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Teachers Flex Mortgage (Neighborhood Champion) - Detail Verified 06/14/10 Last Updated 06/17/09

Program Overview

Teachers Flex Mortgage (Neighborhood Champion) - Detail Verified 06/14/10 Last Updated 06/17/09 is a program designed to help full and part-time Teachers, qualify for a loan with 3% downpayment and a credit score of 640 or higher, Program also includes an Accidental Death and Dismemberment insurance policy. This program is available Nationwide. The application fee is $ 50.

Who is eligible for this program?

This program is available for full or part-time educators working in public and private elementary and secondary schools (K-12). This includes teachers, administrators (principals, vice-principals, librarians), and health care professionals, including speech therapists, counselors and nurses. The program is for purchase of a residence only. No 3 or 4 units or hotels. HUD Median Income Limits: 80% Is this program for first time buyers only? No

Property Eligibility Requirements

Allowable property types: SFR, Condos, 1-4 units, townhomes

Benefit Details

These loans have conforming limits in all states and Washington D.C. The program has increased loan limits in eligible high cost areas to make homeownership more attainable. Benefit: 3% down payment if below 80% of HUD adjusted median income limits. 10% down if above. Homebuyer Counseling / Education Required: No Owner Occupancy Required: Yes Other Program Comments: This program requires a credit score of 640 or higher.

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