Supplemental Home Loan Program
The Supplemental Home Loan Program (SHLP) was established in March, 1993, to provide below-market-rate secondary financing to assist eligible faculty members and members of the Senior Management Group in the acquisition of a principal place of residence. This Program may be used in conjunction with the University's Mortgage Origination Program (MOP) loans. These loans can't exceed 5% of the purchase price or appraised value whichever is lower.
The Program is designed to provide flexibility to address the affordability needs of borrowers and the funding capabilities of each campus. Campuses/labs are authorized, within any restrictions imposed by federal/state laws and regulations, to determine the loan size, interest rate, term and method of repayment for each loan.
The Davis Campus offers the following financing option:
- Regular Amortized Payments: Provides a fixed monthly payment of principal and interest at 3.5% for a 12 year term.