Today, Bellevue School District announced it has become the first Seattle area school district to launch with Landed, a down payment assistance and financial wellness program aimed at helping public school teachers and staff afford to buy homes.
The program provides half of the down payment on a home, up to $120,000 per family, in exchange for a portion of the change in the value of the home when the home is sold. Any gains from this assistance will be re-invested to support an ever-growing number of educators. Landed’s down payment support will be available to all teachers, administrators, and staff who have worked for the district for at least two years.
“As the cost of housing in Bellevue continues to rise, too many of our educators are finding it harder to afford homes in the area,” said BSD Superintendent Dr. Ivan Duran. “We believe Landed will be a valuable solution to help improve school recruitment and retention by providing educators with a new option to help make homeownership more accessible.”
Since its founding in 2015, Landed has already helped more than 100 educators purchase homes in the San Francisco Bay Area, Los Angeles, and Denver. The partnership with Bellevue School District is Landed’s first in the Seattle region.
“As a proud second generation graduate of Bellevue public schools, I couldn’t be more thrilled to bring Landed’s work to the district and its employees who provided me with such a solid education,” said Landed Co-Founder, Alex Lofton. Lofton attended Phantom Lake Elementary, Tillicum Middle, and Sammamish High schools, and his mother is a retired BSD veteran teacher and alumna of the district herself. “It’s a humbling privilege to return something to the community that formed my foundation as an entrepreneur and lifelong learner,” Lofton added.
Interested educators can apply for Landed support beginning today at landed.com.