Employers Can Help Potential Employees Buy a Home

October 25, 2004, Chicago, IL – Many qualified employees are lost because when they look at the cost of relocating it is not worth the effort. The employer-assisted housing initiative was created to combat this common problem by providing employers with the tools they need to assist employees in obtaining mortgages.

Under an employer assisted housing program, employees receive benefits that include lower interest rates, the option to buy down current loans, deferment options, and the education employees need to learn about the ins and outs of home buying. This program is an equal opportunity initiative and available to all members of the company or to a particular segment.

While all employer-assisted housing initiatives provide the same general benefits, these benefits can be tailored to meet both the needs of the employers to keep their company performing at its desired level and meet the needs of the employees when looking for a new job. When others are offering extended vacations or use of a company car as a perk, the employers offering EAH (employer-assisted housing) benefits that are unique and enticing.

The plan is beneficial to employers because it allows them to retain more valuable employees but it is also beneficial because the cost is minimal. The type of plan an employer offers dictates the cost to the employer. Retaining these employees can help them save on hiring and training costs, which is much higher than the cost of enrolling in the program.

Employees benefit because they can obtain a home in market that they may not have been able to buy a house in otherwise. The EAH assists with the costs of down payment and the final stage of closing the deal. But most importantly it empowers the employee to learn about home buying.

For more information on employer assisted housing benefits, contact your company’s human resource department.