Bay Area help Snohomish County teachers buy homes

Local

A San Francisco-based startup wants to help teachers in both Everett and Mukilteo buy their own homes.

The Everett Herald reports the program called Learned would chip in up to $120,000 for half the down payment for teachers and employees in the two districts. In return, participants would then share in any future profit or losses.

“We are a true co-partner, we share on both sides — gains or loss,” said Ian Magruder, head of partnerships at Landed, told the Herald.

The program is also being viewed as a way to recruit and retain staff as housing costs drastically increase across the country. Landed started offering similar assistance to Bellevue School District employees last October (where Landed co-founder Alex Lofton attended school as a child).

Click here for more information: https://mynorthwest.com/1346996/everett-mukilteo-landed-down-payment-homes/