Employee Homeownership Programs

Employers can develop programs to assist their employees in finding suitable housing. Some benefits of an employer-assisted homeownership program is that it helps working families attain affordable housing; reduces turnover in a business; increases productivity among employees; minimizes worker lateness and absenteeism; and boosts employee morale.

One way a homeownership program can work is for employers to add either a withdrawal provision or a loan feature to the company's savings plan to pay for a down payment or security deposit for a home. Employers can provide a match to employee savings to help workers more quickly accumulate funds for a down payment. Employers may also provide direct down payment and mortgage assistance to their employees.