The Teacher Next Door program was designed to increase home ownership among teachers. The program is intended to eliminate confusion by streamlining the home loan and home buying process and by matching the individual with the best program available, based upon the specific needs of the teacher and their family.
Grants for Closing Costs
Teacher Next Door offers private money grants. In Nevada grants of up to $4,170.00 are available to teachers. ALL teachers, grades Pre-K thru 12, as well as school staff and administrators, will qualify for a minimum $1,000.00 non-repayable grant to be used towards the purchase of a home. These grants may be funded, all or in part, by your agent and lending partners and may be used towards your closing cost. Grants available directly through Teacher Next Door and the other programs we utilize, do not ever have to be repaid.
Down-payment Assistance
In addition to our grant programs, we have down payment assistance of up to $10,681.00.
This program is currently available to teachers, police officers, firefighters and EMT’s through HUD’s Good Neighbor Next Door Program. These properties are located in certain revitalization areas and available via a lottery style bid. There are some restrictions, including a three year occupancy requirement.
Features of the Program
- You may purchase ANY home on the market, in ANY neighborhood, as long as it is within the guidelines of your loan approval
- There is NEVER any application fee
- Teacher Next Door will never pull your credit or have access to your personal financial information.
- You do not have to live in a home for a certain period of time. (Except for one or two down payment assistance programs that require a three or five year commitment.)
- If you own a home you may still take advantage of all Teacher Next Door programs and benefits except for the HUD Good Neighbor Program
- Teacher Next Door does not require any classroom home buyer counseling in order to utilize the program.
- You can buy with no money down but there are some restrictions for some of the zero down programs.
3 Steps of the Program
- Pre-Approval
You will need to complete the Pre-Application. Your personal financial information is not collected at this time, so there will be NO credit check. Once your pre-application is received, a Teacher Next Door Program Specialist will contact you to go over your information and explain the program benefits to you, including any grants and down payment assistance you may be eligible for.
- Find the Perfect Home
Once approved, your Teacher Next Door Realtor, of which we are one, will work directly with you to help you find the perfect home. They can provide you with customized lists of homes available and let you tour the inside of the homes you are interested in. Through Teacher Next Door, you may purchase ANY home on the market, not just HUD homes.
- Complete the Purchase
When you find the perfect home, your Teacher Next Door Realtor will negotiate the best possible price while protecting your interest. After your offer is accepted, your Realtor Partner and Loan Officer will work together to handle all of the details for you, including financing, inspections, surveys, appraisals, etc. to ensure a smooth closing and a pleasurable buying experience.
Since Agent Partners agree to contribute a portion of their commission towards your closing cost, to receive the full benefit of the Teacher Next Door Program, you need to be exclusively represented by a Teacher Next Door agent. That’s Us!!
