Dartmouth Credits

Dartmouth Credits are available to employees using the Dartmouth Plus program who are either:

• First-time home buyers in the Hanover area; or
• Existing home-owners who are (i) tenure-track faculty, (ii) tenured faculty who have received tenure at Dartmouth within the last 2 years or (iii) administrators at level PDLA and above who have accepted a position a Dartmouth within the last 2 years (referred to herein as Nationally Recruited Employees).

Dartmouth Credits are in addition to any credits provided by a participating lender.  They may be used with a Dartmouth Plus mortgage, (a) to pay "points" to reduce the interest rate, (b) to directly fund the purchase (down payment), or (c) to offset the employee's closing costs.  Note that at Mascoma Savings Bank, points can only be purchased with credits in 1/2 point increments, although any residual credits can be used to fund a down payment or to offset other closing costs.

Eligible employees wishing to apply for Dartmouth Credits should submit a completed Additional Benefits Application Form (pdf form) to the Dartmouth College Real Estate Office. The Real Estate Office will confirm the award of any Dartmouth Credits by giving written notice to the applicant. The employee will, in turn, need to submit the notice awarding Dartmouth Credits with their mortgage application. Contact one of the listed Bank of America or Mascoma Savings Bank representatives to find out more about how to use Dartmouth Credits.

Dartmouth Credits can only be used at participating Dartmouth Plus mortgage banks.