Down Payment Assistance for Teachers
Updated: Apr 23
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!