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Teacher Loans

Slide Show: A Complete Guide to the CalSTRS 80/17 Home Purchase Loan

Updated 2010 Guide to the CalSTRS 80/17 Home Purchase Loan
This is an incredible loan program available to any employee of a California Public School, School District or Community College.
This loan program offered by the California State Teacher’s Retirement System allows for 3% down payment with NO upfront and NO monthly mortgage insurance!
There’s nothing out there [...]

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California State Teachers Retirement System – CalSTRS 95/5 No Down Payment Home Purchase Loan Program

by Scott Schang November 10, 2009 Loan Programs

NOTE: The CalSTRS 95/5 is Suspended Until Further Notice
Program Summary: CalSTRS is the California State Teachers Retirement Program providing retirement related benefits to teachers in public schools and Community Colleges in the State of California. Facts about CalSTRS:

Largest U.S. Teachers Retirement Fund
2nd Largest U.S. Public Pension Fund
CalSTRS assets stands at $164 Billion as of March [...]

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CalHFA Reduces Interest Rates – August 8th, 2008

by Scott Schang November 10, 2009 Uncategorized

In such a volatile market as we’re in right now, on a day when conventional interest rates went up .125%, The California Housing Finance Agency in an unprecedented announcement reduced interest rates across the board.
Rate Reductions are as follows:
30 Year Fixed

Moderate Income Areas Reduced .125% to 6.75%
Low Income Areas Reduced .25% to 6.5%

35 Year interest [...]

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A Complete Guide to the CalSTRS 80/17 Purchase Loan

by Scott Schang June 12, 2009 Loan Programs

The CalSTRS 80/17 purchase loan is available to any employee of a California public school, school district or community college. Members of CalSTRS that are not currently employed are also eligible.
Highlights of this unique program include:

3% down payment
No upfront or monthly mortgage insurance
Qualify off only 80% of purchase price
No payments on 17% second mortgage for [...]

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City of San Jose – San Jose State University Faculty and Staff Homebuyer Program (FSHP)

by Scott Schang November 20, 2008 First Time Buyer Loans

The Faculty & Staff Homebuyer Program (FSHP) is a unique partnership between the City of San Jose, San Jose State University, and Spartan Shops. The goal of the program is to recruit and retain SJSU faculty and staff members to provide a quality education and experience for SJSU students and the [...]

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What you need to know about finding a lender for the CalSTRS 80/17

by Scott Schang October 27, 2008 First Time Buyer Loans

The CalSTRS 80/17 home purchase loan is hands down the best loan program out there if you are an employed by or teach at any California public school or community college.
If you have already attended one of our on-line classes then you know that this loan program simply does not have enough lenders that are [...]