Educator 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.
All applicants must have a credit score of 680 or higher.
No extra cash for a down payment required.
45% debt-to-income (DTI) limit.
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.
Apply online and get pre-approved within a few days.
More Loan Resources
Before you start your loan pre-qualification process, you’ll need a few documents to get started.
Get the best homeowner’s insurance quote available.
Our team is here to help answer any questions you may have.
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- 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.