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

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Great question! By putting your 10% down (and then getting a matching 10% down from Landed), you are putting down a total of a 20% down payment. That means that you qualify for high quality mortgages with lower interest rates, avoid paying mortgage insurance, and
When you put less than 20% down, most lenders require you to buy private mortgage insurance (PMI), which is expensive. It can cost a few hundred dollars a month. Some lenders don’t require PMI but instead charge a higher interest rate if you put less than 20% down, which can also be very expensive.

When you put 20% down, compared to putting 10% down, you make smaller monthly payments because you've taken out less debt.

That means that putting 20% down gives you a lot more homebuying options. With the same monthly payments, you can afford more house with 20% down compared to putting just 10% down.

And that’s what we do at Landed: we help school employees who might otherwise only be able to get to 10% reach that 20% hurdle!

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

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

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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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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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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 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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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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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!

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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.

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

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

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