Faculty Recruitment Allowance (FRA)

At UC Santa Barbara, the Faculty Recruitment Allowance (FRA) is intended to help faculty purchase a home by providing them with funds that can be used for a down payment. The amount is currently set at $78,900. Faculty members preparing to enter into escrow on a home purchase, should inform their departmental manager or Academic Personnel analyst. The department will submit a request to Academic Personnel to have the payment issued through UCPath and payment will be issued on the next available pay day. The FRA is considered to be taxable income. Eligibility to use the FRA does not expire, but the amount available is fixed at the level indicated in the original offer.  

Zero Interest Program Loan

The UC Regents have approved a new loan option to help Academic Senate faculty purchase homes. As an alternative to the Faculty Relocation Allowance (FRA), faculty may choose a new Zero Interest Program Loan (ZIP) loan option to assist with the down payment on a home purchase. This Zero Interest Program Loan provides secondary financing, at the same maximum allocation as the FRA, but with zero percent interest, no monthly payments, and a forgivable feature; provided the loan forgiveness criteria are met. It is expected that ten percent of the original principal of the ZIP loan would be forgiven each year, provided that the faculty member meets the following criteria that includes, but is not limited to: (i) still employed by the University as an eligible participant, as defined in the Program guidelines; (ii) satisfactory performance; and (iii) not in default on any term or condition of a Program loan. Loan forgiveness would be reported as taxable income in the year forgiven on a W-2 form and is subject to standard withholding requirements for that year. The campus and the Office of Loan Programs are currently finalizing implementation guidelines and procedures for the ZIP loan for faculty who meet eligibility and underwriting guidelines, and agree to the loan forgiveness terms. Final details of the program will be announced in Spring 2022.

UC Mortgage and Loan Programs

The Office of Loan Programs designs, delivers and manages housing assistance programs for the recruitment and retention of faculty in support of the education, research and public service missions of the University of California.

Between 7/1/2016 and 6/30/2021, 108 Mortgage Orientation Program (MOP) Loans worth $86,385,000 were granted on campus.

  • MOP loans can provide financing of up to 90% of the lesser of the purchase price or appraised value for loan amounts up to $2,370,000. 
  • For loans greater than $1,990,000, the maximum financing percentage, or Loan-to-Value (LTV) ratio, is 80%. MOP loans in excess of $2,370,000 require additional campus and system-wide approvals

At UC Santa Barbara, MOP loan eligibility is extended for an initial three academic-year period at the time of hire. Eligibility may be renewed thereafter by responding to the Academic Personal email invitation to renew. There is currently no limit to the number of renewals. 

For more information, please visit the UCOP Office of Loan Programs.

Mortgage Origination Program (Standard MOP)

MOP, also known as Standard MOP, is a fully-amortizing first deed of trust loan with a one-year adjustable interest rate based upon an internal University index (MOP Index).

5/1 Mortgage Origination Program (5/1 MOP)

The 5/1 Mortgage Origination Program (5/1 MOP) is an alternative product to the Standard MOP. 5/1 MOP is a fully-amortizing first deed of trust loan that offers an initial fixed interest rate and payment for the first 5 years of the loan, after which the loan converts to a Standard MOP for the remaining loan term. During the initial loan process, you will have the option to select the 5/1 MOP product.

Graduated Payment Mortgage Origination Program (GP-MOP)

Loan featuring an initial interest rate that is a specified percentage lower than the Standard MOP Rate in effect at the time of loan commitment.

Supplemental Home Loan Program (SHLP)

The Office of the President has a centrally-funded Supplemental Home Loan Program Pool (CF-SHLP) that may be available for a limited number of high-priority cases where housing is a key recruitment consideration and the individual is not able to qualify for a home purchase. The program has specific criteria and terms, e.g. it is a second trust deed which may only be used for a primary residence and has a maximum term of 10 years (other limitations and terms may apply). 

For more information, please reach out to the Faculty Housing Contacts.


MOP Loan Brochure
Click on image to access the MOP Brochure 

University & Community Housing Services Rental Listings

The UCSB University & Community Housing Services Rental Listings provides information about rental listings in the community.