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Deferred Interest Program (DIP)

New Program Parameters as of 7/1/2006

DIP is a non-amortizing loan with no current interest but deferred interest due at payoff. This program can be used alone or in combination with other purchase programs. If you are an Eligible Person who is relocating to the local area, you may apply for a DIP loan for the purchase of a home. Certain restrictions apply to those who already own a home in the local area.

DIP-T is a new program for newly tenured faculty.

DIP-R is for those who are retiring and choose to amend their DIP or DIP-T loans to carry them into retirement. A current interest rate will apply.

For more information, download the DIP document.

The Adjustment Improvements document explains how certain home improvements may affect your deferred interest due upon payoff.

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