Funding for employees of Washington University in St. Louis is currently available. The LNYW service area has been expanded for the FY27 funding cycle. Please refer to our updated map on the “Eligibility & How to Apply” page.
Funding for employees of BJC HealthCare is currently 100% reserved and is no longer available at this time. The program is scheduled to reopen in January 2027.
All eligible employees are approved for the same amount of assistance, currently $12,500.
No. The eligible areas located in St. Louis City and St. Louis County were selected by the Washington University Medical Center (WUMC) Executive Committee and cannot be modified except by board decision. All homes purchased through the Live Near Your Work program must fall within the eligible program area for the current fiscal year. For streets that form boundaries, homes on both sides of the street are eligible. Program boundaries are reviewed annually.
No. LNYW will not check your credit.
No. An approval letter indicates that you were deemed eligible for the LNYW program at the time of your application. Changes in your position or standing could affect your approval. Forgivable loans are issued on a first-come, first-served basis and the number of loans to be issued during any fiscal year is limited. Funds are reserved in the order that fully executed contracts are submitted to LiveNearYourWork@wustl.edu. LNYW reserves the right to modify or terminate the program at any time, provided that no such modification or termination shall apply to any loan previously made pursuant to the program. Please contact the program administrator (livenearyourwork@wustl.edu or 314-747-2336) if you have questions about how much funding is still available.
Employees are highly encouraged to work with an approved lender for their primary mortgage loan. Utilizing an unapproved lender may cause hiccups during your underwriting and/or closing that delay or complicate your purchase. Approved lenders are reviewed annually.
Yes. Employees who take advantage of the program are responsible for paying taxes on the loan as it is qualified as taxable income. The rate set by the IRS is .3965. Taxes are withheld from the employee’s paycheck each pay period. Human Resources sets the deduction to be withheld from the employee’s paycheck on a monthly or biweekly basis over a five-year period.
Loan amounts are currently set at $12,500.00. The annual amount forgiven would be $2,500.00 (or 1/5 of the loan amount). This amount will be included on your W-2. Here is how that works out:
Further questions should be directed to Human Resources or Payroll.
Only one forgivable loan is allowed per property. Eligible couples are only eligible for one loan on a property.
Students, fellows, and postdoctoral researchers are not eligible for the program at this time. Medical residents are eligible through BJC.
No. We cannot recommend or approve real estate agents and insurance agents for liability reasons. We also do not advertise properties for sale in our eligible neighborhoods. It is up to the employee to find the best agent and best home to fit their needs.
Yes. For more information, visit ars.wustl.edu/
Buying a new home can be overwhelming. As you begin shopping for properties, here are a few tips to keep in mind. Identify what aspects of your new home are the most important to you, including:
