Stanford University Faculty Staff Housing Assistance

Stanford University Faculty Staff Housing Assistance is a deferred second loan for homebuyers in Palo Alto, California. Stanford provides deferred loans and access to below-market housing for eligible faculty and staff purchasing near campus in Santa Clara County. Repaid on sale or departure. Up to $200,000 in assistance. no monthly payments on DPA. Funding comes from University/Employer.

Stanford University Faculty Staff Housing Assistance is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Repayment is triggered by Sale, transfer, or separation from employment. The assistance is recorded in Second position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Stanford University Faculty Staff Housing Assistance is open to homebuyers who will live in the home as their primary residence. On credit, the program states: Minimum 680 FICO score required for all borrowers. Residency requirement: Near Stanford campus. Citizenship or immigration status: U.S. citizen, permanent resident alien, or other eligible non-citizen.

Stanford University Faculty Staff Housing Assistance sets its income limit as follows: Contact program provider for current income limits. The limit applies to total household income, not only the borrower’s. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Stanford University Faculty Staff Housing Assistance caps the purchase price as follows: Contact program for current purchase price limits. Eligible property types include Single-family (1-2 unit), conventional condominium, townhome, PUD. New construction is eligible. Manufactured homes are not eligible.

Stanford University Faculty Staff Housing Assistance serves homebuyers purchasing in Palo Alto, California.

Applications for Stanford University Faculty Staff Housing Assistance go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Contact provider directly; subject to funding availability. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.