Home loan programs that are offered for teachers in Washington, DC.
If you're a teacher in the D.C. area, did you know there are home loan programs available for you? There are many incentives too! Programs involve up to $800 in reduced closing costs for teachers and discounted real estate agent fees—combined with the discounted closing costs you can get up to $1,600 in credits while closing.
There’s priority loan processing and donations to your school. Up to $400 in donations can be given to your preferred school program. Teachers can even choose what particular program they want to give to—music, arts, science lab, you name it!
There’s also homes for heroes programs, or discounts of up to 25 percent of your realtor fee when you’re buying and selling (just as long as you make sure to use a realtor of broken who’s signed up as a program affiliate). Applying for this program, reduces closing and home inspection fees.
The United Federation of Teachers has partnered with teachers to help them get loans through the Union Assist Program at ICC Mortgage. This program gives reduced fees for processing or underwriting.
Housing and Urban Development, or HUD, offers Pre-K through 12th grade teachers loan incentives through their HUD Good Neighbor Next Door Sales Program. They give a large incentive—50 percent of the list price of a home. In return, teachers must live at the home for at least 36 months as their only residence.
If you are a D.C. area teacher, contact us for more information and we will walk you through whatever you need to know.