The Teachers Home Loan Program is a real estate home loan reward savings program for Teachers and Educators when they buy or refinance a home in Missouri or Illinois.  The MO/IL Teachers Home Loan Program can be referred to as a mortgage program for heroes.

The Teachers Home Loan Program is an individually designed mortgage and home buying plan to provide you with more and better options that are not or can not be offered by other lenders. The goal of program is to provide money saving options at closing and throughout the life of your home loan.

The Top 5 Teachers Program Options
1) The Zero Option; an intentionally designed home buyer program to purchase a new home with zero money out of the home buyers pocket.​
2) The 2 Percent Interest Rate Option; a 30 year fixed rate mortgage with a starting rate 2 percent below your locked interest rate. (ex) you lock your rate at 4.5%, the first 12 months of payments are at 2.5%, the next 12 months of payments are 3.5%, and years 3 - 30 are at your locked rate of 4.5%
3) Skip 3 Option; through the usage of a special seller concession the First 3 House Payments are made on your behalf. Close on your home and you will not make a payment for 4 months and the first three payments are made for you. Available only for FHA and VA mortgages
4)  No Monthly Mortgage Insurance; purchase you next new home with less than 20% down payment and have no monthly mortgage insurance payment for a Conventional, VA, or USDA mortgage.
5) The Low, Low, Lower Interest Rate Option; using available credits the home buyer locks into an interest rate well below the market interest rate. Home Buyers have been locking into a 30 year fixed rate mortgage generally .500 to .625 lower than what other lenders will offer. 

Take the Teacher's Exam for a quick and easy pre-qualification or continue reading to educate yourself on the benefits of the Missouri Teachers Home Loan Program.


Benefits of Missouri Teachers Home Loan Program
Simply stated, the MO/IL Teachers Home Loan Programs saves you money through MORE OPTIONS! The Teachers Program is all about providing more options to you to increase your ability to purchase your new home with more savings at closing and during the life of you mortgage.


        Discounted interest rate options (multiple options
        Grants and Concession Programs to help pay Closing Costs


        Skip 3 House Payments Program (see explanation below)

         No upfront fees at time of pre-approval and application
        No rate lock fee


        Flexible underwriting

         Down Payment Assistance Programs Available * 620 Middle Credit Score Required Income limits and additional guidelines may apply if combining The Teachers Program with a down payment assistance option, HomeReady or HomePossible program.  



Missouri Illinois Teachers Home Loan Program Guidelines;

         Purchase or refinance

         NOT limited to first time buyers *

      Conventional, FHA, VA, and USDA Loan Programs

        No income limit 

        Credit scores as low as 580  (620 for down payment assistance options)

       Down payment options as low as 0% – 3.5% (money can be gifted)

        15 or 30 year fixed loan terms available as well as Adjustable Rate Mortgage Options

*Income Limits and additional guidelines may apply if combining this program with down payment assistance, the HomeReady or HomePossible mortgage programs.


Property Types;

Eligible Properties

    1-4 Single family residence (SFR)

        Detached PUD / Condo’s

        Primary Residence


Ineligible Property Types

        Manufactured homes (occasional exceptions possible)

       Log homes or condotels
        Investment properties


The Missouri Teachers Home Loan Program is available to;

Teachers, Faculty, Principals, Coaches, Librarians, Nurses, Secretaries, Custodial/Facilities Staff, School/District Leadership, Professors, Adjunct Faculty, Counselors, any ISD/Higher EDU/Private EDU employee. 

Because Teachers Matter! Teachers and all Educators Deserve Recognition and Benefit for Their Work! Let's work together.

Why Teachers and Educators Specifically?
My sister works in the Ft. Zumwalt School District, my Aunt in the Francis Howell School District. My best friend from the old neighborhood is a Teacher. Many of my High School and College Friends went on to be Educators. I have many family, friends, and clients who are in Education throughout Missouri and Illinois and I have found there is a need for this program.

When my children were in school I was fortunate enough to help one of their teachers, then another, and then their friends and family who were teachers, I worked with them ALL as if they were family. My children have grown into amazing people that came from the work we as parents provided them, but also through their experiences with the many wonderful educators they had year to year to year.

As I have helped many of our family, friends, and acquaintances in education with their home loans I decided it was time that ALL TEACHERS should receive the same special mortgage program that I have been providing to friends and family for years!

Buy your dream home and skip the first 3 payments!
The Skip 3 Program provides BIG savings on your first three mortgage payments. This program provides a unique option to you to save money when you first move in to your home. Ask Bob about the details and how to use grant and concession programs to make this possible.

At this time the Skip 3 Program is available only for the VA and FHA mortgage programs. Cannot be used with Down Payment Assistance Programs.

Hi, I am Bob Rutledge with New American Funding a progressive and customer oriented Mortgage Company. I have been a Mortgage Loan Officer for over 2 Decades, I have closed 1000s of mortgage, I have experience as a Mortgage Underwriter too.  

I created and make The MO/IL Teachers Home Loan Program available because I saw a great need to help educators and teachers who provide so much and are not provided the recognition and thanks that is deserved. I have helped many become home buyers and I realized that I could help more and started The Teachers Home Loan Programs

I specialize in First Time Home Buyer Programs, Renovation, and Construction Mortgages, and knowing the best mortgage options, programs and guidelines to provide the best to my clients. When we work together you will find that I answer all questions, sometimes before they are asked. I prefer to be available to you as much as my family and life will allow, I am accessible to you via my cell, text, or email, or you can come and visit at my office. You will never wonder if I left you