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.
The Office of the VP For Finance will no longer provide funds at the time of closing. All Funds will be added directly into the employee's pay after settlement.
If you have questions or issues regarding the HPAP form, please contact Payroll at email@example.com