Tenancy-in-Common Program

If you are tenured faculty or a member of senior staff, the Tenancy-In-Common (TIC) Program may assist you with a home purchase in the Princeton area. Under the terms of the TIC program, the University funds up to 33.33% of the purchase price or appraised value, whichever is less. In turn, the University receives an undivided interest in your property. The University is entitled to that same percentage of the net sales proceeds or fair market value when the house is sold or when the TIC Agreement is terminated for any reason.

TIC Eligibility

In addition to you being eligible for the program, the property itself must be eligible and TIC participation requirements must be met. TIC eligibility is determined by your position or rank. Please note that Princeton University retirees and employees in term positions are not eligible to enter into a TIC arrangement. For further clarification, contact Mortgage Services at (609) 258-3123.

Position or Rank

Office of the Dean of the Faculty

Full professor
Associate professor

On-Campus Research and Specialist Staff

Senior research scholar
Senior professional specialist

On-Campus Administrative and Professional Staff

Administrative staff (ranks 10 and above)
IT professional staff (rank 050 and above)

Library Senior librarian
Princeton Plasma Physics Lab (PPPL)

ADX
Administrative staff (ranks 11 and 12)

Engineering staff (rank 10)
Research physicist (rank RES 06)

Property Location and Significant TIC Terms and Conditions 

  • The property must be a single-family home and your primary residence. Residential Purchase Plan properties may be purchased using TIC. 

  • TIC participation is limited to properties that are being newly acquired. The program does not provide for TIC participation in properties owned prior to employment by Princeton University or for a property owned before you became eligible to participate in the program.

  • With the exception of the city of Trenton, the purchased property must be located within a nine-mile radius of the central campus, as outlined on our Eligibility Map. Contact Mortgage Services to confirm that the property is in an eligible location. The percentage of funds the University contributes cannot exceed 33.33% of the appraised value of the property or the purchase price, whichever is lower. The current maximum limit for any combination of University programs related to a home purchase is $1,600,000 and cannot exceed 90% of the appraised value of the property or the purchase price, whichever is lower.

  • You may apply for the TIC program in conjunction with the Standard Mortgage Program or you may apply solely for TIC. Eligibility for TIC also constitutes eligibility for an “Additional Principal Mortgage”. Should your income qualify for a mortgage in excess of the Standard Mortgage Program (SMP) limit, you may borrow that additional principal at the market interest rate through the University. 

  • Participation in the TIC program may limit your options for obtaining non-University mortgage loans on the property. Visit our External Lending Options page for information regarding lenders that have products and services in place which may be available to be used in conjunction with a Tenancy-In-Common arrangement.

  • Buyers pay normal closing costs including, but not limited to, attorneys' fees, title insurance costs, survey fees, and recording fees related to the transaction.