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Selected Programs by State
Connecticut
Urban Rehabilitation Homeownership (UR Home) Program:
Down-payment and closing-cost assistance for state and municipal employees and employees of participating private-sector partners in Bridgeport, Hartford, New Haven, New London, Waterbury, and Willimantic. Administered by the Connecticut Housing Finance Authority.
www.chfa.org/MainPages/URHomeProgram-2006.htm
District of Columbia
Howard University-LeDroit Park Neighborhood Initiative:
Howard University and local CDCs partnered with Fannie Mae as part of their University-Community Partnership Program. Offers grants for closing-cost assistance.
www.fanniemae.com/initiatives/alcp/ledroit/initiative.jhtml?p=Initiatives
D.C. Employer Assisted Housing Program
Administered by the District of Columbia’s Department of Housing and Community Development. Qualified government employees can receive interest-free and low-interest loans for the first-time purchase of a house, condominium, or cooperative apartment.
http://dhcd.dc.gov/dhcd/cwp/view,a,1243,q,615576.asp
Illinois
Regional Employer-Assisted Collaboration for Housing (REACH): www.reachillinois.org
Maryland
House Keys 4 Employees:
Administered by the Maryland Department of Housing and Community Development (DHCD), this program will match employer contributions dollar-for-dollar, up to $5,000, toward downpayment and closing costs for homebuying employees receiving a Maryland Mortgage Program loan. There is a Smart Growth enhancement to the program (Smart Keys 4 Employees) that doubles the DHCD match for borrowers that buy homes in Priority Funding Areas and within 10 miles of their place of employment or within the boundaries of the local county.
http://www.morehouse4less.com/hk4Employees.aspx
Baltimore City Live Near Your Work:
The City of Baltimore provides matching funds of up to $1000 for employer contributions to the down payment and closing costs of employees who purchase homes in targeted city neighborhoods near their worksites.
www.livebaltimore.com/homebuy/lnyw.html
Michigan
Michigan State Housing Development Authority Employer Assisted Housing Program:
Works with employers to create housing benefits programs and contributes a zero-interest down-payment loan of up to $5,000.
www.michigan.gov/mshda/0,1607,7-141-41342_42028-165141--,00.html
Minnesota
Greater Minnesota Housing Foundation:
www.gmhf.com/programs/eah/program_profile/EAH.htm
First Homes, Rochester:
Mississippi
Mississippi Housing Assistance for Teachers:
Forgivable loan of up to $6,000 toward down payment, closing costs, or PMI for teachers who agree to serve at least three years in a district with a teacher shortage.
www.mshomecorp.com/homebuyers/hat%20program.htm
New Jersey
Close to Home New Jersey:
Administered by the New Jersey Housing and Mortgage Finance Agency, along with Fannie Mae and participating employers.
www.state.nj.us/dca/hmfa/consu/buyers/close/assisted.html
Pennsylvania
Employer Assisted Housing Initiative:
Administered by the Pennsylvania Housing Finance Authority, this statewide program combines existing state closing-cost assistance and below-market interest rates with employer housing benefits. In addition, participating lender Keystone Home Loan offers a program that targets families with children or disabled individuals at or below 80 percent of their county’s median income.
www.phfa.org/consumers/homebuyers/employer_assisted_housing.aspx
University of Pennsylvania West Philadelphia Initiatives:
Employees of the university can receive a five-year forgivable loan of $7,500 to purchase a house in a targeted area of West Philadelphia. The loan can be used for a down payment, closing costs, or home improvements.
www.upenn.edu/campus/westphilly/housing.html
South Dakota
South Dakota Employer Mortgage Assistance Program:
Very low-interest second mortgages contingent upon a five-year commitment to stay with the participating employer. Funded by employers and State Homeownership Bond Reserves.
www.sdhda.org/Homebuyer/ho-emap.htm
Virginia
Arlington County Workforce Housing Initiative:
Employees of participating employers have access to closing cost assistance if they use participating businesses and flexible mortgages and down-payment assistance through Freddie Mac's Workforce Home Benefit. They also get the first chance to buy certain below-market units throughout the county.
www.arlingtonva.us/Departments/CPHD/housing/initiative/ CPHDHousingHousing_InitiativeMain.aspx
Washington
Hometown Home Loan Program:
www.homestreet.com/programs/about/index.aspx
Technical Assistance Providers
1. Freddie Mac. Freddie Mac's Workforce Home Benefit, launched in 2004, is a package that helps employers set up an EAH program and offers special loan products and assistance to those participating. Also, since June 2005, Freddie Mac has permitted employer-assisted housing programs access to all lending products, such as the Alt97 program, HomeWorks, Affordable Gold 5, Affordable Gold 3/2, and lease-purchase programs.
www.freddiemac.com/corporate/about/how_we_help/underserved.html (scroll down to find the WHB description)
2. HUD HOME Program. HOME technical assistance funding can be used for the development of EAH programs.
www.hud.gov/offices/cpd/affordablehousing/programs/home/index.cfm
3. Neighborhood Reinvestment Corporation’s NeighborWorks® Network. NeighborWorks® organizations (once called Neighborhood Housing Services) have administered a number of EAH programs nationwide. Local NHS groups may be able to provide technical assistance for program startup, or may be potential administrative partners.
