First Time Home Buyer Grants For Teachers-Free Money For Home Repair
According to the Community Trust and Rural School, there are various grants for first time home buyer for teachers offered by federal government,state government ,private mortgage lenders,and few local school districts. These grant programs are in place to maximize the rate of house ownership among teachers, a service that always has low payment scale.
Federal Programs:
The U.S federal government offers a program specially designed for service workers like Police Officials,Fireman, EMTs' and Teachers. Officially titled the "Good-Neighbor-Next-Door" Program, it offers those teachers who are likely going to buy homes a discount of 50% from the listed price of HUD houses, as long as those teachers commit to owning and maintaining their primary residence in the property for at least 36 months.Private Programs:
Many private mortgage lenders offers first time home buyer grants to teachers,understanding that this profession is always lowest compensated service and in big need of home buyer support. These grant programs can be found at regional and national mortgage lenders like Fifth Third Bank,PNC Bank, and Wells Fargo.
It is very important for teachers to compare grant offers,understand each and every details of each grant program and recognize that the price rates and terms and conditions being offered to them are based on a Mortgage lender's business goals.
It is very important for teachers to compare grant offers,understand each and every details of each grant program and recognize that the price rates and terms and conditions being offered to them are based on a Mortgage lender's business goals.
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