Home lending program for teachers

Teachers, school employees and other California Public Employees' Retirement System beneficiaries are eligible for 100 percent, 30-year fixed government loans at 6.25 percent, according to Steve Carrigan of Pinnacle Financial, Camarillo.

The loans are safe, stable options for the purchase or refinancing of a home, said Carrigan, and are available to all school employees who work at high-need schools, which are schools with an Academic Performance Index rating of five or lower.

For those eligible, benefits include up to $22,500 in deferredpayment down payment funds. A portion of the interest on this financing includes a nointerest loan after three years of service at a highneed school.

The programs are open to anyone who has not owned a primary residence in the last three years and to veterans.

Households in Ventura County who earn up to $113,981 per year can qualify for this program. For more details, call (805) 389-0282.