California Teachers and Employees

Ok, it’s come to the point where I can no longer brush this off as a coincidence.  The conversation that I am having over and over again goes something like this…..

“Hi Scott, I am in the process of buying a home and was qualified for a Teacher loan (Extra Credit Teacher Program or CalSTRS 80/17) and my loan officer just told me that the underwriting guidelines have changed and I no longer qualify for this program.

I was doing some research on the internet and ran across your blog.  Have there been any changes?  I can’t seem to find anything to back up what i’m being told by my loan officer.  Please help!”

This is not an actual conversation ver batim but I assure you it’s really, really close!

Here’s what the “other guys” don’t want to tell you - They don’t like to offer these loans because…ok, brace yourself…….drum roll please……..They don’t make a lot of money giving you one of these special loans.

Can you believe it?  I know you’re shocked that a loan officer or lender would actually ignore the best interest of their client just to make more money for themselves……Come on Scott, that doesn’t happen.

I know I sound a little irritated and even bordering on hostile as I write this and I guess it’s because I am.

I sincerely hope that you have run across this post because you didn’t take “no” for an answer.  I want you to know that although there are often changes in loan qualification guidelines, there have been relatively few changes in these programs.

The reason why there is little information out there about these programs is that lenders and loan officers are not eager to work for a reasonable wage and help a segment of our community that quite frankley does not get enough credit for the contributions you make to society.

Ok, I feel a little better now that I’ve gotten this off my chest.  I’ve put together a bunch of resources for you and we hold free web classes regularly to educate teachers, public employees and first time home buyers about these special programs.

Click Here for these valuable resources

There are links all over this site to contact us for more information or you can call my cell phone anytime.  I can be reached at 714-336-8286.  The office number is 866-667-6724 and anyone here will give you an honest answer and look out for your best interest.

The Extra Credit Teacher Program provides for a 3% loan that can be used for down payment assistance for California Teachers that work in high priority schools.  The interest on this loan is waived after 3 years of working in a high priority school.  There are no payments due on this loan until you either refinance, sell, or pay off the first mortgage.

A high priority school is one that is defined as having an Academic Performance Index (API) ranking of 5 or below.  To find out if your school qualifies for this program - Search API Ranking Here

Who Qualifies for the CalHFA Extra Credit Teacher Program

For Teachers: (Credential held must be either a Preliminary or  Full Credential.  Intern Credentials and Emergency Permits are not eligible under the program.)

• Single Subject Teaching Credential
• Multiple Subject Teaching Credential
• Specialist Instruction Credential in Special Education
• Education Specialist Instruction Credential
• Standard Elementary Teaching Credential
• Standard Secondary Teaching Credential
• Standard Early Childhood Education Teaching Credential
• Standard Restricted Special Education Teaching Credential
• General Kindergarten-Primary Teaching Credential
• General Elementary Teaching Credential
• General Junior High Teaching Credential
• General Secondary Teaching Credential
• Special Secondary Teaching Credential in Art
• Special Credential for Teaching Exceptional Children
• Special Secondary Teaching Credential in Business Ed
• Special Secondary Credential for Teaching the Blind
• Special Secondary Teaching Credential in Homemaking
• Special Secondary Teaching Credential in Industrial Arts
• Special Secondary Credential for Teaching Lip Reading
• Special Secondary Teaching Credential in Music
• Special Secondary Limited Teaching Credential in Music
• Special Secondary Teaching Credential Limited in Agriculture
• Special Secondary Credential for Teaching the Partially Sighted Child
• Special Secondary Teaching Credential in Physical Education
• Special Secondary Speech Arts
• Special Secondary Teaching Credential in Correction of Speech Defects
• Special Secondary Credential for Teaching the Mentally Retarded

For Administrators :

• Administrative Services Credential
• General Secondary School Administration Credential
• Administrative Services Credential (Examination)
• General Secondary School Supervision Credential
• Standard Supervision Credential
• General Administration Credential
• Standard Administration Credential
• General Supervision Credential
• General Elementary School Administration Credential
• The Supervision Credential
• General Elementary School Supervision Credential
• General School Principal or Supervisor Credential

For Staff Members:

• School Nurse Credential
• Clinical or Rehabilitation Service Credential
• Pupil Personnel Services Credential - (e.g. School Counseling, School Social Work, School Psychology and Child Welfare and Attendance)
• Library Media Teacher Service Credential
• Designated Subjects Vocational Education Teaching Credential

There may be other qualifications, please feel free to Get More Info here or call us at 866-667-6724.