Back-to-School, Back-to-Homeownership: A Mortgage Savings Opportunity for Teachers

August means new school supplies, fresh lesson plans, busy classrooms—and for many teachers, a renewed focus on homeownership. As educators head back to school this month, it’s also a great time to look at programs designed to help teachers reduce the costs associated with buying a home.

One program worth knowing about is Homes for Heroes, which offers savings opportunities for eligible teachers and educators who purchase, sell, or refinance a home through participating Homes for Heroes specialists.

Teachers May Be Eligible for Homes for Heroes Savings

Teachers play an important role in our communities, and Homes for Heroes recognizes that service with its Hero Rewards® program.

According to Homes for Heroes, active, former, and retired K–12 teachers and post-secondary teachers and professors may qualify. The program also extends eligibility to certain other education professionals, so if you aren't sure whether your role qualifies, it's worth checking.

Even better, eligibility isn't limited to first-time homebuyers. Homes for Heroes says eligible heroes can use its savings programs whether they're purchasing their first home, moving to a new home, or refinancing an existing mortgage.. 

How Does the Mortgage Benefit Work?

It's easy to think of Homes for Heroes as simply a "teacher mortgage rebate," but the program is a little broader than that.

Eligible teachers can work with a participating Homes for Heroes mortgage specialist, like Imagine Home Lending, as part of their home purchase. We may provide an average savings of $500 on lender fees for qualifies borrowers.

And because Homes for Heroes savings may be used alongside certain other homebuyer programs, an eligible teacher may have opportunities to combine the savings with programs such as FHA, VA, or qualifying down-payment assistance. Program rules and restrictions can apply, so borrowers should review their options with an Imagine Home Lending Loan Officer.

A Smart Time for Teachers to Review Their Homebuying Options

The beginning of a new school year can be hectic, but it can also be a good time to take stock of your financial goals.

If buying a home is on your list for the coming months, consider starting with a mortgage pre-approval. Knowing your potential price range, estimated monthly payment, available funds, and loan options can make the home search much less stressful.

And if you're a teacher, don't forget to ask whether you qualify for programs designed specifically to recognize your profession.

Ready to See What You May Qualify For?

If you're a teacher considering buying a home this year, let's talk about your mortgage options and see how programs like Homes for Heroes may fit into your homebuying strategy.

Your new school year could be the beginning of a new chapter—and maybe even a new address.