We Want to Help

You Purchase a Home!

Get Pre-Qualified Now!

FREE QUOTE

GREAT RATES

NO HIDDEN FEES

Qualifying employees can receive $12,500 toward a down payment and closing costs.

BJC HealthCare and Washington University’s Live Near Your Work program is expanding to offer all benefits-eligible employees the opportunity to apply for a $12,500 forgivable loan. The loan can be used toward a down payment or closing costs when purchasing a home in designated communities within our region.

How It Works:

Visit lnyw.wustl.edu and complete an eligibility form.
Once verified, a member of the Live Near Your Work team will help you contact a lender approved through the program to obtain mortgage pre-approval.
Find your dream home using the map of approved neighborhoods.
Sign a real estate contract on the home and forward a copy to livenearyourwork@wustl.edu to reserve the funds for your loan.
Complete pre-closing documents and ensure your mortgage lender and title company submit required documents.
BJC and Washington University’s Treasury Services wires funds for your loan to the title company.
Your loan is complete.
Live in your home and continue working at BJC or Washington University for five years, and your loan is forgiven!

Please note:

You are responsible for paying the taxes on your loan. The supplemental tax rate of .3965 is determined by the IRS. Human Resources will automatically adjust your paycheck withholding to account for these additional taxes.

The maximum amount of new forgivable loans to be issued on a first-come, first-served basis during any fiscal year is $300,000 for both BJC and Washington University. Changes to the LNYW program cannot be applied retroactively to previous loan recipients. Employees are eligible for only one loan during the life of the program.