Even with lunch time trips to the dollar store for supplies, peer drama, bullying, learning disabilities, parents and administrators, you still figure out how to give more to your students. Just as we rely on the patience, knowledge and virtue of pre-K, K-12 and post-secondary teachers like you to educate the students, you can rely on us to give back to you and your family when you need a place to call home.
"On The Job, You Serve Others. Now It's Our Turn To Serve You."
Benefits/Options of the Teachers Home Loan Program Simply stated, the Teachers Home Loan Program saves you money through better options:
Discounted interest rates (option available)
No Lender Fees for loan amounts over $150,000 (excludes down payment assistance)
The ZERO PROGRAM (buy your new home with no money out of your pocket) (LEARN MORE)
Skip Your First 3 House Payments (option available) (FHA or VA only)
Down Payment Assistance Programs (multiple options available) 620 or Higher Credit Score Required
Grant, Subsidies, and Concession Programs to assist with your closing costs (options available)
No Mortgage Insurance option for Conventional Mortgages with less than 20% down payment
No Upfront fees at time of application
No rate lock fee
Flexible underwriting (580 credit score options available)
Low Down Payment Mortgage Options (starting at zero down payment, 3% conventional, 3.5% FHA)
Mortgage Credit Certificate, an IRS tax credit up to $2000 for First Time Home Buyers
HUD's Teacher Next Door Program pairs educators with federal, state, and local home loan programs for teachers— including the Good Neighbors Next Door program. It also grants up to $4,170 for teachers and even $6,000 in some areas depending on the cost of living.
The 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 depending on program, 620 or higher is recommended
Down payment options as low as 0 – 3.5% with a new 3% down option
15 or 30 year fixed loan terms available as well as Adjustable Rate Mortgage options
Debt to Income Ratios as high as 50%
Primary Residence, Condos (non-warrantable possible) or Second Homes only
Single Family Residences or Duplexes only
* Income limits and additional guidelines may apply if combining with down payment assistance, HomeReady or HomePossible program.
· 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. The Lunch Lady....if you help our children ask me!
Because Teachers Matter! Teachers and all Educators Deserve Recognition and Benefit for Their Work! Let's work together.
INTRODUCING THE SKIP 3 PROGRAM
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.
What will I guarantee Teachers?
• Lowest down payment options available.
• Very Competitive interest rates and closing costs.
• Simple processing for an efficient close.
• Flexible credit requirements
• Availability to YOUR schedule
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 missouri 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 helping home buyers purchase their new home with little to nothing out of pocket. I specialize in 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
GET PRE-QUALIFIED FOR THE MISSOURI TEACHERS HOME LOAN PROGRAM!
I will provide you with a complete and detailed assessment and a pre-qualification letter. Within 1 to 2 business days I will email you what options and benefits are available to you through the Teachers Program.