Employer Assisted Housing (EAH) Incentive
The Employer-Assisted Housing (EAH) Incentive is doing exactly what it was designed to do – help businesses retain and attract loyal workers by providing them with the opportunity to become proud homeowners.
The EAH Incentive continues to gain momentum as an effective strategy for employers to address housing needs and workforce challenges by helping employees save money for down payment and closing cost assistance toward the purchase of a home.
Why Should Your Company Develop an EAH Benefit?
- Reduces recruitment, turnover & training costs
- Improves employee loyalty and morale
- Can reduce commute time when employees live closer to work
- Improves bottom line because satisfied workers are more productive
- Sets your business apart as an innovative and progressive leader
Example:
Company A offers its eligible employees an EAH benefit plan structured as a matched savings plan. Employees set up a savings account for the purpose of purchasing a home. Employees who meet their savings goal can receive up to $2,000 in matching funds from Company A, and up to $2,000 in matching funds from REI. This gives the employee up to $6,000 to assist with down payment and closing costs.
How Do I Get Started?
Call 1-800-658-2823 and request technical assistance to help you start developing your company’s EAH benefit package.
Services of EAH partnering agencies include:
- USDA Rural Development offers opportunities for home-ownership through direct and guaranteed loans and provides one-on-one counseling to eligible employees.
- REI provides matching funds equal to your incentive up to $2,000 per family. Matching funds available on first-come, first-serve basis.
The EAH Incentive is a collaborative effort of REI and USDA Rural Development to provide affordable housing for Oklahoma’s workforce.