Some colleges and universities offer loan programs or financial assistance to graduates to help them purchase a home. These programs are often referred to as “homebuyer assistance programs” or “faculty/staff housing programs.”
One example is the University of California, which offers a Home Loan Program to eligible faculty and staff members. This program provides financing for the purchase of a primary residence, including both first-time homebuyers and those who have owned a home before. The program offers competitive interest rates and a low down payment requirement.
Another example is Columbia University, which has a Homeownership Assistance Program that offers eligible employees forgivable loans of up to $60,000 to use towards the purchase of a home in select neighborhoods around the university’s campuses.
It’s worth noting that these programs are not available at all colleges and universities, and eligibility requirements and loan terms can vary. It’s important for graduates to research and inquire with their alma maters about any available homebuyer assistance programs.
