Information for SMP Program Participants

Mortgage Services is your primary point of contact for all questions and concerns related to Princeton University’s Standard Mortgage Program. 

Loan Repayment

  • Payroll Deductions: Loans are repaid through payroll deduction as level monthly payments consistent with the way you are paid

  • Accelerated Repayment: You may accelerate repayment of your loan by authorizing Mortgage Services to increase your payroll deduction, or by submitting additional amounts by check.

Change in Status

Mortgage loans are due and payable when you are no longer employed by the University (except for retirement), or no longer use the property as your primary residence. Normal standards require repayment of the mortgage balance within 90 days of the end of your University employment.

  • When you retire, you may continue to participate in the SMP program as long as the property is your primary residence and you continue to make required monthly mortgage payments. If you retire, you will receive a monthly billing statement; you may pay by check or online through your checking or savings account.

  • If you die while employed or die as a retiree under University guidelines, your surviving spouse or registered domestic partner may continue in the SMP program (with some restrictions).