4. Metropolitan Planning Council. Using their experience from creating the REACH program, MPC offers employers and community organizations throughout the country technical assistance in EAH program development and implementation, strategic employer outreach, and policy reform strategies.
www.metroplanning.org/ourwork/articleDetail.asp?pageID=3&objectID=3286&categoryID=2
Additional Materials
Afshar, Anna. “New Arguments for Employer Assisted Housing.” New England Community Developments (Federal Reserve Bank of Boston) Issue 1, 2006.
Fannie Mae. Employer Assisted Housing: Improving the Bottom Line and Unlocking Doors to Homeownership for your Employees. Washington, D.C.: Fannie Mae, 2003. Available from www.seacoastwhc.org/EAH-Fannie Mae.pdf.
Florida Housing Data Clearinghouse. Topic: Workforce Housing, Subtopic: General Reports. List of links available at http://flhousingdata.shimberg.ufl.edu/apps/library.pl?topic=8&subtopic=3
Hoereth, J. K., Packnett D, and Perry, D.C. University Employer-Assisted Housing (Working Paper). Cambridge, MA: The Lincoln Institute for Land Policy, 2007. Available at www.lincolninst.edu/pubs/PubDetail.aspx?pubid=1250.
Illinois Housing Development Authority. Building For Success: Illinois’ Comprehensive Housing Plan. Chicago: Illinois Housing Development Authority, 2005. Available at www.ihda.org/Downloads.aspx?FileCategoryID=9&SetSearchString=Comprehensive
Jennings, Stephanie. “Reinventing the Company Town: Employer-Assisted Housing in the 21st Century.” Housing Facts and Findings (Fannie Mae Foundation) Volume 2, Issue 2 (Summer 2000). Available at www.fanniemaefoundation.org/programs/hff/v2i2-company_town.shtml.
Larson, Jennifer. Employer Assisted Housing Resource Guide. St. Paul, Minn.: Greater Minnesota Housing Fund, 2002. Available from http://gmhf.com/Publications/eah/eah_guide.pdf.
McCarron, John. “Closer to Home.” Metropolitan Planning Council, March 19, 2002. Available at www.metroplanning.org/articleDetail.asp?objectID=956.
Metropolitan Planning Council. “Employer-Assisted Housing 2006 Year-End Report.” September 12, 2007. Available at www.metroplanning.org/resources/4050.asp?objectID=4060&categoryID=2
National Housing Conference. "Private Sector Partnerships: Investing in Housing and Neighborhood Revitalization." NHC Affordable Housing Policy Review, Volume 3, Issue 2 (June 2004).
Pill, Madeleine. Employer-Assisted Housing: Competitiveness Through Partnership. Cambridge, Mass.: Joint Center for Housing Studies of Harvard University and Washington, D.C.: Neighborhood Reinvestment Corporation, September 2000. Available from www.jchs.harvard.edu/publications/mpill_W00-8.pdf.
Rieke, Ann. Employer-Assisted Homeownership. Minneapolis, Minn.: East Side Community Outreach Partnership Center, 1999. Available from www.cura.umn.edu/publications/COPC-reports/copc003.pdf.
Schubert, Michael. Housing for a Competitive Workforce: Homeownership Models that Work. Metropolitan Planning Council, April 1998. Available from www.metroplanning.org/resources/119intro.asp?objectID=119.
Schwartz, D. C., Hoffman, D. N., and Ferlauto, R. C. Employer Assisted Housing: A Benefit for the 1990s. Washington, D.C.: BNA Books, 1991.
Snyderman, Robin. “Making the Case for Employer Assisted Housing.” Shelterforce Issue 141 (May/June 2005). Available at www.nhi.org/online/issues/141/EAH.html.
U.S. Department of Housing and Urban Development. Employer-Assisted Housing and the HOME Program. HUD-2019-CPD, May 2000. Available from www.hud.gov/offices/cpd/affordablehousing/library/modelguides/2019.cfm.
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