To qualify for Landed's down payment program, a homebuyer must meet the following requirements.
- You must be an employee of an eligible employer. It's okay if you are purchasing your home with a co-buyer who does not work at an eligible employer, such as a partner or family member.
- You must have 2 or more years of experience working at any public educational institution (you do not need to have 2 years of experience at your current employer).
A year of experience at a public educational institution means you have worked more than 20 hours per week for at least 12 weeks during the academic year, at a public elementary school, middle school, high school, charter school, college, or university. If you have any questions about this requirement, please email firstname.lastname@example.org.
Note: You do not need to be a teacher. Landed is available for both certificated and classified employees of eligible K-12 public school districts, as well as faculty and staff at institutions of higher education.
- You must qualify for a mortgage with one of Landed's participating lenders. Currently, Landed's participating lenders require that homebuyers contribute at least at least 5% (10% in certain regions) towards the purchase of the home. This can include family gifts.
- You do NOT need to be a first-time homebuyer.
Buying with Landed has a few requirements, too.
- The home must be used as a primary residence for at least the first year.
- The home must be located within an eligible area.
- You must agree to stay with your current employer for at least the next two years. If you choose to leave voluntarily, you may be required to pay back the funds even if you weren’t planning on selling the home.
If you aren’t sure whether you meet all of the criteria, contact us at email@example.com. We’ll make sure your questions are answered promptly.