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 are:
- All fulltime and regular part time faculty and staff may participate.
- In cooperation with four participating lenders, 100% of the purchase price can be financed, eliminating the need for a downpayment.
- Single and two family homes, townhouses, and condominiums are eligible.
- The property has to 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 to the program map for a view of eligible neighborhoods.
The University has established a Guaranteed Mortgage Program to assist the faculty and staff in purchasing single or two family homes in these target neighborhoods. A program brochure explaining the Guaranteed Mortgage Program can be obtained from the Syracuse University Real Estate Office or by clicking here. If you would like a copy of our program brochure mailed to you, please contact our office.
The Greater Syracuse Association of Realtors maintains a multiple listing service of homes available for sale through a real estate broker in the Syracuse area which includes the neighborhoods eligible for the Guaranteed Mortgage Program. Please visit their website at CNY Realtor 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. If you need clarification about a property’s eligibility, please contact the University’s Real Estate Office at (315) 443-2104.
Syracuse University also maintains a “Home for Sale by Owner” listing. These are properties in the East Neighborhood or Outer Comstock Neighborhood 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, please click to download the listing form or you may contact the University’s Real Estate Office at (315) 443-2104.