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  • Writer's pictureStacy Rau

Down Payment Assistance for Teachers

Updated: Apr 23, 2023


Recently I was touring homes with my friend Emily, a 5th grade teacher, also a Harry Potter enthusiast, one question she had was, "Are there any programs to help teachers buy a home?" Yes, there sure is!!! Not enough people are talking about this. According to mortgage expert Max Prosky, a Mortgage Sales Supervisor with US Bank, let me give you the deets!



Homes for Teachers is part of the Home is Possible program. It provides down payment or closing cost assistance for teachers. As a teacher myself, I know the struggles of a teacher's salary. Every little bit of help we can get makes a huge difference!


KEY BENEFITS:

  • $7500 down payment assistance/closing cost

  • Forgivable after 5 years

  • 30 Year Fixed Rate Loan FHA, VA


REQUIREMENTS:

  • $105K household income

  • 660 minimum credit score

  • 45% maximum debt to income ratio

  • Can't own any other property

  • K-12 full time teacher

  • Home price below $647,200

  • One time fee of $725



Would you like to learn more? I am here to help you navigate this assistance program and make home ownership a reality. Email me at stacy@welcomehomelv.com or call me at 702-249-4669. I would love to help get you into your dream home!









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