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Eligibility — Mortgage Assistance
CSU employees will receive the following assistance up to a maximum of $5,000
based on the criteria below:
- Up to 3% of the loan amount for closing costs and prepaid expenses if the borrower's
household income is less than 50% of
Area Median Income (AMI) or;
- Up to 2% if the borrower's household income is greater than or equal to 50% and less
than 80% of AMI or;
- Up to 1% if the borrower's household income is greater than 80% and less than 100% of
AMI or;
- Up to 2% of the mortgage loan amount for closing costs and prepaid expenses if the
property securing the loan is located in a low-to-moderate income census tract (LMI CT),
regardless of borrower household income.
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Last Updated: January 24, 2005
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