Teacher Homeownership Assistance
Issue: Empowering & Educating Communities
Target Level of Office: State
Policy Origin: Nevada Housing Division, Department of Business & Industry
Poilcy/Bill Number: Teachers First Payment Assistance Program
Link: www.YEONetwork.org/2013policy/?i=244
Summary Narrative of the Policy: Administered by the Nevada Housing Division, the Teachers
First program distributes a limited pool of down payment assistance money to the “highest
and best use” by Nevada school districts to help them attract or retain math, science, or
special education teachers. In this program, each school district is awarded a pro-rata share of
certificates worth up to $15,000 in special down payment assistance. Unlike traditional “lumpsum” up-front down payment assistance, the Teachers First Certificate will allow the qualified
recipient to receive the assistance over a 60 month period.
Relevant Talking Points & Important Information:
• Open to all teachers and staff that meet the eligibility requirements set by the school
district, candidates are invited by the school district to apply.
• This program gives educators and school district staff the opportunity to obtain a Nevada
Division First Mortgage at a 30-year fixed below-market rate.
• Education is the single-most important investment we can make in our nation’s future,
and every child deserves a quality education. However, in order to do that, we must
recruit, retain, and support quality educators and administrators. To accomplish that,
many local and state governments have implemented Good Neighbor or similar housing
assistance programs targeted at teachers –as well as firefighters, local law enforcement
agents, and other public service professionals.
• While the housing market in Nevada has improved in recent years, the state remains
among the those hardest hit by the housing downturn and continues to have one of the
highest foreclosure rates in the nation. Nevada’s home assistance programs – especially
Teachers First – help Nevada families and ensure that the state will not only keep
experienced educators but also recruit highly qualified and diverse candidates to teach
in local school districts.
74
State Level
Policy
2014 Book