: A national program providing grants up to $8,000 and down payment assistance up to $15,000 .
While there is no USDA loan program exclusively for teachers, the are highly beneficial for educators due to their 0% down payment requirement and focus on rural areas where about one-third of U.S. teachers work. Key USDA Loan Features for Teachers usda home buying loan programs for teachers
: Low and very-low-income applicants who cannot obtain other financing. : A national program providing grants up to
: Offers 100% financing (no down payment) through private lenders. Key USDA Loan Features for Teachers : Low
: Requires a 1% upfront guarantee fee and a 0.35% annual fee , both of which can typically be rolled into the loan. Structure : Typically a 30-year fixed-rate mortgage. Single Family Housing Direct Home Loans
: Must be a modest, safe, and sanitary primary residence. Some lenders may restrict homes with in-ground swimming pools or those larger than 2,000 square feet. Complementary Programs for Teachers
If you are buying in a non-rural area, you may consider these teacher-specific alternatives: