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.
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