Home / 2021 / December / Announcing a new opportunity to support homeownership

Announcing a new opportunity to support homeownership

To: UCSC Community

From: Lori Kletzer Campus Provost and Executive Vice Chancellor; Sarah Latham Vice Chancellor, Business and Administrative Services

December 01, 2021

The affordable housing crisis continues to make it difficult for many faculty and staff to purchase a home. In an effort to provide more support for employees, UC Santa Cruz has partnered with Landed, a firm that helps employees who work in educational institutions purchase homes by providing up to $120,000 toward a down payment through a shared equity down payment program and by connecting employees to homebuying resources. Through December 31, 2021, any employee who meets with a Landed employee will have access to $150,000 in shared equity down payment funds for 60 days, which can be used toward 15% of a home purchase.

Two informational webinars will be hosted in December. All employees interested in purchasing a home or learning more about the homebuying process are encouraged to attend:

  • Tuesday, December 14 from noon-1 p.m. → Register here
  • Thursday, December 16 from 9-10 a.m. → Register here

Employees who are unable to attend the info sessions can sign up to learn more and schedule a 1:1 consultation with Landed online.

Additional details on the Landed program:

  • Landed's shared-equity down payment program invests alongside UCSC employees to help them reach a 20% down payment. Landed’s funds come in the form of an equity investment, meaning homebuyers share in a portion of the gain (or loss, if any) of the home’s value once the partnership is ended—typically by sale or refinance.
  • The down payment program is one piece of holistic homebuying support that Landed offers, including in-depth homebuyer education, access to a vetted real estate agent network, and comprehensive reviews of property reports to help homebuyers make informed homebuying decisions. Landed also offers an experienced homebuying team to help navigate the homebuying process, from financing to search to close.
  • Landed’s down payment program is open to all UCSC employees working 20 hours or more per week and is available immediately. Participants do not need to be first time homebuyers and there are no income or asset limits needed to qualify.

We hope you are able to learn more at one of these upcoming informational webinars.