California Teachers and Public School Employees
Loans For School Employees (LFSE) specializes in providing a variety of home loan programs available for California public school employees and first-time homebuyers. And, no one works harder than LFSE to assist you in achieving the American Dream of Home Ownership.
Here are just some ways we can help you:
- Loan Amounts up to $834,000;
- 3% down payment programs (even financing costs and fees can be included);
- 620 Min FICO score required; and,
- Competitive interest rates.
We can make your home buying experience simple & easy. That’s why LFSE should be considered “YOUR FIRST LENDING RESOURCE” for all California public school employees.
CalSTRS Home Loan Program Advantages
Low Cost Loans with Many Options
Whether you are dreaming of buying a new home, lowering your existing payments, or taking cash out, the CalSTRS Home Loan Program can help by offering competitive rates on a variety of mortgage loan programs:
- Conventional 15 or 30 year Fixed Rate Program — Competitive rates are available for buying a new home or refinancing to meet your individual needs. Mortgage loan amounts are available up to $834,000.
- Zero Down (95/5) — You can buy a new home without any money down (you must pay closing costs). Mortgage loan amounts are available up to $650,000. Program temporarily suspended due to market conditions.
- 80/17 Program — Qualifying for a larger home mortgage is now available because of the low payment during the 5-year second mortgage deferral period. Mortgage loan amounts are available up to $650,000.
We’re on Your Side
- All program interest rates are set daily and are very competitive in the industry. Click on this link for today's CalSTRS rates: http://www.calstrs.com/Members/Home%20Loan%20Program/rates.aspx
- Receive a FREE 45-day interest rate lock upon submission of your application, to protect you from rising rates.
- In the event interest rates fall after you have applied for your loan, CalSTRS offers you a one time interest rate reduction (float down option) - saving you money.
Your Money Works for You
Income derived from mortgage payments goes directly into the Teachers' Retirement Fund.
Help Your Local School
A charitable donation to a California public school of your choice will be made by LFSE each time you get a loan, buy or sell a home through us.
Additional Teacher Mortgage Programs
Extra Credit Teachers Program through CalFHA or the Community Solutions program through My Community Mortgage.
HOME LOAN INTEREST RATES
Click here for today's traditional home loan rates: http://www.bankrate.com/
HOME BUYER TAX CREDITS
As a first time (or move-up) homebuyer, you may qualify for certain tax credits. Please click on this link for more information. http://www.federalhousingtaxcredit.com/faq1.php
