Syracuse University Live Local Mortgage Program

Administered by: Syracuse University (administered through Solvay Bank) · City · Grant

Funding status: Active

How much assistance

Up to 100% financing with no PMI, plus a forgivable home improvement loan of up to $15,000 (10% of purchase price) (Grant)

The forgivable home improvement loan is a 10-year interest-only loan with principal payable in five equal installments from the 6th through 10th anniversary of closing.

Eligibility

  • Income limits: No specific income limits; must be a regular full-time or part-time Syracuse University faculty or staff member
  • First-time buyer required: No
  • Geographic restrictions: Home must be within program boundaries near Syracuse University campus.
  • Homebuyer education required: No

How to Apply for Syracuse University Live Local Mortgage Program

Step 1: Confirm employment eligibility (regular full-time or part-time SU faculty/staff; new hires eligible from first day or upon receiving appointment letter).

Step 2: Contact Solvay Bank Mortgage Department at 315-484-2205.

Step 3: Identify a home within program boundaries.

Step 4: Complete standard mortgage application through Solvay Bank.

Visit program website

Notes

Available exclusively to Syracuse University employees. New faculty eligible upon receiving appointment letter. New staff eligible from first day of employment. Program guarantees the mortgage to the lender so PMI is not required. Participants receive Solvay Bank best interest rate.

Cities Where This Program Is Available