Mortgage Assistance Program

The Mortgage Assistance Program is a second mortgage program for eligible faculty with a minimum interest rate (lowest allowable by the IRS). It will be funded with an initial pool of $6,000,000.

Eligible faculty who are approved for a second mortgage through the Mortgage Assistance Program will be able to borrow the lesser of $300,000 or 40% of the “applicable value” of a home.

The loan term will be 30 years, with a minimum monthly payment of accrued interest to be remitted via payroll deduction. There is no requirement to make regular payments to the principal.

Eligible faculty are:

• Full-time, tenure-stream (or equivalent in the Cummings School) faculty as confirmed by their faculty affairs officer and dean
• Within nine years of date of hire
• First-time homebuyer or new hire homeowners moving from an excluded state*

Eligible properties:

• Must secure a primary mortgage from PNC Bank**
• Are within a 50-mile radius of Tufts as outlined in the program terms
• Are in MA

See the complete program terms for full eligibility details.

The Mortgage Assistance Program is administered by the Provost’s Office, and second mortgages through the program will be awarded on a "first come, first served" basis.

To participate, faculty will submit their request to the eligibility review portal via a simple form (see screenshot of sample form). No financial information is needed to confirm eligibility.

Requests will be reviewed first by the faculty affairs officer and then by the dean of the school in which the faculty member's primary appointment lies. Requests that have been approved by both the faculty affairs officer and the dean will be sent to the controller's office.

The Provost's Office will reach out to faculty who have submitted eligibility review requests to share the status of their eligibility request. Once a request has been approved, the controller's office will reach out to begin the next steps in the process.