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TO: Deans, Directors and Chairpersons
FROM: Weldon Ihrig, Executive Vice President
RE: Housing Information for UW Employees.
Employees looking for help with housing have a new resource available. The Office of Regional Affairs and the Benefits Office have teamed up to provide information on the wide range of housing programs now available to UW faculty and staff. The information can also assist your recruiting efforts. While housing costs have climbed in recent years, there are a number of programs designed to make housing easier and more affordable for University employees.
For example, the Hometown Home Loan Program offers lower fees and closing costs that can save a homebuyer $1000-$1500. Different loan options are available for first-time buyers, VA/FHA, jumbo loans, remodeling and refinance. Since 1998, more than 1,000 UW employees have taken advantage of this program.
The recently expanded Homeownership Opportunity Initiative offers all UW employees a low downpayment (3%-5%), 30-year interest rate buy-down (by 1/2%), reduced mortgage insurance (by 30%) and lower closing costs. Those with qualifying income levels and buying in Seattle may also be eligible for up to $35,000 in down payment assistance.
UW employees who meet income requirements (80% of area's median income) can also get help saving for a first home. The HomeStart Savings Program helps employees accumulate funds for down payment and closing costs by matching $3 for every $1 they save, up to $5000.
Visiting faculty can get help finding short and long-term rental housing from the Visiting Faculty Housing Service.
The Home Owners Club can assist employees in finding reliable contractors for home improvements and repairs.
More information on these programs and others are available at: http://www.washington.edu/admin/hr/benefits/housing.html The Benefits Office will also be sending the housing information out soon to a broader audience.
Please feel free to forward this e-mail to others for whom it would be of value.