Rupert Elementary 3rd Grade Teacher, Jamie Fazekas is the third Pottstown School District Employee who has been awarded a $10,000 forgivable loan through the Foundation for Pottstown Education Residency Program. This program provides eligible applicants who work for the Pottstown School District, up to $10,000 in the form of a forgivable loan. The funds can be used for closing costs, down payments, or other expenses directly related to the purchase of property determined to be eligible for the program.
Jamie applied for this loan in November and was approved before Thanksgiving. She closed on her new home the first week of December. This is the first home purchase for her and she is extremely happy with her new residence.
The $10,000 loan will have 20% forgiven each year in which the homeowner remains an employee of the Pottstown School District and lives in the residence as their primary home. After five years, the loan is completely forgiven. Should the employee move or leave the Pottstown School District, the remaining balance of the loan is then due to be before paid back to the Foundation.
Congratulations, Jamie and welcome home.