Down Payment Aid for Educators: Grants to Help Teachers Buy First Homes.
This Act establishes a new federal grant program providing financial assistance to public school educators and staff to purchase their first home. Eligible school personnel can receive up to $25,000 for down payment or closing costs, aiming to improve housing stability for those in the education system. Recipients must commit to occupying the home and continuing their educational role for at least three years after receiving the funds.
Key points
First-time homebuyer educators (teachers, principals, staff) can receive up to $25,000 for down payments and closing costs, with higher amounts possible in high-cost areas.
Eligibility requires at least 3 years of service in the education system and meeting specific income limits (generally up to 120% of the area median income).
Recipients must agree to use the property as their primary residence and continue working in their educational role for a minimum of 3 years, with exceptions for emergency events.
Expired
Citizen Poll