Government
Teacher Next Door
The Teacher Next Door program is designed to make homeownership a reality for educators. Offering a unique blend of benefits and flexible requirements, this government-backed loan program can help teachers achieve their dream of owning a home with rates starting as low as 6.25%. Discover how you can benefit from this special program.
Program Benefits
Exclusive program tailored for teachers and educators.
Potentially lower interest rates compared to conventional loans, starting at 6.25%.
Down payment assistance options available.
Flexible credit score requirements; minimum FICO score of 580.
Higher loan-to-value ratios, up to 96.5% LTV.
Guidance and support throughout the entire home buying process.
Program Highlights
Max LTV
96.5%
Min Credit Score
580
Max DTI
55%
Loan Amount Range
$50K - $1M
Amortization Options
Eligible Properties
- Single Family
- Condo
- Townhouse
- Manufactured Housing
Program Requirements
Income Documentation
- •Stable and verifiable income required.
- •Proof of employment as a teacher or educator.
- •Income documentation, such as W-2s and pay stubs.
- •Debt-to-income ratio will be assessed.
Asset Verification
- •Sufficient funds for closing costs and any required down payment (if applicable).
- •Verification of asset accounts, such as bank statements.
- •Gift funds may be allowed with proper documentation.
- •Review of savings and investment accounts.
Insurance & Title
- •Homeowner's insurance required.
- •Flood insurance may be required depending on the property location.
- •Mortgage insurance may be required depending on down payment amount.
- •Proof of insurance coverage prior to closing.
Property Requirements
- •Minimum FICO score of 580 required.
- •Review of credit history to assess creditworthiness.
- •Consideration of past credit behavior and payment history.
- •May require credit counseling in some cases.
Application Process
Six simple steps from application to funding
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Why Choose Custom Mortgage?
Your trusted partner in real estate financing
Extensive Experience
Over 25 years of proven expertise in mortgage lending and real estate financing
Comprehensive Loan Options
Wide range of programs from conventional to specialized non-QM and hard money solutions
Nationwide Coverage
Licensed in multiple states with the ability to fund loans across the country
Flexible Solutions
Customized financing options for unique situations that traditional lenders decline
Competitive Rates
Access to wholesale pricing and volume discounts passed directly to our clients
No Upfront Fees
Transparent pricing with no application fees or upfront costs to get started
Frequently Asked Questions
The minimum FICO score required for the Teacher Next Door program is 580.
The maximum loan-to-value (LTV) ratio for the Teacher Next Door program is 96.5%.
Yes, there may be down payment assistance options available through the Teacher Next Door program. Contact us to explore options specific to your circumstances.
The rate of 6.25% is a 'starting at' rate. Your actual rate may vary based on your credit score, loan amount, and other factors.
Sam K.
Senior Loan Strategist
With over 15 years in the mortgage industry, Sam specializes in complex jumbo and non-qm financing solutions, helping clients navigate unique financial landscapes.
NMLS #12345 | Certified Mortgage Advisor (CMA)
TESTIMONIALS
Success stories from families and investors across the nation who achieved their goals with CMRE.
"I've been working with Custom Mortgage and Real Estate for over five years now, and they've totally helped me get through a bunch of tricky transactions. Their team is super helpful all the way through, making sure everything goes off without a hitch. I seriously recommend Custom Mortgage to anyone who needs financing or a solid real estate broker."
RENE M
"I just worked with Custom Mortgage and Real Estate, and seriously, I can't recommend them enough. They have helped my family and me with a bunch of transactions, always receiving results that nobody else could. Their team is super responsive and really experienced, which made everything go through smoothly with no stress at all."
ARTHUR G
"As an investor in real estate and an agent, I totally count on Custom Mortgage and Real Estate for my deals since they've got loads of experience. They have these unique programs that I just can't find anywhere else, and it really gives me an advantage. After researching a number of companies, the offers from Custom Mortgage were the best out there."
