Many teachers would like to live and work in the same community. With Seattle home values increasing, the City of Seattle is excited to help our teachers in the path toward home ownership by providing up to $45,000 in additional financing for eligible teachers’ first home purchase.
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For the Teacher Home-buyer Program lender fees are waived and closing costs are reduced. Also, the $45,000 in additional financing is available at a low 3% interest rate with no payments required for 30 years, or until the home is sold. If the home is kept for 30 years the interest rate and any shared appreciation is forgiven.
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All homes within the Seattle City limits with a value up to $362,790 qualify for consideration. Investment properties are not eligible.
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The Program is design to support new, Seattle Public Schools full-time teachers who have not owned a home for 3 or more years and who meet the income parameters. Full-time Seattle Public School instructional assistants enrolled in a teacher certification program also qualify.
| Teacher homebuyer program |
| Income parameters |
| 1-person household | $41,700 |
| 2-person household | $47,700 |
| 3-person household | $53,650 |
| 4-person household | $59,600 |
These limits are based on statistics provided by the office of Housing and Urban Development for the median incomes in Seattle. Additional income limits may apply.
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