Mortgage Program

Update September 2018

 

In September 2018, the College approved enhancements to the Mortgage Program to allow for eligible faculty and administrative staff who may own properties elsewhere to make use of the program.  The changes will be published in the FY20 faculty handbook, but are effective immediately.  The updated language is captured in the following document:  Revised Mortgage Benefit.

The College makes subsidized mortgages available to eligible faculty and administrative staff in order to assist them in acquiring homes in the Williamstown area. This benefit is intended to help these employees when first entering the Williamstown area housing market.

The mortgage benefit is available for houses in Williamstown and towns within a 50 mile straight line radius of Williamstown.  880 Main Street, Williamston, Massachusetts will be the address of record for measurement purposes. All properties within a town proper / zip code are considered eligible for the mortgage benefit as long as some portion of the town proper / zip code resides within the 50 mile radius, even if the property itself is slightly more than 50 miles from 880 Main Street.

For more information on the College mortgage program, please refer to Section III-G: Faculty and Administrative Staff Housing, Mortgage Benefit of the Faculty Handbook and the Administrative Staff Handbook, Benefits: Other.

Please contact Matt Sheehy, Associate Vice President for Finance, at [email protected] or Bobbi Senecal, Real Estate and Housing Coordinator, at [email protected] with any questions.