The only guaranteed no money down home loans for teachers in California are VA and CalVet mortgages. The Good Neighbor/Good Teacher Next Door program is not an actual home loan program, but rather a home buying program. 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. California Teacher home loan and homebuyer down payment assistance programs are available for school district employees. The Educator Mortgage Program was designed specifically for you! Our programs for educators can get you a low rate mortgage, rebates, grants, credits at closing, and discounts with vendors. California teachers will be glad to know that they may qualify for one of the best home loans and service in the marketplace today. Southern California income Limits (call me for other counties). 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 ECTP program has been discontinued as of 2/1/2018 ****. CalSTRS 80/17 Refinance. Educator Mortgage provides special home buying programs for teachers, including first time home buyers. Some loans close in as little as tens days from the date of origination! Additionally, FHA has great refinancing options including a streamline refinance that requires no income documentation or appraisal. May 28, 2016 Updated: May 28, 2016 11 p.m. Facebook Twitter Email. CalSTRS is striving to offer our members unique financial products while maintaining the Home Loan … This is not an offer to enter into an agreement. Our home mortgage loans for teachers provide the most competitive mortgage terms and rates a teacher could find. The home you are purchasing or refinancing must be in the state of California. To be eligible for the California Extra Credit Teacher Home Buying Program,  you must be employed by a K-12 public school, Charter School, county/continuation school, or by the school district. THE Home Loan Program for Teachers in California. Pick any program you want (softball team, science lab, … Special programs to assist teachers who serve. The MCTM program is an alternative to CalSTRS and other programs if you cannot met CalPATH criteria. CalHERO, STEAP, ECTP, and CalSTRS. ECTP gives eligible teachers, support staff, administrators, food service, and janitors who are first time homebuyers for down payment assistance in the form of a silent second deferred payment junior loan. CalSTRS has decided to suspend new mortgage originations through its Home Loan Program because current market conditions do not favor more competitive products beyond what is already available to our members on the open market. Home Loans For Teachers in California – Home Buying Program. Eligible buyers must be employed at any K-12 California public or charter school, school district offices, and county or continuation schools. Read more details about eligibility and qualifying for the ECTP program go here or read this. The Educator Mortgage Program provides several refinancing programs for teachers in California. The School Program, which until recently was known as the “Extra Credit Teacher Home Purchase Program,” provides low-interest deferred loans to first-time home buyers with combined household incomes of $118,000 to $228,300 — depending on the county in which they live. Heather Knight. – 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. Supreme Lending is an Equal Housing Opportunity Lender. Equal Housing Opportunity Lender, Success Stories……Real People, Real Experiences, Real Reviews, California Down Payment Assistance Programs, California Upside Down Mortgage Refinance – HARP, School Teacher and Employee Down Payment Assistance Program, Deferred Student Loan Debt and Mortgage Qualifying: What You Need to Know, For purchase or refinance of an existing loan, Lender credits available to help pay closing costs, Can combine or layer CalHERO with other assistance programs. Patriot Pacific Financial Corp & Brad Yzermans are licensed to lend in California. If you’re a member of the United Federation of Teachers, you may be eligible … 877-350-5225. Pre-Qualification can take as little as 15 minutes, and the service is free! The MyCommunity Teacher Mortgage gives teachers in California access to a low down payment home loan with more flexible underwriting guidelines and discounted PMI. We also have many unique refinancing options for investment properties. Copyright © 2021 Educator Mortgage Program | All Rights Reserved | Site by: https://www.supremelending.com/docs/TX_C_RFN.pdf. CalSTRS is not an actual lender, rather they invest in mortgage notes which are then are paid back to the CalSTRS pension fund. The Teacher Next Door program offers a silent second loan for assisting with closing and down payment costs, up to $20,000 for BMR homes and $40,000 for market-price homes… 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. Read Reviews UFT mortgage deals. NHSIE (Neighborhood Housing Services of the Inland Empire) offers two homebuyer programs teachers can use. The assistance can be in the form of down payment or closing costs up to $15,000 in high cost counties. Home Loans For Teachers. Educator Mortgage provides several special refinancing options for teachers across America. © 2020 Temecula & Murrieta Mortgage Broker & Lender, | NMLS Consumer Access Site |   © All Rights Reserved. For example, Californian teachers can qualify for the Extra Credit Teacher Home Purchase Program (ECTP). We understand that buying a home is a special and exciting experience, and we are committed to making the process an excellent one. STEAP is available to all employees including teachers, administrators, school district employees, and support staff Members. You can read more about the MyCommunity Teacher Mortgage here.