Contact Us

Name

Email

Phone

Loan Type

Loan Amount

Address

State

Comment

Teacher Next Door

Teachers are one of the only professionals who are entitled to special home buying programs.  Along with a few other types of professionals, teachers are eligible participants in the HUD Good Neighbor Next Door program (commonly referred to as the “Teacher Next Door” program.
If a teacher qualifies and wins the opportunity to purchase a home through the Teacher Next Door program they will have the opportunity to secure financing for their home purchase through the FHA with only a $100 down payment requirement.

Teachers who do not wish to buy a home through the HUD GNND program will be happy to know that there are other excellent home financing options available to them.  This includes a variety of programs, with the two most popular options being FHA and conventional loans.  FHA is the best option for those who want to buy a home with as little down as possible.  Even teachers who are first time home buyers may qualify for a home loan with only 3.5% required as a down payment.
Teachers and other educational workers who have good or excellent credit, as well as a substantial down payment available to put down should first consider a conventional loan.  This is especially the case for those who can put 20% down or more.  By doing so, you will not have to pay any monthly mortgage insurance, and your interest rate and loan terms will likely be far more favorable than a FHA loan.

Menu