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calstrs option for police officers?

my husband is a police officer - 3 years in the force. we have never purchased a home before. i was looking up loan programs and down payment assistance programs for civil servants etc, and found calstrs. is this a route we could take? by l33pyear82356421 from Azusa, California. Oct 29th 2014 Reply


William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,797 contributions

That program was replaced by CalPath, and it is still being offered.. It's basically an 80% first position conventional mortgage with a 17% 2nd mortgage, and you need 3% down. Because the loan to value on the first is at 80%, there's no mortgage insurance needed.. to find out more details for this program, it's best you contact a local mortgage broker or real estate agent.. its unlikely any of the nationwide lenders or online lenders would be familiar with this program. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Oct 29th 2014
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Antonio Magtoto (amagtotojr)
#858 ranked lender in California - 36 contributions

There are programs out there to consider and there are specialty programs like "Cop Next Door" but you might not like where the properties are located. You can't just pick a home in a neighborhood of your choice and use the program. The program is area specific and some instances property specific. With as little as 3 to 5% down you can qualify for a traditional loan. If you want details contact me. Have a Blessed Afternoon

Oct 29th 2014
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Carlos Hernandez (CarlosH)
#898 ranked lender in California - 30 contributions

One of your options is the FHA Home Loans for Police Officers. If you are a first time home buyer and would like to place as little money down as possible then this is the best option. As mention Law enforcement officers are eligible participants of good neighbor next door, which is a special home buying program for police officers (as well as teachers, firefighters, and emergency medical technicians). For information please feel free to contact me directly at: themortgagegroup1@gmail.com or www.mortgagegroupca.com

Oct 29th 2014
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