The Home Purchase Assistance Program provides a one-time $5,000 payment to full-time benefited exempt employees to be paid after settlement via Payroll on the purchase of a primary residence. The payment will be taxable income to the employee in the year paid and federal, state and local taxes will be withheld, as appropriate. No more than $5,000 shall be made available per home purchase, regardless of the number of eligible employees owning and residing in the home. The residence must be within commutable distance (50 miles) to campus and must be financed not gifted.
Detailed administrative procedures are available in the HPA application form on the Payroll Website.