The Syracuse University Guaranteed Mortgage Program was initially established in July 1994 to provide eligible faculty and staff an alternative financing method to purchase a home in designated neighborhoods to the east and the south of the main campus. The Program was expanded in June 2007 to include a section of downtown Syracuse.
Highlights of the program include:
- All full-time and regular part time faculty and staff may participate
- In cooperation with three participating lenders, 100% of the purchase price can be financed, eliminating the need for a down payment
- One- and two-family homes, townhouses, and condominiums are eligible
- The property must be owner-occupied
- Syracuse University guarantees the mortgage, eliminating the need for private mortgage insurance
Eligible neighborhoods are located to the east and south of Syracuse University’s main campus and a section of downtown Syracuse. Please refer the program map at left for a view of eligible neighborhoods.
You can visit CNYRealtor.com to view homes currently on the market. Syracuse University strongly recommends that you verify with the Syracuse University Real Estate Office that the property you intend to purchase falls within the program guidelines for the Guaranteed Mortgage Program.
Syracuse University also maintains a “Home for Sale by Owner” listing. These are properties in the eligible neighborhoods owned by an SU faculty or staff member not listed with a realtor. If you are an SU faculty or staff member who owns a house in these neighborhoods and wish to list your property as being for sale, fill out the listing form or contact the Real Estate Office.