Well folks, it’s been real! Loved our stint over the past few days and looking forward to more of this in the near future; you can always find us at Landed.com! Now, get out there and enjoy the weekend! -A&J
Homeownership for Teachers
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
Signing off for the day! Looking forward to continuing the conversation tomorrow. Keep the questions coming :)
I really love this recent blog post by my colleague D’Andre, who has been managing our $25,000 down payment giveaway connecting the giveaway to other direct philanthropy: https://www.landed.com/blog/robert-smith-amplifying-the-urgency
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?
When you feel like you’re alone in this, you’re not. Sadly. Here’s a relevant write up on the challengers of living in expensive cities: https://www.landed.com/blog/ny-times-fight-to-keep-teachers-in-tech-hubs
A couple good posts by others re: tips on saving for a down payment NerdWallet: https://www.nerdwallet.com/blog/saving-for-a-down-payment/ Credit Karma: https://www.creditkarma.com/home-loans/i/how-to-save-for-house/
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.
What happens if a teacher you work with looses their home to a disaster like a fire or earthquake?
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.
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 do this?
My score is 620 nothing outstanding but my student loans are killing me. I cant get approve for a house
And, if you’re hoping we’re genies to tell you the perfect time to buy, sorry to burst your bubble! :-) That said, Jess and my co-founder Jesse wrote on the topic: https://www.landed.com/blog/right-time-to-buy-a-home
Although not everyone we work with at Landed are first time buyers, many are, so we wrote up this post on 10 things a first timer should know: https://www.landed.com/blog/ten-things-a-first-time-homebuyer-should-know Check it out!
There is an epic thread going on about how little we are paid - truly shocking. I'm curious - what's the avg. downpayment you see teachers making? https://joinfishbowl.com/post_5s8xve
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 :)
What a great conversation so far! I’m headed to a couple meetings but will check back in soon - keep the questions coming!
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.
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.