Teachers are heroes, especially in a pandemic. Whether they had to navigate the complexities of remote teaching or design brand new lesson plans due to alternating in-class schedules, this year has brought a host of challenges. At First United Group, we recognize the sacrifices and adjustments they’ve made – this is why we offer eligible teachers in the greater Dallas public school system discounted closing costs on our home purchase programs.
Let’s take a look at some of the mortgage loan programs available…
FHA loans give borrowers the option of a lower down payment compared to non-FHA insured mortgages. FHA loan benefits include:
- Down payments as low as 3.5%
- Loan is guaranteed by the government
- Less than perfect credit can apply
- Energy-efficient mortgages, reverse mortgages, refinances, and renovation loans are also available
VA loan programs are designed to provide home financing to qualified veterans and active duty members and in some cases, their surviving unmarried spouses. Favorable interest rates and low/no down payments are two major draws for borrowers. VA loans offer a number of attractive terms, including:
- No penalty fee if the loan is paid off early
- No private mortgage insurance required
- Less than perfect credit not required
- VA may be able to provide assistance if mortgage payment problems arise
USDA loans are designed to encourage rural land development and growth in rural areas. They were long thought of as solely for farmers, but this program has been expanded in recent years to allow more home buyers to purchase or refinance in rural areas. USDA loan benefits include:
- 100% financing available
- Great rates and low down payments
- Flexible credit guidelines – less than perfect credit may still qualify
If you’d like to learn more about our discount for teachers, start by giving us a call at (972) 591-3097 for a free consultation.
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