Grants for Teachers
Teaching is one of the most important professions you can choose. In recognition of your commitment to educating the next generation of American citizen, the federal government provides grants that can help you achieve your dreams of homeownership.
The Teacher Next Door program, administered by the U.S. Department of Housing and Urban Development, aims to encourage teachers to purchase homes in low to moderate income neighborhoods. Recipients of these grants for teachers must be employed full time as a state certified classroom teacher or administrator in grades K-12. Grant recipients must be able to prove that they are employed by an educational agency serving the school district in which the home they wish to purchase is located. To receive these grants for teachers, you must be in good standing with your employer.
Teachers who get grants from the Teacher Next Door program receive a 50 percent discount from the list price of eligible property. Homes that are eligible for this program are listed and sold through an online database. All homes are single family dwellings located in selected revitalization areas across the country.
Unlike many other grant programs, the Teacher Next Door program doesn’t require recipients to be a first-time homeowner. However, you cannot own another home at the time you receive these grants for teachers. Another stipulation is that the receipt of grant money is based on your agreement to occupy the home for at least three years. If you fail to fulfill this agreement, you will be required to repay the discount amount. Annual certifications are necessary as part of the occupancy requirement.
Because the homes eligible for the Teacher Next Door program are located in revitalization areas, recipients of these grants for teachers are often eligible for other financial assistance. Your state government housing office can provide additional information on applicable programs and their eligibility requirements.
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