The Brockton Teacher Next Door Program
The Brockton Teacher Next Door Program encourages Brockton Public School teachers to buy or rehabilitate homes in the city of Brockton. It was developed by the Brockton Housing Partnership in conjunction with the Mayor's Office, the Brockton Redevelopment Authority, and other local organizations.
|The Brockton Housing Partnership||Eligibility Guidelines|
|The Brockton Housing Partnership comprises eight local lenders working cooperatively to promote home ownership in the city. Each lender has committed $1 million toward the Brockton Teacher Next Door Program, for a total pool of $8 million. Each lender originates, closes and services loans using its own funds and products. The complete list of lenders is given below.||The program is open to full-time teachers in the Brockton Public Schools who are buying or rehabilitating owner-occupied homes in Brockton. Participants do not have to be first-time homebuyers, and there are no income guidelines except for those who also apply for federal HOME funds. |
|Loan Types||Other Features|
|Below market, long-term, fixed rate loans are available with no points. The rate is locked for 60 days at the time of application, and the individual lender sets the maximum loan size and loan terms. ||Closing costs are capped at $995, not including escrows and title insurance. Eligible participants who purchase single-family, owner-occupied properties may qualify to use HOME Funds distributed in conjunction with the Brockton Redevelopment Authority, as a source for down payments, rehabilitation, and closing costs. Income restrictions will apply. For further information about income guidelines, contact the Brockton Redevelopment Authority at 508-587-6085. |
|In addition to low interest rates, participants in the Teacher Next Door Program receive a number of benefits: |
- Free one-year family membership at the Old Colony YMCA/Central Division
- Free one-year family membership to the Fuller Art Museum.
- 13-week subscription to the Brockton Enterprise at half off the home delivery price.
- Free initial order of basic checks and six months of waived monthly service charges.
|Applying for a loan through the Buy Brockton Program is easy. Fore more details, please call the lender of your choice. |
- Abington Savings Bank/Old Colony Mortgage - (800) 845-2321
- Brockton Credit Union - (800) 244-7592
- The Community Bank - (800) 457-2043
- Crescent Credit Union - (800) 894-4445
- People's Savings Bank - (800) 222-9839
- Plymouth Savings Bank - (800) 649-3330
- Rockland Trust Company - (508) 588-1100
- Security Federal Savings Bank - (800) 649-0993
|City Participants||Community Organizations|
Brockton Redevelopment Authority
Fuller Art Museum
|Local Corporations |
Credit Data of New England
Hayward, Boynton, and Williams
Koretz and Murphy
McCluskey, Yunits, and Buckley
Silverstein and Silverstein, P.C.
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