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Phone: 972-432-6565 | 713-343-6000 | 877-595-9894

LAMPLIGHTERONE is designed with school Employees and Heroes in mind!

Welcome

LAMPLIGHTERONE

It is our mission and promise to you to always find ways to improve the quality of our services. Please contact us any time for more information about LAMPLIGHTERONE.

LAMPLIGHTERONE is a provider of the teacher home-buying program. It is open to school district and university employees as well as their retirees, that offers special incentives and out-of-pocket savings when buying a home. It is available to teachers and school staffs who register with LAMPLIGHTERONE.


LAMPLIGHTERONE is pleased to service you. This opportunity will insure better service, (faster closings) reduced costs, (lower Fees) and the most competitive rates available. It is our mission and promise to you to always find ways to improve the quality of our services. Please contact us any time for more information about LAMPLIGHTERONE.

Teacher Home-Buying Program

  • What is the Program?

    We offer a 5% down payment assistance grant program TSAHC (Texas State Affordable Housing Corporation) for professional educators who meet income guidlelines, or a tax credit program MCC (Mortgage Certificate program) that will refund you up to $2,000 a year for as long as you are paying interest on your home! These are programs offered by the State of Texas through a number of participating lenders. Please call us to determine your eligibility. Be sure to contact us to learn about additional new and exciting program assistance for first time homebuyers.

    * Part-time employees are eligible if they can demonstrate that the educational institution has provided them with wages for a yearly position.

  • Closing Cost

    The Seller usually pays for Seller closing costs (including commissions) from the money received from the Buyers lender.
    The Buyer usually pays for Buyer closing costs by bringing a cashers check for the closing cost (and down payment). However, LampLighterOne often adds Buyer closing costs to the sales price of the home.
    The Good News: You pay little or nothing at closng.

  • Savings

    The expenses that are paid on behalf of educators are spread between , Lender, and Seller:
    » Lender Credit Check paid by the Lender
    » Cost of Title Insurance paid by the Seller
    » Cost of Transaction Fee not charged by the Buyer
    » Termite Inspection (if required) paid by the Seller
    » Appraisal Fee paid by the Lender
    » Cost of Home Warranty paid by the Seller
    » Buyers Side Commission paid by the Seller
    » Closing Costs paid by Seller for the Buyer
    * Based on a $100,000 Mortgage

  • Restrictions

    » Any home... Any home listed on the Multiple Listing Service (MLS) is available using LAMPLIGHTERONE, including foreclosures and HUD homes.
    » Any area... You can buy a home in any area. For example, you can live outside your ISD boundaries and choose any location you wish.
    » The right loan... We have offered a variety of loan programs for all buyers, the best rates, and superior service for more than 50 years.
    » The best loan... Conventional, FHA, VA, or USDA, or whatever loan best fits your needs!

    * Every Educator and Hero deserves to own the home they love!

  • NEW Group Eligible Heroes

    » Military Personnel
    » Law Enforcement
    » Fire Fighters
    » Health Care Professionals
    » City, County, State and Federal Employees

    * Part-time employees are eligible if they can demonstrate that the educational institution has provided them with wages for a yearly position.

  • MCC Credit Program

    A Mortgage Credit Certificate allows the homebuyer to claim a tax credit for some portion of the mortgage interest paid per year. It is a dollar for dollar reduction against their Federal Tax Liability

    Who is eligible to receive an MCC?
    The program is open to those individuals and families who:
    » Meet income and home purchase requirements
    » Have not owned a home as primary residence in the past three (3) years
    » Meet the qualifying requirements of the mortgage loan
    » Will use the home as their principal/ primary residence

About

At A Glance


Teacher Home-Buying Program

LAMPLIGHTERONE provides for the Teacher Home-Buying Program.

It is for school employees, in cooperation with our selected school districts.

Who Is It For?

If you work for a public or private educational institution, PK-12 or university level, you are eligible. Retired school and university personnel are also eligible for this program.

Get Pre-Qualified

» What can I do about my credit score?
» How much would the bank loan me?
» What would my monthly payment be?
» Do I qualify for a professional education grant?

MCC Credit Program

A Mortgage Credit Certificate allows the homebuyer to claim a tax credit for some portion of the mortgage interest paid per year. It is a dollar for dollar reduction against their Federal Tax Liability

NEW Group Eligible Heroes

» Military Personnel
» Law Enforcement
» Fire Fighters
» Health Care Professionals
» City, County, State and Federal Employees

Get In Touch

Every Educator and Hero deserves to own the home they love!

Please contact us with any questions


Contact

Who Can Participate?

  • Teachers

    Counselor

  • Librarian

    Nurse

  • Administrator

    Secretary

  • Clerical Aide

    Instructor

  • Teaching Assistant

    ROTC Instructor

  • Communities in Schools



  • Instructional Aide

    Part-time Employee

  • Bus Driver

    Cafeteria Worker

  • Maintenance Worker

    Custodian

  • District Retiree

    Security Worker

  • Salaried Worker

    Head Start Employee

  • Campus Police Officer


* Part-time employees are eligible if they can demonstrate that the educational institution has provided them with wages for a yearly position.




Closing Cost

Cash To Close


What Are Closing Cost?

They are the expenses associated with the transaction of buying a home. Some closing costs are: loan fees, title fees, survey, appraisal, attorney fees, couriers, transaction fees, etc. Taxes and homeowners insurance are paid at closing, and are loosely referred to as closing costs although the proper term is pre-paid expenses. These costs amount to several thousand dollars, depending on the price of the home. Both Seller and Buyer have closing costs.

How Are Closing Cost Paid?

The Seller usually pays for Seller closing costs (including commissions) from the money received from the Buyers lender. The Buyer usually pays for Buyer closing costs by bringing a cashers check for the closing cost (and down payment). However, LAMPLIGHTERONE often adds Buyer closing costs to the sales price of the home. The bad news: you pay more monthly. The good news: you pay a LOT less cash at closing.

What Is A Down Payment?

Down Payment is the percentage of the homes sale price that the Buyer is paying upfront. Banks require Buyers to pay a portion of the cost so that the Buyer has money invested in the home. A bigger down payment can mean a lower interest rate. FHA loans currently require the least down payment, which is calculated at 3.5% of the sales price of the home.



Applications

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5120 Woodway Drive, Suite 8030, Houston, TX - 77056

Branch ID: 1301736

Phone: 713-343-6000 | 877-592-9894

201 Tripp Trail, Denton, TX 76207

Branch ID: 1534632

Phone: 972-432-6565 | 877-592-9894


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