Buy a home with 1% down with CAL STRS - San Clemente Real Estate

Are you a teacher? Do you work the public school system? If you answered yes to either of these questions, there is a special loan program available to you that is sponsored by California's State Teachers' Retirement System (CAL STRS). Here is how it works: 1st loan = 80%  on a 30 year fixed note 2nd loan = 17% fixed rate Down payment = 3% (you are allowed up to 2% in the form of a gift, balance of 1% is your responsibility) AND.. you don’t have to make payments on the 2nd for the first 5 years!!  There is also a refinance option available (different terms). For more answers on your loan questions you can contact Michael McClare Residential First Mortgage (949) 852- 0400 x217 [email protected] For answers to your home buying or selling questions contact Adrienne (714) 396-2819 or [email protected]