CALSTRS Home Loan Program

I saw this and thought it was some great info:

CALSTRS California State Teachers’ Retirement System
Home Loan Program
80% First/ 17% Silent Second/ 3% down payment

LOAN FEATURES

· Only 3% Down Payment Required (2% can be a gift)

· No Mortgage Insurance

· No payment on Second for 5 years

· Borrower Qualifies on 80% Loan to Value - they can purchase 17% more in sales price