Teachers Down Payment Assistance Program

Are you a California Teacher looking for a new home loan.  Great News…the California Housing Finance Agency now has a program that gives Teachers Down Payment Assistance on California Home Purchases.

The ECTP program gives junior loans from $7500 to $15,000 depending on the Teachers Income. And the area which the home is being purchased. The CalHFA program is the perfect assistance to get you into your dream home with little or no money down. The program is for Teachers who have not owned a home in the last 3 years and are thus eligible for the California First time homebuyers program.

There are some eligibility requirements but let us help get you pre-Approved for the program.

The best thing about this program is that Teachers can get into a new home purchase with payments usually lower than rent and begin building equity. It allows them to buy with very little down. If a Teacher gets the Seller to contribute to the closing cost, it provides for buying a new home for almost no money down.

The junior loan or second, it forgiven after a certain amount of time that the Teacher occupies the home as their primary residence.If the home is purchased using a FHA home loan the down payment is only 3.5%.

If you are a California Teacher, use our handy mortgage payment calculator to see what your house payment might be. Down Payment Assistance can be the difference in buying or renting a home for a Teacher.You can complete the application online and receive same day home loan approval.