Details about this story

• Source: San Diego Union-Tribune
• Date: May 26, 2007
• URL: Read the story
• Bylines: Danielle Cervantes , Eleanor Yang Su
• Topics: Education , Real Estate
• Data Types: State Data , FOIA
• Description/Excerpt: It's not easy buying a house in the pricey markets where University of California campuses are, including San Diego, Los Angeles and San Francisco. But thousands of UC faculty and senior managers have been able to do just that through generous mortgages financed by the university. UC's housing assistance programs are designed to help recruit and retain key faculty and administrators by offering mortgages with below-market interest rates, minimal fees and terms as long as 40 years. At UCSD, 178 faculty members and administrators participate in the two largest mortgage programs, according to information provided The San Diego Union-Tribune in response to a public records request. Most receive favorable mortgage rates, while some receive assistance with second mortgages or down payments.