Stanford’s Faculty and Staff Housing (FSH) Program is designed to help eligible Stanford employees overcome the high cost of Bay Area housing by providing access to special purchase and rental opportunities. The program offers favorable mortgage loans, monthly housing allowances, and the option to purchase long-term residential leaseholds, making homeownership more attainable for faculty and select staff. Eligibility is limited to specific employment categories and appointment terms, with separate criteria for purchase and rental programs. These resources play a key role in helping Stanford recruit and retain top academic and professional talent by making it easier for them to live near campus and become part of the university community.
Stanford’s Residential Ground Lease Program means buyers purchase a long-term leasehold interest in the property, not the land itself, which remains owned by Stanford. This unique structure is only available to eligible Stanford faculty and staff, and comes with specific restrictions and eligibility requirements.
The program offers access to a range of specialized financial assistance options—including low-interest loans and housing allowances—that can be used alone or in combination to make purchasing a home in the high-cost Bay Area more attainable for Stanford employees. These programs are tailored to help buyers maximize affordability and are supported by dedicated staff who guide applicants through the process.
When Kelsey Takaha first met the couple—both esteemed Stanford faculty members—it was during a tour of a charming home nestled in Woodside. As first-time homebuyers, they were enthusiastic yet faced a complex hurdle: navigating the intricacies of Stanford's Housing Purchase Program.
The program, designed to assist eligible faculty, executive staff, and clinician educators with home purchases, has specific and limited eligibility criteria. In this case, only the wife, a doctor at Stanford, qualified for the program, while her husband, a lecturer in geology, did not .
Compounding the challenge, the couple had not yet secured pre-approval for financing—a process that, through Stanford's program, could take up to three months. Despite these obstacles, they were eager to make an offer on the Woodside property.
Understanding the urgency and the program's nuances, Kelsey advised a strategic approach: submit an offer using a pre-approval letter from an external lender to expedite the process. This move would prioritize their application within the Stanford Housing Program, allowing them to move forward with the purchase while awaiting official approval.
This case exemplifies the Oldham Group's commitment to guiding clients through complex real estate transactions, leveraging deep knowledge of specialized programs to turn challenges into successful outcomes.
Strategic Steps to Success
Identified that only one spouse qualified for the program, necessitating careful navigation of eligibility requirements.
Through strategic planning and expert guidance, the Oldham Group and Kelsey successfully helped their clients navigate the complexities of the Stanford Housing Program. The buyers secured their desired home within the 45-day escrow period, leveraging the program's benefits effectively. This case exemplifies the Oldham Group's commitment to overcoming challenges and delivering exceptional results for their clients.
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