Need a Down Payment? Your Employer Might Pitch In

Buying a first home is getting harder, and some companies are stepping in.

As homeownership gets more expensive, more employers are offering financial help to workers buying their first home.

Meet one example: Phil Bohn qualified for $6,500 in down-payment assistance from his employer, BNY.

Why are employers doing this?

Employers see housing help as another perk to attract workers, like fertility or fitness benefits.

There may be a retention angle too.

Landy Liu, CEO of Foyer, says employees who buy a home tend to stay put, which benefits the company.

Location can matter as well.

Some companies pushing return-to-office strategies have a stake in helping workers settle near their offices.

What does the help look like?

These programs are known as employer-assisted housing (EAH).

They can cover down payments, closing costs, or both.

Here are the common formats:

• Grants, loans, secondary financing, or Individual Development Accounts.
• Grants don't have to be paid back.
• Some loans are forgiven after you work at the company for a set number of years.

The BNY example

BNY pledged $6,500 in down payment assistance to eligible US employees earning $100,000 or less a year.

What the numbers say

A 2024 survey shows the appetite for these perks.

The JW Surety Bonds survey polled 310 employers and 710 employees in January 2024.

• 25% of employers were considering housing benefits for 2024.
• More than 25% of employees said they'd switch jobs for employer-sponsored housing benefits.

Still not widespread

Despite the buzz, these benefits are far from standard.

Few employers offer tools to help workers save for a down payment or navigate the homebuying process.

One possible reason is complexity.

Some experts suggest employers lack the expertise to run such a program, which can involve tax and payroll issues.

A word of caution

Free money isn't a substitute for financial know-how.

Deloitte's Melanie Langsett warned in 2022 that employees need a basic grasp of home-buying finances before accepting a lump sum.

What to do next

• Ask HR whether your company offers housing or down payment help.
• Check the terms, including whether it's a grant or a loan.
• Work with a mortgage professional who knows the program before you apply.

References

1. MarketWatch via Morningstar. "Need money for a down payment? More employers are offering to help." Nov. 11, 2026. https://www.morningstar.com/news/marketwatch/20261111141/need-money-for-a-down-payment-more-employers-are-offering-to-help
2. MSN (original link provided; could not be accessed). https://www.msn.com/en-us/news/other/need-money-for-a-down-payment-more-employers-are-offering-to-help/ar-AA2heY1S
3. Fortune. "Housing crisis: employer down payment assistance." April 16, 2026 (date from URL). https://fortune.com/2026/04/16/housing-crisis-employer-down-payment-assistance/
4. HR Brew. "Housing Benefits Gain Ground as Employers Like BNY Pledge Down Payment Assistance." April 15, 2026. https://www.hr-brew.com/stories/2026/04/15/employer-sponsored-housing-benefits
5. WorldatWork (Workspan Daily). "Employers Explore Offering Housing Benefits to Workers." March 15, 2024. https://worldatwork.org/publications/workspan-daily/employers-explore-offering-housing-benefits-to-workers
6. Kiplinger. "Your Employer Could Help You Achieve Your Dream of Homeownership." Date not shown. https://www.kiplinger.com/real-estate/buying-a-home/your-employer-could-help-you-achieve-homeownership
7. WorkLife. Deloitte commentary on employer homebuying help. Sept. 19, 2022. https://www.worklife.news/?p=33593
8. Homebuyer.com. "Employer Assisted Homeownership (EAH) Benefit" (Freddie Mac guidelines). Date not shown. https://homebuyer.com/guidelines/freddie-mac/employer-assisted-homeownership-eah-benefit-5501-5
9. Experian. "11 Financial Wellness Benefits Your Employer Might Offer." Date not shown. https://integration.experian.com/blogs/ask-experian/financial-wellness-benefits-your-employer-might-offer/
10. U.S. News via WTOP. "EAH Programs: How an Employer Can Help You Buy a Home." May 2024. https://wtop.com/news/2024/05/eah-programs-how-an-employer-can-help-you-buy-a-home

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