If you are paying off your Stanford loans through a sale or refinance, your title company will request a Demand for Payoff from us. For cash payoffs, please contact Faculty Staff Housing.
Additional documentation may be required to calculate the deferred interest on the following loans:
- Mortgage Assistance Program (MAP) - The deferred interest is calculated in two different ways and you owe the lesser of the two: (1) based on the maximum note rate or (2) Stanford’s share of appreciation. Faculty Staff Housing can provide a breakeven house value at which #1 and #2 are equal. If an appraisal or sales price is projected to be less than the breakeven value, submit a valid sales contract or request that Faculty Staff Housing order an appraisal in order to reduce your deferred interest obligation. For only method #2, you may be able to further reduce your deferred interest by submitting documentation of Adjustment Improvements and by submitting documentation of real estate agent fees.
- Deferred Interest Program (DIP) - A valid sales contract or an appraisal ordered by Faculty Staff Housing is required to calculate the deferred interest obligation. You may be able to further reduce your deferred interest by submitting documentation of Adjustment Improvements and by submitting documentation of real estate agent fees.