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Loan Programs

The lenders of Educator Loans offer the nations leading loan programs to serve any home financing needs a teacher has.  These programs cover everything from home buying programs for first time home buyers to excellent refinancing options such as cash out refinances and home equity loans.   Some of the most commonly financed programs that Educator Loans lenders fund are:

  • First Time Home Buyer Loans – FHA is the preferred loan of choice for most teachers who are purchasing a home for the very first time.  Why do most educational professionals select an FHA loan when buying their first home?  This is usually do to the general ease of qualifying for FHA (which accepts lower credit scores), as well as the low down payment options.  Teachers who qualify will find that they have the option to purchase most homes (excluding jumbo loans) for as little as 3.5% down.  FHA is also the primary financing option for the teacher next door program, which only requires teachers to put $100 down when they qualify and win the opportunity to buy a home in this special program.
  • Move Up Buyers, Second Homes, and Investment Properties – Teachers who are buying a new home and are not first time home buyers have excellent home financing options with our lenders.  This includes a wide range of loan programs that cover everything from purchasing a second home, vacation home, or investment property, or “move up buying” into a new primary residence (selling your current primary residence in order to buy a new one)
  • Refinancing Loans – Whether you want to lower your interest rate and monthly payment, change loan terms, or take cash out, our lenders offer every refinancing program imaginable.
  • FHA Loans – FHA loans are popular with teachers for many reasons, and not just for the excellent financing terms offered for home purchase loans.  FHA also has the highest LTVs allowed for cash out refinancing (85%) and a special streamline refinance program (the FHA streamline refinance).  This low cost and easy-to-process streamline loan allows teachers to refinance their home with very little documentation requirements, and in most cases, no appraisal is needed.
  • USDA Loans – Do you wish to buy a home in a rural or agricultural area?  Or perhaps you already do and wish to refinance your home, land or farm.  Our lenders offer all USDA loan programs available to cover all purchase and refinancing  needs.

The aforementioned loan types are merely just some of the most commonly utilized loan programs.  If you are interested in applying for a different type of loan we encourage you to speak with one of our representatives and they will be able to inform you of what other loan options are network of mortgage lenders offer.

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