Benefit payments and taxes withheld will be included the participant's annual Form W-2. Federal income tax withheld by Yale is normally off set when the participant takes a tax deduction for the mortgage interest on his or her annual federal income tax return. The remainder of the first payment will be made upon verification that the participant has acquired and moved into the home. If program funds are not needed for the closing, the entire first payment will be made when the participant has moved into the house. Participants must commit to own and reside within the home for at least two years from the date of closing to qualify for the benefit.
Benefit ceases if the participant ends occupancy.
The program is administered by the Employee Records Office of the Department of Human Resources. Application forms may be picked up in the Benefits Office at 155 Whitney Ave., or on line here . Program Background Alphabetical listing of eligible home locations and Map .