Teachers Live Here will provide $25,700* in down payment assistance to HPS teachers. In exchange, teachers will remain employed in the district for at least 5 additional years.
With a strong belief in the impact HPS teachers are having on students and families in the district and with an understanding of the value they bring to the community as a whole, generous community members are investing in Teachers Live Here. This program will provide HPS teachers with the opportunity and the incentive to live where they teach.
Teachers Live Here is aimed at attracting and retaining the best educators to HPS.
13 teachers will be awarded the down payment assistance during the 2023-2024 academic year.
Homes being purchased must be within 15 miles of the district boundaries.
Teachers who purchase homes within the school district will be awarded an additional $2500 to assist with closing costs.
Priority will be given to first-time homebuyers and those purchasing a home within the district.
Homes being purchased must be owner-occupied for five years.
*Teachers Live Here grants in 2023-2024 will increase to $25,700. The increase is in response to a 2.8% increase in the consumer price index in the region since the start of 2023.
- Applicants must have a minimum of one semester teaching in the district with satisfactory evaluation scores OR favorable recommendation from building administrator.
- Applicants must be pre-approved for a traditional mortgage.
- Home being purchased must be within 15 miles of the HPS district boundaries.
- Applicant must provide most recent Federal Income tax return verifying family income below $102,800. (This total was adjusted for inflation in July 2023)
- Once awarded, grant dollars must be used within 6 months.
- A letter from the applicant stating the importance of being a member of the community in which they serve must accompany this application.
- No retroactive applications will be considered. (Teachers Live Here funding can not be used toward an existing mortgage or to refinance a current home mortgage.)
- Priority will be given to teachers with one year in the district with satisfactory evaluation scores.
- Priority will be given to teachers who do not currently own a home.
- Priority will be given to teachers who intend to purchase a home within the HPS District.
- Priority will be given to teachers whose area of certification is an identified need for the district.
- Priority will be given to teachers who have completed a Homebuyer Education program.
Approximate 15-mile radius from HPS District boundary.
The application window is open for the 2022-23 Teachers Live Here cycle.
- Print this application along with supporting documents and submit hard copies at HPS Administration Building.
DOCUMENTS YOU'LL NEED:
- Most recent Federal income Tax Return showing household income.
- Proof of pre-approval for a traditional mortgage.
- A letter from applicant stating the importance of being a member of the community in which they serve.
- Proof of completion of Homebuyer Education program (if applicable).
- The TLH Committee will review applications each month.
- TLH grants are given until all funding for the cycle has been awarded.
- The current Teachers Live Here application cycle will end June 20, 2024.
FREQUENTLY ASKED QUESTIONS
I already own a home in Holland. Am I eligible for a retroactive payment?
Unfortunately, there are no retroactive payments through this program.
If I receive the Teachers Live Here down payment assistance and end up needing to move out of the district before my 5 years is up, will I need to repay all of the $25,700?
This program is designed to retain teachers for at least an additional 5 years after receiving the down payment assistance. However, we understand that some circumstances in life may cause you to move. If that happens, you would be expected to pay back a prorated portion of the money. If you moved after 4 years, it would be the expectation that $5000 would be returned to the program.
Is this program only available to classroom teachers?
At this time, the program is designed to support classroom teachers and all priority will be given to applicants who are classroom teachers.
How often will applications be reviewed?
Applications will be reviewed on a monthly basis until all TLH Grants are awarded.
How long will this program last?
At this time our donor has committed to a minimum of 7 years. It is the hope that others will help maintain this valuable program.
Will all teachers who apply for this program receive down payment assistance?
This program is designed to provide down payment assistance to 10 teachers per year. The committee will review all applications and give priority to teachers purchasing a home within the district, 1st-time homebuyers, and those who have completed a Homebuyer Education Program. The applicant’s letter stating the importance of being a member of the community in which they serve is an important part of this application.
If I receive the Teachers Live Here grant, how will the $25,700 be distributed?
Once the address of the home being purchased is verified, the down payment assistance will be paid directly from the Holland Education Foundation to the lender that will be managing the mortgage.
I am having difficulty finding a home within the district boundaries for Holland Public Schools. Can I purchase a home outside of these boundaries and still be eligible for the Teachers Live Here down payment assistance?
First time home buyers can still be eligible for the Teachers Live Here program when purchasing a home within 15 miles of a Holland Public School, but priority will be given to those purchasing a home within the district. Applicants who own a home and are relocating, must purchase a home within district boundaries.
Still have questions about Teachers Live Here?
Please contact HPS Administration for answers or clarification on issues.