Landed's shared-equity down payment program invests alongside UC Riverside 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.
Program Highlights
- Landed’s shared equity down-payment assistance program provides an option for employees who cannot benefit from UCOP’s Mortgage Origination Program (MOP), which is limited to academic senate appointment faculty and senior management group staff.
- For every 1% of the home's purchase price initially paid by Landed, Landed will receive 2.5% of the change in value. The equity share percentage is subject to change.
- Landed's program requires a 5-10% down payment, depending on the region, and not all regions are eligible.
- They plan to expand eligibility to Riverside County before the end of the year.
- Landed provides no special terms or discounts for UC employees.
- All employees who work 20+ hours per week are eligible.
- Participants do not need to be first time homebuyers and there are no income or asset limits needed to qualify.
- This would not be a UC endorsement of or partnership with Landed and the appropriate disclaimers should be used. This would be a sharing of an opportunity similar to how other unendorsed local services are shared.
- Landed works with numerous local and national lenders – Landed’s national network of lenders.
Online Information Sessions
Over the next few weeks, Landed is hosting online information sessions for all employees interested in learning more about their services, which include access to $120,000 in shared equity toward down payment on a home. Join Landed at an upcoming info session to learn more: www.landed.com/events
If you are unable to attend an info session or if you would like to connect with a Landed teammate sooner, visit landed.com/signup. An info session recorded in Spanish is available here.
Resources
Contact
Landed
Phone: (650) 451-9075
Email: hi@landed.com
Mortgage Origination Program
For information regarding the University of California Mortgage Origination Program (MOP), please contact the following:
- Trisha Marcinko
Real Estate Officer, Real Estate Services
Email: trisha.marcinko@ucr.edu
Phone: (951) 827-5263
- Yvonne Lujan CPM®
Real Estate Officer, Real Estate Services
Email: yvonne.lujan@ucr.edu
Phone: (951) 827-5154
Disclaimer
Please note: This is not a UCR benefit. Landed works with many employers in several states and is not affiliated with, endorsed, or sponsored by UCR, UC or any UCSF affiliate or UC affiliate.
Any interested employee should independently review and investigate this program to ensure it meets their needs.
Landed’s down-payment support program will provide an option for employees who cannot benefit from UCOP’s Mortgage Origination Program (MOP), which is limited to academic senate appointment faculty and senior management group staff. The two programs will co-exist for the different employee groups.
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