Educator Loans
Gulf Coast Educators FCU offers a one of a kind Educator Mortgage program just for teachers and school employees in the state of Texas.
Apply NowHome Loans for Teachers & School Employees
If you are a teacher or school employee looking to buy a home, you are in luck. With a Gulf Coast Educators FCU Educator Mortgage, you can finance your new home with many additional perks.
- No down payment required
- No Private Mortgage Insurance (PMI)
- Finance the full cost of your home
- An additional 3% can be financed, if needed, to cover closing costs.
To see if this conventional mortgage loan is the right fit for you, check out the qualifications below.
Apply NowEducator Mortgage Qualifications
At least one applicant must be a current teacher or school employee for at least 2 consecutive years in a Texas school district.
Credit Score
All applicants must have a credit score of 680 or higher.
Down Payment
No extra cash for a down payment required.
DTI Limit
45% debt-to-income (DTI) limit.
Closing Costs
Finance an extra 3% to cover your closing costs.
Teacher Mortgage Features
No Down Payment
Finance the full cost of your home with no money down.
No PMI Required
With a Teacher Mortgage loan, you are exempt from having to pay Private Mortgage Insurance.
Up to 103% Financing
Finance the full cost of your home, plus an extra 3% to cover your closing costs, if needed.
Quick Pre-Approval
Apply online and get pre-approved within a few days.
More Loan Resources
Required Documents
Before you start your loan pre-qualification process, you’ll need a few documents to get started.
Homeowners Insurance
Get the best homeowner’s insurance quote available.
Contact Us
Our team is here to help answer any questions you may have.
How much will my monthly payment be?
Budgeting for a new home can be challenging. Use our calculators to help you estimate your monthly mortgage payments, plus so much more.
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Start Your Loan Application
- 1Educator Mortgage Disclosure – To apply for an Educator Mortgage Loan, at least one applicant must be a current teacher or school employee for at least 2 consecutive years at a Texas school district. All applicants must have a credit score of 680 or higher and a 45% debt-to-income limit. Applicants may finance up to 103% LTV. Additional 3% is to be utilized for closing costs only – No cash back and no “coverage” for a lower appraised home permitted. This program is intended for primary residences within the state of Texas only, not vacation homes or investment properties. Other conditions may apply.
- 2Mortgage Disclosure – All property financed must be located in the state of Texas.
- 3Confidentiality Disclosure – Please do not send confidential information, such as member number, social security number, etc. in an e-mail message.