Supplemental Home Loan Program
The Supplemental Home Loan Program, or SHLP, was established to provide secondary financing to assist eligible faculty members and members of senior management in the acquisition of a principal residence.
UC Davis SHLP loans may only be used in conjunction with the University’s Mortgage Origination Program (MOP) loans to reduce the cash down payment required to as low as five percent.
Eligibility
The eligible population for the program consists of full-time University appointees who:
- Are eligible for participation in the MOP program
- Are within 2 years of initial appointment start date
- Do not make over $100k annually (gross) and did not receive a Faculty Recruitment Allowance
- MOP/SHLP participation is subject to availability of funding
- Program participation and policies are subject to change at any time
SHLP Overview
- Loan Term: Up to 15 years
- Loan Amount: 3% of purchase price (capped at $25k) to 5% of purchase price (capped at $42k)
- Interest Rate: Same as MOP rate
- Lien Position: 2nd or 3rd
- Fully Amortized over the term of the loan
- Assumability: Loans under this program are not assumable
- Monthly Payment: Made through payroll deduction. Repayment in full is required six months after separation from the University unless separation is due to retirement or disability.
- Prepayment: SHLP loans carry no prepayment penalties
Explore more UC Davis home loan options
For Prospective Applicants
Take a moment to explore the information available and discover how our home loan programs can help make your homeownership dreams a reality.
Have questions or need assistance?
Reach out to our campus Home Loan Coordinator:
- Noelle Reis at [email protected] or 916-501-7708.