UCSF Faculty Housing Assistance Programs
UC offers five housing assistance programs available to UCSF faculty in Academic Senate titles and appointees to Senior Management Group titles: (1) the Mortgage Origination Program (MOP), which provides first deed of trust financing designed to help faculty buy a principal residence near campus; (2) the Interest-Only Mortgage Origination Program (IO-MOP), which features interest-only payments for a specified period of time; (3) the Graduated Payment Mortgage, a loan program featuring an initial interest rate lower than the standard loan rate available in the MOP; (4) the Supplemental Home Loan Program, which provides primary and secondary mortgage financing; and (5) the Faculty Recruitment Allowance Program, which assists eligible faculty through grants. Departments should use the UCSF MOP/SHLP Allocation Request form to request a faculty member's participation.
Mortgage Origination Program (MOP)
The Mortgage Origination Program provides first deed of trust financing designed to help faculty buy a principal residence near campus. Eligible participants can take advantage of convenient financing terms that are generally more attractive than those offered by most lending institutions. The Program provides up to 40-year variable rate loans at maximum amounts of 85% to 90% to value depending on loan size. The maximum annual adjustment, upward or downward, is capped at 1% and is adjusted on the anniversary date of the loan. There is no lifetime cap.
- Program Brochure
- UCSF Specific Eligibility, Parameters, and Procedures
- Interest Rate
- Frequently Asked Questions
- Calculators
Interest-Only Mortgage Origination Program (IO-MOP)
The IO-MOP loan features interest-only payments for a specified period of time (IO-Period) as defined in the promissory note. During the IO-Period, the monthly payments due are based on the interest-only rate (IO-MOP Rate) which is equal to the Standard Rate, plus an additional fee component of .25% and adjusts annually on the Anniversary Date of the note with a maximum annual rate adjustment of 1%, up or down. After the IO-Period, the interest rate will be the then-current Standard Rate, without the added .25% fee component, and the principal balance of the loan will be fully amortized over the remaining term of the loan resulting in a principal and interest monthly payment. Although the maximum overall loan term is 40 years, an IO-MOP loan must have a minimum 30-year amortization period remaining after the IO-Period ends.
Graduated Payment Mortgage (GP-MOP)
The Graduated Payment Mortgage loan features an initial interest rate that is a specified percentage lower than the Standard MOP loan rate in effect at the time of loan commitment. This percentage changes each year so that the difference between the Borrower Rate and the Standard Rate gradually decreases until the rate equals the Standard Rate. In no case can the Borrower Rate be less than 3.0%.
Supplemental Home Loan Program (SHLP)
The Supplemental Home Loan Program (SHLP) provides primary and secondary mortgage financing with variable and fixed rate options. This Program may be used in conjunction with the University's Mortgage Origination Program (MOP) loans. If used in conjunction with a MOP, the combined loans must follow the loan-to-value parameters outlined under the MOP parameters. Program loans can also be used in conjunction with conventional financing to reduce the required cash down payment to as low as five percent.
Faculty Recruitment Allowance Program
UCSF MOP/SHLP Allocation Request
