For the past 10 years, the University’s Employer Assisted Housing Program has helped qualified employees secure housing in areas near the University through forgivable mortgage loans.
Recently, a committee chaired by Executive Vice Chancellor for Administration John E. Klein reviewed the history and objectives of the program and recommended extending the program for 10 years, with some modifications.
“The intent of the program is to help employees and full-time graduate students with their down payment and closing costs to purchase houses in neighborhoods near the University,” Klein said. “The loans from the University are forgivable if the purchaser owns and lives in the house for five years. The program also brings benefits to the neighborhoods by introducing qualified home-buyers affiliated with the University.”
Based on the committee’s recommendations, the following changes have been implemented effective March 1 for the next 10 years of the program:
• The amount of each forgivable loan has been increased to the lesser of 5 percent of the purchase price or $6,000.
• The eligible neighborhoods have been expanded to include DeBaliviere Place and the West End area, in addition to the previously eligible neighborhoods of Skinker-DeBaliviere, Forest Park Southeast and portions of northeast University City.
DeBaliviere Place is bounded west by DeBaliviere Avenue, north by Delmar Boulevard, east by Union Boulevard and south by Forest Park Parkway.
The West End area is bounded west by Hodiamont Avenue; north by the MetroLink right-of-way, West Cabanne Place and Cabanne Avenue; east by Belt Avenue; and south by Delmar Boulevard.
• First-time home-buyers must participate in a home-buying counseling program selected by the program administrator.
For more information, visit eahp.wustl.edu.