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Teacher Next Door Loan

Please note that FHA has temporarily withdrawn this program. Please contact me as there are several other alternatives.

As an alternative I have some information on the Teacher-Flex program.

Teacher Next Door Loan Program                                                                                                                                     

HUD wants to strengthen America's communities. The Teacher Next Door Initiative offers HUD-acquired, single family homes to public school teachers at a 50 percent discount. Teachers are an integral part of our communities and are often the most important mentors in a child's life. In fact, other than families, teachers are often the most important mentors in a childs life.

Under the program, HUD offers homes located in designated revitalization areas. Revitalization areas are typically in low- and moderate-income neighborhoods, have many vacant properties and often have high crime rates, but are considered good candidates for economic development and improvement. Homes offered for sale in the program were previously insured through the FHA and then foreclosed. HUD also reduces the down payment requirement to just $100 if the home is purchased with an FHA insured mortgage.

Teachers must live in the property as their sole residence for at least three years after purchase. A teacher is defined as an individual employed full time by a public school, private school, or Federal, State, county, or municipal educational agency as a State-certified classroom teacher or administrator in grades K through 12.

In order to purchase an Teacher Next Door Home you must be pre-approved and have a letter of commitment for an approved loan. Also you will need a Realtor to assist you with the purchase.

Prequalify for the Teacher Next Door Program.

As a Certified Mortgage Planning Specialist, I offer an analysis of your situation today can make suggestions on how small changes in how your debt is structured today can have a life changing effect in the years to come.  Read more about this free, no obligation service.

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