Thursday, June 21, 2012

Teachers and home loans: The time is right

Teachers are a great credit risk. The profession is respected and teachers are looked upon as stable employees. Stable employees, means good credit risk. Even with recent education layoffs, most teachers have a solid job, with little chance of getting fired. These and other factors make the chances of getting a home loan quite good for teachers.

Did we mention that mortgage rates are at all-time lows? That's right. Mortgage home loan rates are at the cheapest in history. This makes a perfect storm for buying a home.

If you are a teacher, and not a homeowner yet, what are you waiting for?

The current rate for a 30 year mortgage is 3.66% You read that right. That's cheap. Not too long ago they were double digits. If you bought a home in the late 70's or early 80's, chances are it was over 12 percent.

This very low mortgage rate makes it quite reasonable to buy a home. Yes, the loans are not as free-flowing as they were five years ago. You need good credit, a good income, and probably close to 20% down. But if you can manage it, there may not be a better time in years to come for a home loan.

Public school teachers have other options not available to the general public. HUD has teacher programs that make buying a home even cheaper. Go to: Home Loans for Teachers for more information on teachers and home loans.

Here are some general home buying tips when shopping for a mortgage. The big banks may give you the best interest rate deal, but they are probably a little more selective. Try a big bank first, then shop around. Try a smaller bank. If you are turned down from a large bank, try again at a smaller one. Even local. At this time, they may be more willing to help you get a mortgage. The downside is that they may charge you a little more. But with rates so low, a little more is not much. It is better to be pre-qualified for a mortgage when home shopping. You will know exactly what you can afford.

If you are a teacher who is still renting, what are you waiting for? Get into your own home!

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Monday, June 18, 2012

Need for elementary teachers projected to grow

There is no job that has as high satisfaction as being a teacher. Elementary teachers are no exception. The chance to open up a young mind to the world is an amazing experience. Even though many school districts are experiencing budget cuts and layoffs, the Department of Labor is forecasting that elementary teacher workforce will grow by up to seventeen percent in the next eight years.

Read more on: Average Teachers Salary

One must look closer at the school budget crisis in many states. Large districts are needing to tighten their belts. But even those still will have a high need in certain areas of cities that lack good teachers. Some school sites are just not attractive to some teachers. This is a plus if you think you can handle the situation. Also, special education teachers are always highly sought after. Some states that do not have any budget problems are still funding education and will need teachers. It all depends on where you plan to teach. Some districts in large states have more teachers than they need. But the fact that the elementary teaching profession is expected to grow is a good sign. If you are willing to relocate or take a challenging position in a high risk area, you can still get a job. Not to mention that you may get your student loans forgiven by teaching in these areas.

Every state requires some sort of teacher certification. All must have at least a bachelor's degree. States vary in other requirements. Do some research as to what your state of choice requires. Some even require you to pas a test, like the CBEST Test.

There are alternate ways to become a certified teacher that are available to everyone anywhere. >> For more info, go to: How to become a teacher and get a teaching job.


You can probably work as a substitute teacher while working on certification.