UK's Employer Assisted Housing Program
For eligible employees, this program provides:
- “Forgivable loans” of up to $15,000 in the
designated neighborhood revitalization areas to eligible
employees for down payment and closing cost, rehabilitation
and renovation assistance for the purchase of houses, condominiums,
town houses and duplexes.
- The loans will be secured by a lien on the property.
- Each employee agrees to live in the home purchased through
this program for at least five (5) years, after which the
lien will be removed.
Eligibility Requirements: Employee eligibility is defined as follows:
- New Regular Full-Time Faculty at the rank of
instructor or assistant professor without tenure or non-tenured
immediately upon receiving a contract for the academic year.
- Regular Full-Time Faculty at the rank of instructor
or assistant professor, without tenure or non-tenured.
- Regular Full-Time Staff Employees at grade level
46 or below (grade 10 or below for hospital positions) after completing the 90-day employment orientation
period.
