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Homeownership for Teachers

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Chat with Alex Lofton and Jess Zhao of Landed, which specializes in helping educators buy homes where they teach!
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How does your help help with interest rates if we're only putting 10% down. In addition to a meager down payment, I also worry abt interest :( Definitely didn't get into this for the money

My honest opinion is that biggest impediment to home ownership for teacher is our bullshit pay.

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Signing off for the day! Looking forward to continuing the conversation tomorrow. Keep the questions coming :)

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How is homeownership impacted by the type of school you teach at (public vs charter vs private)? Do you find one type is better compensated and better positioned for the down payment?

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Landed’s been working with the College Football Playoff Foundation, and we just gave away another $25,000 to help a Bay Area teacher buy a home. We surprised Jenna, 3rd grade teacher this AM.

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What happens if a teacher you work with looses their home to a disaster like a fire or earthquake?

smart

I'm in my second year of TFA, and am thinking of sticking with this teaching thing (crazy, I know). I'm wondering if you have savings accounts I can use to work towards a down payment.

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I'm a leader in our union and am finding what you're talking abut here pretty interesting. Do you think we should talk to our unions about including home ownership in negotiations? How cld we … more

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My score is 620 nothing outstanding but my student loans are killing me. I cant get approve for a house

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likehelpful

What's your favorite story helping someone buy a home? I'm going through the process now and it's so stressful. I need a little positivity :)

likeuplifting

What a great conversation so far! I’m headed to a couple meetings but will check back in soon - keep the questions coming!

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Related to a teacher from Indiana who had to make a big repair, how do you recommend we budget for maintenance? I feel like we can work towards downpayment, but maintenance puts it out of reach.

likehelpful

I recently closed on a home and felt like I had to claw for 10% of my downpayment - didn't do 20. Do you think it was a mistake to not do 20? It just seems impossible as a teacher.

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Over the next couple days, my colleague Jess (who heads all our customer experience work) and I will be popping in and out to take questions on the topic of becoming a homeowner. Hope we’re helpful!

likefunny

Hi everyone!! It’s Jess at Landed here. Excited to answer your questions over the next few days with my teammate Alex. Will be popping in and out until Friday - look forward to chatting!

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Are you aware of any data that shows the effects on educational outcomes in areas where teachers *can't* afford to live in the areas they teach? Would be interested in this.

likesmart

Thanks for doing this! How did ya'll at Landed come up with this idea? Super interesting.

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My fiancé and I are planning to buy a home right around our wedding (we’d need to close next June). Has anyone heard of special programs we can look into? He’s military so we have VA Financing...

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I'm a younger teacher in a high COL area. In terms of wealth building, how does home ownership stack up to other methods like investing in stocks?

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Other than low salaries and high housing costs, what are some of the biggest barriers teachers face when buying a home?

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What resources are there for single income teachers? I'm wanting to buy a house but struggling with my income being the only source.

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What programs or resources do you have available for Texas teachers?

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Is that something that's available to Teachers in Louisiana?

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I like in Oklahoma where I make 34K per year. Houses aren't that expensive but on top of my other expenses, saving for a house seems nearly impossible.

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Glad you are here to answer our questions. How exactly does landed work?

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Ah thank you so much for doing this! My husband and I are planning to dive into this this summer, but frankly it seems impossible. The downpayment thing is pesky

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