Supplemental Home Loan Program

The Supplemental Home Loan Program, or SHLP, was established to provide below-market-rate secondary financing to assist eligible faculty members and members of senior management in the acquisition of a principal place of residence.

UC Davis SHLP loans may only be used in conjunction with the University’s Mortgage Origination Program (MOP) loans to reduce the cash down payment required to as low as five percent.

Information on the active UC Davis-wide pause on MOP/SHLP

• In escrow with MOP: will not impact employee’s ability to close on contracted property.
• In possession of pre-approval MOP documents from UCOP: will not affect your current pre-approval.  Unable to renew your pre-approval past its current expiration date. 
• With active MOP authorization: on hold given lack of UC Davis MOP funds. 
• New MOP Inquiries: on hold given lack of UC Davis MOP funds. 

Eligibility

The eligible population for the program consists of full-time University appointees who:

• Are eligible for participation in the MOP program
• Are within 2 years of initial appointment start date
• Do not make over $100k annually and did not receive a Faculty Recruitment Allowance
• For additional restrictions or eligibility questions, contact the program administrator
• MOP/SHLP participation is subject to availability of funding
• Program participation and policies are subject to change at any time

Note: Program participation is subject to the availability of campus funding.

Loan details

• Loan Term: All loans are fully amortized with terms up to fifteen years.
• Loan Position: SHLP loans must be secured on the property by a second deed of trust.
• Loan Type: Fixed rate, short-term loans
• Interest Rate & Loan Size: The authorizing official for each Campus, within any restrictions imposed by federal and state laws and regulations and University policy, will determine the loan size and interest rate for each loan.
• Amortization: SHLP loans are fully amortized. Each campus determines maximum loan amounts and program parameters for their campus borrowers.
• Assumability: Loans under this program are not assumable.