EMPLOYER SOLUTIONS
Helping Your Most Important Assets Invest In Theirs
EMPLOYER SPONSORED DOWN PAYMENT ASSISTANCE
ORO Impact (ORO) develops and administers customized and cost-effective down payment assistance programs to enable employers to help their employees buy homes (and build wealth), while offering a powerful tool to improve recruitment and retention.
The down payment assistance programs can be completely customized to meet an employer’s specific needs – and employers can develop multiple programs to serve employees in different positions or geographies.
STRUCTURING THE PROGRAMS
Down payment assistance programs typically pay for themselves through reduced attrition costs, but many employers are not in a position to fund down payment assistance programs as a broad employee benefit.
That’s ok.
Employers can establish an annual budget, designate eligibility criteria (e.g., number of years of service, job type, first time homeowner status, etc.) and award support through a randomized lottery. This ensures that all eligible employees have an equal opportunity to participate, and over time, all or a meaningful portion of eligible employees can benefit. Alternatively, employers can use down payment assistance as a targeted retention incentive for specific employees.
Down payment assistance loans can be structured as forgivable so long as an employee remains employed, repayable or repayable with shared appreciation (i.e., upon sale, the employer receives a portion of the home’s appreciation).
WE MAKE IT AFFORDABLE, HIGH QUALITY AND EASY
We know down payment assistance programs are high impact tools for employers, but we also know that developing and implementing these programs can be a costly drain on internal resources and often requires competencies outside of what many employers have on their existing teams.
ORO’s platform allows employers to efficiently design and administer down payment assistance programs to alleviate internal staffing burdens and improve the overall employee experience.
Employers provide the down payment funding, ORO handles the rest.
