Teachers
Eligible Teachers that carry a bachelors degree or greater within the state of Texas can receive up to $1000 per year credit for their Texas Homestead within their school district.
Although the maximum benefit of our cause would only cost the district $1000 max per eligible teacher annually, the benefit far exceeds that amount for the teacher. By federal law, with an escrow account, the mortgagor pays, in addition to the normal escrow account cost, 2.5 months overage. In a hypothetical scenario of a $200,000 home with normal financing rates, this would save the teacher approximately $200/month for the life of the loan. (Not actualized numbers) We believe not only our teachers but our communities throughout the State of Texas deserve this. We need our teachers to continually support our communities with their influence and presence in our classroom as well as our communities.
Homestead
This benefit only applies for qualified teachers and their Texas residential Homestead in which they live and work. Teachers must be qualified per district resolution. It is a contractual agreement between teacher and the school district by a resolution adopted by the school districts BOD (board of directors). School District BOD is an elected position held within each community. The terms of the resolution are strictly up to the BOD's discretion per Texas Property Tax Code Sec. 31.036. We outline our recommendations by proposal when working with a school district with the intention of qualified teachers recieving full benefits. This does not guarantee the BOD in your district will agree or adopt a resolution. (Though we hardly have ever been known to give up).
OTXT-DPARH
Coming Soon! Our Texas Teachers- Down Payment Assistance Residential Homestead grant.
For more information email info@ourtxteachers.com