Who May Qualify
This is special mortgage program for California teachers, administrators, school district employees and staff members working for any California K-12 public school, which includes Charter schools and county/continuation schools.
First-Time Homebuyer Definition
To qualify for this down payment assistance program, all borrowers including co-borrowers must reside in the home and must meet the definition of a first-time homebuyer.
For this particular home loan program for California teachers and school employees, a first-time homebuyer is defined as a borrower who has not had an ownership interest in any principal residence or resided in the home owned by a spouse during the previous three years.
- All borrowers must occupy the property as their primary residence within sixty (60) days of closing
- Non-occupant co-borrowers are not allowed
- Non-occupant co-signors are not allowed