Faculty Housing
There are two components to the faculty housing program, one for rental assistance and one for the purchase of a home.
Rental Assistance is offered to tenure track faculty before the award of tenure. This involves an LMU master lease directly with a landlord and a sub-lease between the University and the faculty member occupant. Rent may be partially subsidized, with the faculty member contributing 25% of the gross household income per month. Allowable rent rates for various size units are adjusted annually. The amount of assistance is determined by the household size.
Home Purchase Assistance is geared toward first-time buyers and those relocating from a distance of more than 50 miles. Faculty may apply after completion of one year tenure-track service and when contracted for the second year. The program is also available to tenured faculty with fewer than 20 years of service. The loan is in the form of a Second Deed of Trust for $100,000 with a 15-year term. LMU also contributes $3,000 toward non-recurring closing costs. The loan is payment free with incremental forgiveness of $10,000 annually in years six to 15 and requires continuous employment.
Other services provided include listings of local properties available for rent or sale, assistance with Security Deposits, information on schools, and general orientation to the area. For information on the two programs, contact Kirsten Andresen, Director of Real Estate and Faculty Housing, at (310)338-1998. Her office is located in University Hall, Suite 4900.