Is there a similar home ownership program for teachers as there is for veterans where no down payment is required? RJ

Asked by Robin Jones, Chillicothe, OH Sun Jan 29, 2012

Help the community by answering this question:

+ web reference
Web reference:

Answers

5
Andy Matejka, Mortgage Broker Or Lender, Greensboro, NC
Sun Jan 29, 2012
Good Evening RJ,

You might wish to look into the USDA RD program. It is 100% financing for all eligible homes and qualified borrowers. The property must be in an eligible area and be sufficient collateral for the loan and your total household income must be within 125% of the median income for the county to be eligible. The website below has an income calculator and a property eligibility guide.

http://eligibility.sc.egov.usda.gov/eligibility/eligibilityA…

AS a licensed loan originator in NC I can answer any questions you have regarding pre-approval for this loan if you check out the website and still have more questions.
1 vote
Daniel Fisher, Agent, Charlotte, NC
Sun Jan 29, 2012
Good evening, RJ
The GNND program is a program where teachers can purchase a home for 50% off the appraised value with only $100 down, but there are not many homes and you can only purchase using a HUD registered broker, which we are.. There are several other programs available from Gaston County, the State of NC and the Federal Home Loan Bank that provide down payment assistance, down payment matching. If you have a full time agent with a Masters degree in Planning with Finance and over two decades of experience, working for you, you will likely do better in negotiations. I'd be pleased to provide that service. ... if you appreciate this answer, please give it a "thumbs up", or if this was the most helpful answer, please say thanks with a "best answer" click .
1 vote
Lori Williams, Agent, Charlotte, NC
Sun Jan 29, 2012
There is a good neighbor program

http://www.goodneighbornextdoor.com/?gclid=CJPA4bKW9q0CFcuP7…

Only certain homes qualify for this program and there are certain restrictions and rules. I would be happy to help you search for a home in that program.
Contact me at 704 830 7337 or yourhomebylori@gmail.com
1 vote
Bob Duckworth, Agent, Lilesville, NC
Mon Jan 30, 2012
As others have mentioned, USDA is a great option (100% financing) and most all of Gaston County qualifies except for the city limits of Gastonia. The Gaston County Homebuyer Assistance Program also offers up to $5000 toward down payment/closing cost so it is very possible to buy a home with no money out of pocket. There are income limits for the GC program. I will gladly email those to you if you want them.
0 votes
Chip Wilson, Agent, Belmont, NC
Sun Jan 29, 2012
The Good Neighbor next door program is limited, but other HUD $100 down houses are available to teachers -- and everybody!

Glad to help you in the search -- unless you have decided upon one of the other fine Realtors who answered this question!

Chip Wilson
Garibaldi Realty
(866) 810-8047
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more