Home Loans for Teachers in Norfolk County, MA 

Reading Time: 3 minutes

In shaping future leaders’ minds, teachers are society’s backbone. Teachers deserve a comfortable place where they can unwind at the end of the day. Many educators, however, feel that homeownership is out of reach because of rising housing costs and interest rates.

The good news is that teachers can achieve their homeownership dream with the help of home loans. Below are some mortgage programs designed to help teachers become homeowners.

What Is a Teacher’s Mortgage?

A teacher’s mortgage is a teacher loan program aimed at helping educators access lower fees, down payment, or closing cost assistance when buying a home.

The programs exist to make homeownership more affordable and manageable for teachers. However, not all teacher mortgages are equal. You should carefully consider your options before making a decision. 

Some lenders provide genuine help, while others are set to lure you with marketing gimmicks.

No matter the program you choose, it’s essential not to go over your head when choosing your loan amount. Assess whether a specialized, standard, or government-backed loan may accord you an affordable home long-term.

Types of Home Loans for Teachers in Norfolk County, MA

Educators may be eligible for down payment assistance and grant programs. Home financing program qualifications are usually based on income levels, property prices, and location. 

The most common home loans for teachers in Norfolk County, MA include.

1. Teacher Next Door (TND)

The TND financing program offers grants to help teachers and other public service professionals afford a home. The program provides a myriad of benefits to teachers, including:

  • Credit counseling
  • Grants of up to $8000
  • Waived closing and appraisal fees.

The teacher-next-door program is compatible with other mortgage programs, such as the Good Neighbor Next Door.

2. Good Neighbor Next Door (GNND)

The good neighbor next door is a financing program designed to strengthen communities in revitalization areas. Qualified borrowers can receive up to 50% discounts for specific state listings.

The U.S. Department of Housing and Urban Development (HUD) finances the GNND program. The home must be your private residence for three years before qualifying. To participate, borrowers must:

  • Find a HUD single-family property 
  • Have a credit score between 500 and 579
  • Verify their employment status and
  • Purchase through the program within seven days

In the GNND program, borrowers are responsible for closing costs and broker fees. You can combine the GNND program with other buying programs if applicable.

3. Home for Heroes

A small group of realtors created the homes for heroes program as a thank-you to heroes who serve our nation and its communities. Home for Heroes is a national program that provides rebates to educators and other public workforce heroes when buying a home.

The program is best used with other programs and incentives to reduce inspection fees and home-buying expenses. Unlike the GNND program, which has location restrictions, you can use the Home for Heroes program to buy any home anywhere, including Norfolk County, Massachusetts.

4. Government-backed Mortgage Loan Programs

Government-backed programs have different qualifying requirements but are generally very easy to qualify for. Therefore, lenders may add additional requirements to the bare minimum. VA, USDA, and FHA loans are the most common home-buying government-backed programs: 

  1. VA Loan: The veteran’s affair mortgage loan is available for veterans, active military, and surviving spouses. As per federal directives, this loan has no minimum credit requirement and does not require a down payment. 

However, your lender may require borrowers with a credit score of at least 580. Additionally, you can only use the VA loan program for your primary household, not an investment home.

  1. USDA loan: The United States Department of Agriculture loans are available to low to moderate-income earners in rural areas. The USDA loan does require a minimum credit score of 640 for eligibility but does not require a down payment.
  2. FHA loan: Funded by the Federal Housing Agency, FHA loans are available for low and moderate-income borrowers. The home financing loan has very low credit requirements of 500, but lenders may require at least 580.

Unlike other programs, FHA loans come with a downpayment of 3.5% of the loan for borrowers with a credit score of 580 and above.

One cannot directly apply for a government-backed loan. Private lenders may issue the loans to any borrower and especially teachers in Norfolk County, MA. Because of federal security, lenders incur no risk in case of default. 

Review the above programs and research others available at the state and local that can help you become a homeowner. In addition to saving as much money as possible, the best programs will streamline the homebuying process for teachers in Norfolk County, MA.

Feel free to contact us with any questions you have about mortgages or home loans for teachers in Norfolk County, MA.


The Local Guide is a passion project of Mike Panza and Justin Rollo of Signal Real Estate. With a goal of educating homebuyers and sellers about the process they are hoping to put their decades of experience to work to assist local residents in making the best decisions and allowing them to achieve their real estate goals.

Leave a Comment