University of Southern CaliforniaReal Estate & Asset Management

1. One-Time Subsidy (subsidy paid by the school)
2. Monthly Mortgage Subsidy (subsidy paid by the school)
3. Monthly Rental Subsidy (subsidy paid by the school)
4. University Short-Term Loan (interest payments may be subsidized by the school)
5. Shared Appreciation Loan (interest payments are subsidized by the school)

Down-Payment: At least ten percent (10%) of the purchase price is required from personal resources under the university short-term loan or shared appreciation loan options.

Application endorsement is required by the dean of the school (for executive staff; the President, Provost, or Senior Vice President for Administration) before forwarding a subsidy application to the Real Estate & Asset Management office for final approval.

Subsidies are considered part of the compensation package. All subsidies are subject to withholding for income and employment taxes. Monthly subsidy payments will be included in the individual’s pay as supplemental salary for a fixed number of years. Income tax is incurred on the portion of the loan forgiven each year, per the loan forgiveness schedule. Payroll Services will report the amount of interest subsidy that is below the IRS Applicable Federal Rate. The employee will receive a W-2 each calendar year that reports all taxable income received from the University including subsidized mortgage interest below the Applicable Federal Rate. For current IRS rates refer to “Table 1” for the appropriate month of loan funding at the IRS Website.

Download the Faculty & Staff Housing Application

Address for all mail correspondences:

USC Faculty & Staff Housing Program
Attn: Lisa Rediger
USC Real Estate & Asset Management
University Park Campus
UGW-110
Los Angeles, CA 90089-7271

Address for all deliveries, couriers, Fed Ex and UPS packages

USC Faculty & Staff Housing Program
Attn: Lisa Rediger
USC Real Estate & Asset Management
3335 S. Figueroa, Unit G
Los Angeles, CA 90007

Lenders familiar with the FSH Process:

USC Federal Credit Union
Attn: Christine Schwarz
1025 W. 34th St.
King Hall, 2nd Floor
Los Angeles, CA 90089
Phone: 213-821-7114
Fax: 213-740-7047
E-Mail: cschwarz@usc.edu

Bank of America
Attn: Uma Srinivasan
7550 Teague Rd., Suite 103
Hanover, MD 21076
Phone: 410-540-5249
Fax: 866-518-8991
E-mail: uma.srinivasan@bankofamerica.com

First Centennial Mortgage
Attn: Ron Meridith
2100 Main Street, Suite 102
Irvine, CA 92614
Phone: 949-625-4777
Fax: 949-203-8784
E-mail: r.meridith@gofcm.com

Wells Fargo Bank - Private Mortgage Banking
Attn: Keith Prendergast
Phone: 310-285-5783
Fax: 310-285-5803 Email: keith.a.prendergast@wellsfargo.com

Surety Financial Services
Attn: Matt Arrillaga
15060 Ventura Blvd., Suite 380
Sherman Oaks, CA 91403
Phone: (818) 386-6666
E-mail: marrillaga@suretyfinancial.com