Faviola and Jorge R. MEMBERS SINCE 2002

Introducing the School Employee Mortgage Grant

You may be one step closer to home.

Helping school employees become first-time homeowners. 

Lang T. MEMBER SINCE 1998

You've Done the Hard Part. We Can Help Close the Gap.

Buying a home is a milestone. And even when the numbers seem to work, saving enough for the down payment and closing costs can feel like a lot. We can help close the gap. The $7,500 School Employee Mortgage Grant can be paired with our School Employee Mortgage or an Adjustable Rate Mortgage with no PMI to give you the financial boost you need to buy your home.

Learn More?

Talk with a loan consultant to see if you’re eligible for the School Employee Mortgage Grant.

Call (800) 462-8328, ext. 8288, or schedule a consultation.

Frequently Asked Questions

The School Employee Mortgage Grant Program provides $7,500 in grant funds to help eligible first-time homebuyers pay for the down payment or closing costs.

  • Active employment with a school district, elementary, secondary or post-secondary school, with primary income from the school system.
  • Must be a first-time homebuyer or haven’t owned a home or been listed on a home’s title in the past three years.
  • Income limits apply.
  • Home to be purchased as a primary residence in California.
  • Loan amount for the home must be less than $1,000,000.
  • Complete a homeownership education course through Fannie Mae and fund with the School Employee Mortgage loan.
  • At least 1% of the down payment must be the homebuyer’s own funds and full 97% loan-to-value financing is required.

The grant is available for school employees who work for a school district or an elementary, secondary or post-secondary school and whose main source of income comes from that job.

The grant can be used with gifted funds, seller concessions, and SchoolsFirst FCU Home360® rebates and incentives. No cash back is given for unused grant funds.

To use the grant, you must fund your purchase using the School Employee Mortgage or no PMI Adjustable-Rate Mortgage.

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Disclosures

All loans subject to approval. Lending area: State of California. All programs are subject to change without notice. Total funds available for the School Employee Mortgage Grant program are limited and are reserved according to the order in which eligibility is determined. Members who receive grant funds are not eligible to receive an additional grant in the future. Grant funds must be used as the final source of funding to close the purchase, following all other funding sources; for example, seller concessions, and/or other financial gifts or assistance. Contact your tax advisor or accountant to determine tax implications of receiving a grant.

NMLS Identifier: 405503 

Insurance offered by SchoolsFirst Insurance Services, LLC subsidiary of SchoolsFirst Federal Credit Union. CA Insurance License 0I19344. Insurance products: 1) are not NCUSIF insured; 2) and are not obligations of or guaranteed by the Credit Union or any affiliated entities. Insurance products are not available in all states. Purchasing an insurance product from SchoolsFirst Insurance Services is not required to originate a loan with SchoolsFirst FCU.