Mortgage Origination Program (MOP)

The Mortgage Origination Program provides first deed of trust variable rate loans with up to 30-year terms at maximum amounts of 80 percent to 90 percent of value, depending upon loan size. MOP has a 1-year adjustable interest rate (Standard Rate) with a maximum annual adjustment of one percent, up or down. There is an interest rate cap of 10 percent over the starting interest rate (rate cap effective for loans made on or after January 1, 2014). At no time will the Standard Rate be less than 3 percent. Eligibility for MOP participation is generally restricted to qualified applicants who are purchasing a home in the campus area for the first time.

Current MOP rate

Mortgage Origination Program Interest Rate: 3.00 percent
(Effective August 2014 - October 2014)

The MOP provides an initial rate equal to the most recent four quarter average rate of return of the University's Short-Term Investment Pool (STIP) plus an administrative fee of 0.25 percent, which is included in the rate shown below. STIP was established in fiscal 1976 and is an interest-only cash investment pool in which all University fund groups participate, including current funds earmarked to meet payrolls, operating expenses, and construction at all campuses and teaching hospitals of the University.

Listed below are the MOP rates in effect for the most recent four quarters:

  August 2014 – October 2014 ............................................................ 3.00%
  May 2014 – July 2014 ........................................................................ 3.00%
  February 2014 – April 2014 ............................................................... 3.00%
  November 2013 – January 2014 ....................................................... 3.00%