Saturday, September 19, 2015

Federal Housing Grants For Teachers-HUD Good Neighbor Next Door Program

Federal Housing Grants For Teachers-HUD Good Neighbor Next Door Program

Often teachers find it tough to avail a safe and decent housing with their meager or average income levels. The housing conditions in sparsely populated remote areas or in rural communities are usually below standard, leaving no choice for comfortable and secured housing.
To offer assistance and to maintain recruitment of teachers in rural schools the US government offers federal housing grants to teachers that not only provide a shelter but also covers the expenses of rent. If you are a teacher in need of a safe and affordable housing then look for assistance from the federal housing grants for teachers. You may also apply for special loan programs from states, local governments and agencies.
State Housing Assistance Programs
States in US have special housing provisions for teachers. These have been categorized into two sections. The first section offers housing support to teachers who agree upon the condition to impart education in a school located in remote area or hard-to-staff school for a certain period of time. According to the second section, housing assistance is given to teachers who agree to offer teaching service for a selected number of years. It offers mortgage financing, closing costs or loan forgiving assistance.
Federal Housing Grants For TeachersSome of the teacher state housing assistance programs include: The Mississippi Critical Teacher Shortage Act, Mississippi Moving Expense Reimbursement Program, Georgia Dreams Home Ownership Program, Louisiana Teachers Home Buyer Program, Arkansas Teacher Housing Development Foundation, California’s Extra Credit Teacher Program etc.
Good Next Door Program (Teacher Next Door Program)
The Good Neighbor Next Door Program is administered by the U.S. Department of Housing and Urban Development (HUD) that enables teachers to become homeowners in moderate income neighborhoods or revitalization areas. HUD provides an attractive incentive of 50% discount off the stated home list or purchase price. However, teachers must agree to reside in that property for tenure of 36 months and it must be the sole residence.
Eligible candidates can arrange for their own loans and those qualified for FHA financing have a down payment of only $100. The Good Neighbor Next Door Program is applicable to pre-Kindergarten to 12th grade teachers, administrators, law enforcement officers, emergency medical technicians and firefighters.
Housing for Heroes
Teachers, police, firefighters and health professionals are entitled to benefits if they purchase homes in their working areas. Termed as Housing for Heroes, it offers varied options and benefits like down payment help, tax breaks, subsidized loans, lower interest rates, life insurance, 100% financing, forgiving certain loan portions if the teacher imparts education in understaffed schools or in specific subjects for a given period of time.
Local Housing Assistance Programs
Certain school districts with thin population often offer rented homes to teachers at low or discounted rates to offset their low salaries. These districts also offer homes for rent or sale that are left unoccupied by local residents. It is usually based on a tie up between the districts and the residents.
In addition to these, teachers are liable to state and local grants, assistance from institutions, schools and nonprofits. There are specific programs like the Chicago Public School System that also offer housing grants to teachers. Research and start applying now.

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Federal Housing Grants For Teachers-HUD Good Neighbor Next Door Program Rating: 4.5 Diposkan Oleh: Alannah Huddart


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