University Homeownership Programs
The University provides a variety of homeownership programs and resources to assist eligible faculty and staff with the purchase of residences in close proximity to campus.
Standard Mortgage Program
Through the Standard Mortgage Program (SMP), the University offers favorable mortgage rates and terms to eligible faculty and staff to help members of the campus community purchase homes within a nine-mile radius of Nassau Hall or within the city of Trenton. The SMP is managed by the Office of University Mortgage Services.
Through the Standard Mortgage Program (SMP), the University offers favorable mortgage rates and terms to eligible faculty and staff to help members of the campus community purchase homes within a nine-mile radius of Nassau Hall or within the city of Trenton. The SMP is managed by the Office of University Mortgage Services.
Tenancy-In-Common Program
Through the University’s Tenancy-In-Common Program (TIC), eligible faculty and staff may enter into a co-ownership agreement with Princeton to purchase residences within a nine-mile radius of Nassau Hall or within the city of Trenton. This arrangement, in which the University pays for and owns up to one-third of the property, leverages buying power and enhances flexibility to help eligible individuals purchase homes that meet their needs and family circumstances. The TIC program is managed by the Office of University Mortgage Services.
Through the University’s Tenancy-In-Common Program (TIC), eligible faculty and staff may enter into a co-ownership agreement with Princeton to purchase residences within a nine-mile radius of Nassau Hall or within the city of Trenton. This arrangement, in which the University pays for and owns up to one-third of the property, leverages buying power and enhances flexibility to help eligible individuals purchase homes that meet their needs and family circumstances. The TIC program is managed by the Office of University Mortgage Services.
Princeton Faculty Residential Purchase Plan
The Princeton Faculty Residential Purchase Plan (PRFPP) enables eligible faculty and staff to purchase homes in desirable neighborhoods near campus at a fair-market value price. Under the terms of the PRFPP, the University retains the option to repurchase a property under specific conditions. The PRFPP is managed by Housing and Real Estate Services.
External Lending Options
The University is actively working to partner with, and has reached preliminary understandings with, several local financial institutions that have expressed an interest in providing mortgage-related products and services to the University faculty and staff, and further have committed to provding superior customer service to members of the University community. The partnerships with external lenders are managed by the Office of Finance & Treasury.