You take care of our kids. I'll take care of your home loan.It starts with a plan.
Hi, I'm Wendy, and I'm a mortgage lender. I know how school pay works, from 10-month contracts to summer breaks. I'll explain everything clearly and fit our calls around your school day.
Can teachers paid over 10 months qualify for a mortgage?
Yes. Lenders look at your yearly contract salary, not just the months you're paid. Whether you're paid over 10 or 12 months, your income is usually counted the same way. Coaching stipends, summer school and tutoring can count too when you have a history of them.
Written and reviewed by Wendy Thompson, NMLS #504814 · Updated October 2026
Made for school schedules and school pay
Buying a home shouldn't mean squeezing calls into your planning period.
How school pay is counted
School pay can look unusual on paper. Here's how it's usually handled:
- 10-month or 12-month pay. Your yearly contract salary is what matters, so summer months without a paycheck aren't a problem.
- Your contract. A signed contract or a letter for the next school year can help, especially if you're new or your pay is going up.
- Stipends. Coaching, department head and club stipends can count when you've received them consistently.
- Summer school and tutoring. Extra work can count with a history, usually about two years.
- Aides and hourly staff. Your hours and pay history are what count, and I'll walk you through it.
HUD's Good Neighbor Next Door program
HUD's Good Neighbor Next Door program offers 50% off the list price of certain HUD-owned homes in revitalization areas. It's open to full-time law enforcement officers, firefighters, EMTs and pre-K through 12th grade teachers.
- You have to live in the home as your main residence for 36 months.
- You can't own other residential property when you make the offer, or in the year before.
- Firefighters and EMTs need to buy in the area they serve. Teachers need to work at a school that serves the area.
- Homes are sold as is, and there aren't many available at any one time, so it takes patience.
- You'll need a HUD-registered real estate agent to find the home and submit the offer. I handle the financing.
If you're interested, tell me and I'll help you get your loan ready so you can move quickly when the right home comes up.
Help with upfront costs
For a lot of teachers, the hardest part isn't the monthly payment, it's the cash needed up front. A few ways I can help:
- My SmartStart credit can put 1% of your loan toward your closing costs.
- I'll check whether you qualify for state or local down payment assistance programs.
- If the seller is willing to help with costs, I'll show you how to put that money to the best use.
Timing a move around the school year
Many teachers want to move in the summer. Here's an easy timeline:
- Early spring: talk to me and get pre-approved
- Spring: shop with your real estate agent
- Early summer: go under contract
- Summer: close and move before the new school year starts
If you're changing districts or starting a new position, bring your offer letter and we'll plan around it.
Student loans and PSLF
Your student loans count when you qualify, even if they're deferred or on an income-driven plan, but they don't have to stop you from buying. If you're working toward Public Service Loan Forgiveness, buying a home doesn't change that. Bring your latest statement and I'll show you how it counts.
How it works with me
- Text or call me after schoolTell me what you're looking for and when you'd like to move.
- Share your contract and pay stubsI'll show you how your salary, stipends and summer work will count.
- Get pre-approvedYou'll know exactly what you can afford before you start shopping.
- Shop with your real estate agentYour agent finds the home. I keep the loan ready.
- Appraisal and approvalI take care of the details and keep you updated.
- CloseSign your documents and get your keys, hopefully before the first bell.
What to have ready
You don't need all of this to start a conversation with me. Having it handy just makes things faster when you're ready. Check things off as you go.
0 of 8 ready
Things people get wrong
MythSummer months without a paycheck hurt my application.
FactLenders look at your yearly contract salary, so 10-month pay is counted just like 12-month pay.
MythTeachers can't afford to buy right now.
FactLots of teachers buy homes. The right loan and help with upfront costs can make a big difference.
MythI have to wait until I have tenure.
FactNo. Being in your first years of teaching doesn't stop you from qualifying.
Hi, I'm Wendy Thompson
Teachers give so much, and the homebuying process shouldn't add to your stress. I'll explain how your pay counts, help with upfront costs where I can, and work around your school day.
- Mortgage Planner and Certified Divorce Lending Professional (CDLP), RCS-D
- Licensed mortgage loan originator, NMLS #504814
- The Wendy Thompson Team at World Home Loans, NMLS ID #2726290
I'm a mortgage lender, not a real estate agent. I handle your home loan and work alongside the agent you choose.
Questions from teachers
I'm paid over 10 months. Is that a problem?
Not at all. That's very common, and it's your yearly contract salary that counts. I'll walk you through it.
Can my summer job income count?
Often, when there's a history of it, usually about two years. Let's look at your situation.
Do coaching stipends count?
They can, when you've received them consistently. Bring proof of the last couple of years.
Can I buy if I'm a first-year teacher?
Yes. A signed contract and your work or school history usually go a long way.
Is there a teacher discount?
This page isn't a special discount. It's me, making the process easy for school staff. Teachers may also qualify for HUD's Good Neighbor Next Door program, and I'll check for down payment help.
How does Good Neighbor Next Door work?
It offers 50% off the list price of certain HUD-owned homes in revitalization areas for full-time pre-K through 12th grade teachers and some other professions. You'll need to live there for 36 months, and you'll work with a HUD-registered agent to find the home. I handle the financing.
When should I start if I want to move in the summer?
Early spring is ideal. It gives you time to get pre-approved and shop without rushing.
Do my student loans count against me?
They're included when you qualify, but how they count depends on the loan type. They don't have to stop you.
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Let's make your homebuying plan
Tell me a little about what you're looking for and when you'd like to move. I'll reach out at the time you pick.
Rather talk now? Call or text (901) 461-8858.
This page is for anyone who works in this field. It is not affiliated with, sponsored by or endorsed by any employer, agency or organization.