Loans catering to educators make home ownership possible

Attention: educators in the market for a new home, a loan is available designed to suit your needs.

This loan program, called the Teacher A+ Home Loan program, is available to all teachers, school faculty and staff.

With three new Maricopa Unified School District schools opening next month, it might be just what new and existing MUSD employees need.

The way this program differs from a standard loan is that it allows teachers to claim income they make from a summer job with limited documentation and no time requirements.

“A standard loan requires the borrower to have a two-year history at a job in order to claim it as income. With teachers, a summer job is often part time so it can not be claimed,” said Troy Schuricht, owner of Community First Financial, a company that offers this loan program.

In addition to being able to claim income from their summer jobs, the loan program allows teachers to use what is known as boarder income.

Boarder income is rent a potential roommate may pay the future homeowner.

Community First Financial has been offering this loan program for seven years but reports seeing a drastic increase in activity during the past several months.

“For a while, home prices got so high teachers could not afford them; now that prices are falling back into affordability we are seeing a return to this loan program,” Schuricht said.

The loan is available in both fixed- and adjustable-rate formats, and up to 100 percent financing is available.

For more information visit www.teacheraplus.com.

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