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Deferred Interest Program (DIP)

DIP is a non-amortizing loan with no current interest but deferred interest due at payoff. This program can only be used in combination with the maximum amount of a Mortgage Assistance Program (MAP) loan to purchase a qualifying residence. 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 have owned a home in the local area.

DIP-T is a program for eligible borrowers promoted to tenure or to Continuing Term who meet certain program requirements.

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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