Stanford University Faculty Staff Housing Assistance

What is 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.

Do you have to pay it back?

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.

Who qualifies?

Stanford University Faculty Staff Housing Assistance is open to buyers who will live in the home as their primary residence.

What are the income limits?

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.

What kind of home can it be used for?

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.

Where does it apply?

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

How do you apply?

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.

1. 1

   Contact the administering agency to reserve funds

   Funds are reserved through Contact provider directly; subject to funding availability, and are subject to availability.

2. 2

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.