Teachers Smart Mortgage
It’s easier than ever to find the right mortgage that fits your financial needs. Teachers Smart Mortgage program provides several options designed to help you qualify for a mortgage in this fast-paced housing market that’s coupled with a rising demand across the nation.
At Teachers, we’re here to help our members navigate the entire mortgage process. With a variety of loan offerings and helpful resources, Teachers is the smart choice to help more members secure their dream home. From expediting the application process for quick loan decisions to always servicing our own loans, the Mortgage team at Teachers guarantees a seamless and personal experience.
With credit approvals for scores as low as 660, down payments as low as $0, and more flexible loan-to-value (LTV) requirements, these latest offerings give homebuyers expanded access to practical options to finance a home.
Smart Pro
Maximum Loan Amount: $726,200
Down Payment Required:
3% – 1% minimum is required from the borrower
(2% can come from a gift or a community grant)
Minimum FICO Score: 660
Reserves: 2 Months
Maximum LTV: 97%
Smart Select
Maximum Loan Amount: $1,089,300
Down Payment Required:
3% – All funds must come from the borrower
Minimum FICO Score: 680
Reserves: 2 Months
Maximum LTV: 97%
Smart Plus Tier 2
Maximum Loan Amount: $1,150,300
Down Payment Required:
5% – All funds must come from the borrower
Minimum FICO Score: 740
Reserves: 9 Months
Maximum LTV: 95%
Smart 100
Maximum Loan Amount: Finance up to 100%*
Down Payment Required: 0%
Minimum FICO Score: 720
Reserves: 2 Months
Maximum LTV: 100%
Exclusive Offer for Educators
Teachers is Smart For All, especially educators! We believe in educating and providing resources for our members across the nation, so it can be possible for anyone to achieve the dream of homeownership. Members who are employed in the educational system in any capacity may receive an 0.125% APR** off a mortgage product within the Smart Mortgage program.Teachers Smart Mortgage products are available to all new and current members.***
Visit the Teachers Mortgage Center to check rates and receive a customized quote.
A Teachers Mortgage Loan Officer is available to provide additional program details. Schedule a one-on-one appointment with a mortgage expert at a time and location best for you!
Resources & Tools
*According to FHFA 2022 conforming loan limits for mortgages that finance single-family one-unit properties.
**APR=Annual Percentage rate. All rates are subject to change without notice.
***Product features subject to approval. Available for purchase loans only. Membership is required by opening a $1 minimum Regular Savings account. All loans are subject to credit and underwriting approval, certain fees & restrictions may apply. Applicants who are employed (full, part time, retired) in an educational system in any capacity may receive an 0.125% APR off each of the aforementioned Smart Mortgage program products. The aforementioned discount is not available for 7/6 adjustable rate mortgages. For an updated list of where Teachers Federal Credit Union Mortgages are offered, please visit our website. Rates, loan programs, terms, and conditions are subject to change without notice. Other restrictions and limitations apply.