National Housing Conference Toolkit for Building Employer Assisted Housing Programs

The Employer Assisted Housing (EAH) programs are a solution that aims to help employees achieve homeownership. Firstly, first-time homebuyers can receive down payment and closing cost assistance in the form of a loan that the organization forgives over a 3- to 10-year period or a grant, provided they remain employed. Secondly, employer Assisted Housing programs offer a unified solution to housing, jobs, and transportation issues by empowering organizations to help their employees achieve homeownership, reduce turnover costs, reduce commuting times, and contribute to local community development initiatives.

A Toolkit for Building Employer Assisted Programs

Home.Buy.Now Matching Grant Program

Urban Affairs Coalition’s, Home.Buy.Now program, is one such example. Home.Buy.Now  provides matching grants up to $4000 to homebuyers who receive EAH benefits from their employers. The Pennsylvania Housing Finance Agency and the City of Philadelphia’s Division of Housing & Community Development fund the program, which the Community and Economic Development Department of the Urban Affairs Coalition administers. To be eligible, employees must live in the City of Philadelphia and have an income at or below 115 percent of the Area Median Income. Employers can set their own participation criteria for their employees, including any additional income or geographic restrictions.

SPIN

Nonprofit organization SPIN has participated in Philadelphia’s Home.Buy.Now program since 2002, providing $2,000 in EAH funds to its eligible employees, who are then qualified to apply for a matching grant from the Home.Buy.Now program. Evidently, SPIN has helped 93 employees purchase homes in the Philadelphia area. The employer offers the program as part of a benefits package and requires employees to be employed for one year before using it. In addition, a SPIN representative reported that some employees who benefited from the program have since had children who also work for SPIN and benefit from it, creating a strong network of engaged and supportive employees.

By providing down payment and closing cost assistance to first-time homebuyers, Employer Assisted Housing programs enable organizations to help their employees achieve homeownership, reduce turnover costs, and contribute to local community development.

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