It’s Moving Season!
Are you renting or buying a new home this fall? HUCTW and Harvard University Employee Credit Union (HUECU) offer members three types of 0% interest loans to help members with costs of (1) first and last month’s rent or moving into a new rental home, (2) moving into a new purchased home, or (3) home owner emergencies. Check out the HUCTW Home Loan Program application page to download the loan affidavits and guidelines for all three loan programs: https://huctw.org/funds-and-loans/housing-loan-programs
Rental Housing Transition Loan
Created in the 2004 contract negotiations with the University, this loan provides help in transitioning from one rental housing situation to another. HUECU will provide a zero-interest loan up to $2,500 to any HUCTW bargaining unit member who needs to cover up-front costs, such as realtor’s fees, security deposits, first and/or last month’s rent deposit if required before occupancy, and moving expenses.
Homeowner Moving Expenses Loan
In the 2007 contract negotiations, the Rental Loan program was expanded to cover moving expenses for homeowners. HUECU will provide a zero-interest loan up to $1,000 to any HUCTW bargaining unit member to assist in the payment of moving expenses incurred while transitioning into ownership of a house or condominium.
Home Emergency Hardship Loan
In the 2007 contract negotiations, a new program was created to help with certain types of housing-related emergencies. Home emergencies will be defined as catastrophic rental and homeowner emergencies such as damage caused by a natural disaster, unexpected and extraordinarily high costs of heating a household, or repair or replacement of damaged heating units or other vital appliances. HUECU will provide a zero-interest loan up to $2,500 to any HUCTW bargaining unit member who needs to cover costs related to the above mentioned circumstances.
Visit the HUCTW Home Loan Program application page to download the loan affidavits and guidelines for all three loan programs: https://huctw.org/funds-and-loans/housing-loan-programs
