Navigating the journey of homeownership: Fannie Mae’s employee housing benefits
National Homeownership Month is a time to celebrate the benefits of homeownership in America, and what it means to the millions of families and communities across the country. At Fannie Mae, we celebrate and support homeownership, and that’s why we offer tools and resources to our employees on their journey to becoming homeowners.
Eligible employees can take advantage of our Employer Assisted Housing (EAH) program, which provides a one-time grant of up to $10,000 towards the purchase of their home. Melissa, a Product Analysis Associate in our Multifamily business had a personal goal to purchase her first home by 2022. “The EAH benefit went a long way in making me feel ready to enter the homebuying market,” said Melissa. “I feel more confident in myself personally and financially upon completing the homebuying process. It feels good knowing my money is going towards building equity for my future self.”
Navigating the homebuying process for the first time can feel overwhelming, which is why we also offer financial knowledge through Pathway to Homeownership, a library of resources available to employees through Fannie Mae University that equips them with information about the process. “I chose a first-time homebuyer loan and completed the Fannie Mae course as a first-time home buyer. This was unique to see the process from both sides and help me get a holistic understanding of our work in action,” said Melissa.
In addition to the one-time grant and literacy resources, Fannie Mae also offers paid time off to be used towards the time needed to close on a home. Erin, a HR Operations Associate at Fannie Mae, was able to take advantage of the time. “I took full advantage of everything that Fannie Mae had to offer for the homebuying process. My real estate agent was so impressed that we had special leave for the process. I used half of the leave for the home inspection, and the rest towards our closing day.”
Cliff, a Senior Associate in Securities Accounting, who purchased a home during the COVID-19 pandemic, said time off and flexibility also helped in viewing properties that were going under contract within days of listing.
This month, we celebrate the benefits of homeownership and congratulate our colleagues on their new homes. At Fannie Mae, we believe everyone should have access to sustainable housing opportunities. That’s why we’re working to increase access to affordable housing and developing resources to help those interested in starting their journey towards homeownership.