Life in Lancaster City offers close-knit neighborhoods, beautiful architecture, and an easy commute to work. Stroll down a cobblestone street to market. Attend a world premiere of a new play. Bring your children to an ice cream festival. Art galleries, sporting events, fine dining and family entertainment are all a part of Lancaster City's landscape. The City offers a variety of housing types, which can accommodate a range of lifestyles and interests. A number of College employees already live in our neighborhood. The College believes that encouraging a greater number of our employees to live in the neighborhood will have a positive impact on the number of owner-occupied homes, the quality of property appearances and maintenance, and an improved sense of campus/community relations. In addition, the College believes there are positive outcomes when faculty and staff live closer to campus, such as increased involvement with College events and greater interactions with peers and students.
The College is pleased to offer City Life, our neighborhood housing program. (City Life replaces the Home Buyer Incentive Program established in 1998.) City Life consists of two programs: Settlement Assistance and Curb Appeal. The programs apply to residential properties in the established area bordered by College Avenue, Orange Street, Arch Street and Harrisburg Pike as indicated on the attached map.
Through the City Life program, you have access to loan products designed especially for employees of Franklin & Marshall College. The City Life loan, offered exclusively through Fulton Bank, provides many options for structuring a loan that's right for you. The Keystone Home Loan, a product offered by the Pennsylvania Housing Finance Agency through Fulton Bank, provides lower interest rates and additional cash to help with closing costs. Click on Loans at a Glance to see the highlights of these special loans.
Are you a full-time employee of Franklin & Marshall College?
Are you buying a home for your primary residence within the established area?
Do you currently own and reside in a home in the established area?
Then you may be eligible to participate in all or some of the City Life programs. For more specific information, click on the program name.
Settlement Assistance: the College offers a deferred payment loan of up to $10,000 for the down payment, closing costs, and interior & exterior home improvements. Also, the College offers a deferred payment loan of up to $5,000 to convert a subdivided home back to a single family home. For a College loan, no interest payments are due, and the loan will be forgiven at 20% per annum over five years.
Curb Appeal: the College offers a deferred payment loan, matching homeowner money on a 1:1 basis up to $5,000. Homeowner money can be spent on interior or exterior home improvements. College's matching funds must be spent on exterior home improvements, which improve the curb appeal of the home. No interest payments are due on the loan, and the loan will be forgiven at 20% per annum over five years.
This information is intended as a general overview only. The terms, conditions and procedures of the City Life programs are subject to change at the College's discretion. We strongly urge you to seek the advice of knowledgeable legal counsel when contemplating a real estate purchase.