Purchase Process | Stanford Faculty and Staff Housing

Step Number 1 Make an Appointment

Contact Faculty Staff Housing for an affordability appointment. We will explain the programs for which you are eligible, take down some financial information, and run a model that shows how much of a house you can afford using all or some of Stanford’s programs based on assumptions you provide.

Step Number 2 Get Pre-Approved

Before you have identified a house to purchase, complete and make an appointment to submit a pre-approval loan application package to Faculty Staff Housing.

Step Number 3 Make an Offer

Using the pre-approval letters that you have obtained from Stanford and a commercial lender, you may make an offer to purchase a home. If you are making an offer on a campus home, you must use Stanford’s contract document available at purchase contract documents. If you are using a real estate professional, work with him/her to complete this process.

View Stanford's Contract Documents

These forms are required for all purchases of campus homes

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Step Number 4 Complete Your Financing

When your offer is accepted, you will need to complete your loan approval. Once you submit a copy of the fully executed purchase contract to Faculty Staff Housing, we will request required disclosures, inspection reports, and further documentation that you will need to provide.

Step Number 5 Sign Documents

Please sign documents at Faculty Staff Housing. You will also need an appointment at the title company to sign additional documents. At this time, the title company will inform you of the exact amount of funds which will be required to complete your transaction.

Step Number 6 Deposit Funds

You will need a cashier's check or wire transfer to deposit funds for the down payment and closing costs in the amount specified by the title company. Deposit this amount at the title company on the business day before the close of escrow.

Step Number 7 Take Possession

The title company will record documents and disburse funds on the close of escrow date. Make arrangements with the seller to transfer keys and take possession of your new home.

Schedule an Appointment

We're available by phone or email. You can expect a response to a message or email within 24 hours.

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FAQs

FAQs for Buyers

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Frequently Asked Questions

1. What is the best way to contact Faculty Staff Housing?

Faculty Staff Housing is available by phone at 650-725-6893 and by email at fshousing@stanford.edu. You can expect a response to a message or email within 24 hours.

2. What housing programs are available for eligible faculty?

There are five financial programs available to eligible faculty who meet defined eligibility criteria and who do not own a home in the qualifying area:

The Housing Allowance Program (HAP) is a taxable fringe benefit that supplements income upon the purchase of a home.
The Mortgage Assistance Program (MAP) is an interest-only loan with a low current interest rate and deferred interest due at payoff.
The Deferred Interest Program (DIP) is a loan with no payments until the principal and deferred interest are paid in full.
The Reduced Interest Program (RIP) is an interest only loan with a low or zero interest rate. There are low or no interest payments and no principal payments until the loan is due. RIP has a 30 year loan term.
The Zero Interest Program (ZIP) is a loan with no payments until the principal is due. The ZIP loan may have a forgivable feature.

Programs may be used alone or in combination (loans must be used in a specific order) with other programs and can be used to purchase a campus or off-campus home. Staff at Faculty Staff Housing are available by appointment to explain the programs and calculate how much of a house you can afford using all the programs. Please refer to the purchase process for more information.