The Teachers Program is a deferred payment, simple interest rate subordinate loan.
Extra Credit Teachers program made easy /Frequently asked questions:
- Is it a GRANT?: NO. it is a simple interest loan that needs to be repaid.
- Who is Eligible: Be currently employed in a County/Continuation or High Priority school. (High priority is defined as a K through 12 public or charter school that has an Academic Performance Index statewide ranking of 1 through 5. Hold an appropriate credential for a teacher, administrator or staff member or be employed as a Classified Employee.
- What properties qualify: Single Family, one-unit residence, PUDS or approved condominiums that do not exceed the sale price limits.
- What properties do Not qualify: Multi unit properties, Manufactured housing, Land Trust, co-ops and non approved condominiums.
- How much is the assistance/loan: The lesser of 3% of the sale price or between $7500 – $15,000 depending on the area. Contact Colleen Craig for eligible areas.
- Are there Sale price limits? Yes, Sale price limits subject to county Contact Colleen Craig for current limits.
- Are there Income Limits? Yes, Income limits vary by county as well. Contact Colleen Craig for current limits.
Contact me to see if this program is still available or if you qualify.