider of teacher home loans in California is LendingTree. If you’re not sure which program will help you qualify for the most, has the lowest rate, has the lowest payment, lowest down payment requirement, which one you are eligible for, or which program you will actually qualify for, don’t worry, most loan officers don’t know either! Beau Mueller Equal Housing Opportunity Lender. Supreme Lending is an Equal Housing Opportunity Lender. CalSTRS 80/17 Refinance. With LendingTree, you can easily compare up to five educator-friendly teacher home loan in California offers! Terms of Use This program is also not limited to first time home buyers. educatormortgage@supremelending.com. All rights reserved. Teacher home loans in California are available from a variety of sources. Additionally, borrowers with this program can benefit from discounted Private Mortgage Insurance (PMI) and more flexible down payment options. Moneywise Teacher Staff The two most notable reasons are that FHA insured loans only require a 3.5% down payment for home purchase loans, including first time home buyers. To sum up, this program is available to all teachers, school district employees, support staff and administrators. Beau Mueller This program is officially referred to as the Good Neighbor Next Door (GNND). – CalHFA – first lien Conventional or FHA program. by Highly recommended! Of course, there are some national programs that you should consider as well. More details on CalHERO can be read here. Whether you are purchasing a home, refinancing, looking for a home equity line of credit or seeking a reverse mortgage, we highly recommend LendingTree. Contact us today to find out if you qualify for an FHA loan. CalHERO is a LESS EXPENSIVE option than the former CalSTRS loan because CalHERO does not charge a 1.5% up front origination fee. We conclude our list of California home loan options with the MyCommunity Teacher Mortgage (MCTM) program. Furthermore, it can help you make an informed decision on which California home loan for teachers is best for you. Subject to availability, ALL teachers, grades Pre-K thru 12, as well as administrators and staff, will receive a minimum of $1,000.00 NON-repayable GRANT to be used toward the purchase of a home. He started this website to help educators make and save more money. Our #1 recommended provider of teacher home loans in California is LendingTree. Crystalee Calderwood Grammarly Review 2019: Should You Go Premium? The Good Teacher Next Door program’s goal is to promote home ownership and give a large financial incentive for teachers to buy a HUD owned home in hopes their presence will help revitalize targeted neighborhoods. NHF/GSFA Grant program provides home buyer assistance for buyers who are NOT first time home buyers! January 1, 2020, 9:15 am, by CalHERO is an EXCLUSIVE home loan for teachers, educators, and school employees/staff at private and public schools, colleges, and universities. Homeloanartist.com, & Brad Yzermans are not affiliated with or representing FHA, VA, CalHFA, USDA, FNMA or any other government agency. Contact us today to see what your best refinance options are. November 3, 2020, 9:44 pm, by So be on the lookout for teacher home buying programs specific to your state! Again, our highest recommendation is to start your comparison shopping on LendingTree today HERE. California Teacher Housing Grants Housing grants of up to $6,000.00 are available to all California teachers through the Teacher Next Door Program. If looking at any of the other California teacher home loan options that follow, we recommended you take a look at LendingTree first! We understand that buying a home is a special and exciting experience, and we are committed to making the process an excellent one. Licensing Learn more about the MyCommunity California Teacher Mortgage Program HERE. Get Started Find the best education discounts all in one convenient place! – CityLIFT – Provides $15,000 in down payment assistance for buyers in the Inland Empire that is forgiven after 5 years….and do not have to be first time home buyers. All rights reserved. The Best Telescopes for Teenagers Reviewed, 9 Awesome Binoculars for Children Reviewed, 9 of the Best Ant Farms for Kids Compared, California Teacher Home Loan Providers on LendingTree HERE, CalHFA School Teacher and Employee Assistance Program HERE, MyCommunity California Teacher Mortgage Program HERE, start your comparison shopping on LendingTree today HERE, Teacher Home Loans – 4 Top Programs in 2020, How to Save for Your First Down Payment on a Teacher’s Salary, 5 Years to Debt Free: Two Married Teachers Make the Journey, Ben Franklin Crafts Teacher Discount – 10 – 15% + off. Patriot Pacific Financial Corp & Brad Yzermans are licensed to lend in California. Information, rates, & programs are subject to change without prior notice and may not be available in all states. Home Loans For Teachers in California – Home Buying Program. Compare offers from up to 5 educator-friendly California Teacher Home Loan Providers on LendingTree HERE. Ann Taylor Education Discount – How to Get 15% + off! 6 Teaching Loan Forgiveness Programs Reviewed. 15 Ways Teachers Can Get Free Teaching Supplies! January 15, 2020, 11:30 am, by In conclusion, when searching for teacher home loans in California do not forget to compare rates and other benefits. Learn more about the CalHFA School Teacher and Employee Assistance Program HERE. Second on our list is CalHFA’s School Teacher and Employee Assistance Program (STEAP). This includes FHA refinancing, VA refinancing, jumbo refinancing, removing mortgage insurance, etc. – CalHFA MyHOME Assistance – provides 5% for down payment assistance in the form of a silent second mortgage for first time home buyers. Privacy Policy CalHFA School Teacher and Employee Assistance Program. google_ad_width = 300;
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