I have read there are special loan programs for doctors - are there for educators?

The special loan programs for doctor are typically jumbo loan products.. the only program I'm aware of for educators is the HUD "Good Neighbor Next Door" program, where you can purchase a HUD repo home for 50% of it's value.. This program does not allow you to pick any HUD home and purchase it for half, it's only for specific properties that HUD designates available for this program.. In all my years of lending, I've probably had 20 clients look at these properties, and not one of them has wanted the home.. these GNND homes are in the worst of neighborhoods, and usually need lots of work. 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

You may be thinking of the "good neighbor next door" program, that offers selected properties to police, firefighters and teachers, at 50% off retail. This is a great deal!

What area of OK do you plan to reside? I can give you a couple referrals for mortgage loan originators that are experienced OK.

In your area traditional USDA Rural Home Loan or if you're Native American HUD-184 will be beneficial with a low down payment. Also if you would like to purchase a foreclosure HUD has a $100 down program. More loan options at www.todaylending,com

Good morning Tulley,Please see information on the HUD program below. If you woish to pursue further, feel free to reach out to me at your convenience.Regards,Robert L. HansonGladewater National BankFirst Time Homebuyer SpecialistDirect: 240-752-7549Cell: 301-651-7822Email: rhanson@gladewaternational.comNMLS# 695929Good Neighbor Next Door (GNND) "The Neighbor Next Door initiatives are a collection of FHA's home sales programs designed to help communities and promote homeownership," informs the Department of Housing and Urban Development. The Good Neighbor Next Door (GNND) loans allow eligible full-time teachers, firefighters, law enforcement and emergency responders to purchase a prinipal residence at reduced price. The Teacher Next Door and Firefighter Next Door programs were consolidated into GNND. The GNND is a second loan that only works in conjunction with an FHA first (primary) mortgage. Borrowers must certify that they plan to live in the property for at least the first three years of ownership. Eligible properties are single family homes located within hundreds of HUD-designated revitalization areas throughout the country. "HUD provides a substantial incentive in the form of a 50 percent discount off the list price of eligible properties," according to HUD. The borrower must sign a second mortgage for the discounted amount, which is interest-free provided that they fulfill the three-year owner-occupancy requirement. They may keep any equity if they sell the home after this period.

See link which will take you to a list of properties eligible for the program: https://www.hudhomestore.com/Listing/PropertySearchResult.aspx?zipCode=&city=&county=&street=&sState=OK&fromPrice=0&toPrice=0&fcaseNumber=&bed=0&bath=0&buyerType=0&Status=0&sLanguage=ENGLISH

Open Mortgage does offer the USDA loan program in OK. Contact me directly if you need more information at 816-268-5931, 816-914-9685, or saradeere@openmortgage.com.