Mortgage Plans

Shared Appreciation Mortgage (SAM) Loan

Eligible faculty members who wish to build or purchase a house in South Hadley may request a shared appreciation mortgage (SAM) loan. Each mortgage request is subject to review and approval by the President and the Finance Committee of the Board of Trustees.


The SAM loan is a no-interest loan equal to 25% of the purchase price of a house, with the College retaining a 25% interest in any appreciation. When the property is sold, the College will be entitled to its original principal plus 25% of any capital gain. Full-time members of the faculty who have been granted tenure or who have senior lecturer status or who are on the tenure track are eligible to apply for a SAM loan for their primary personal residence, excluding condominiums, within South Hadley. For property financed by a SAM loan, major capital improvements of a nature which change the market value of the property require the agreement of the College. Any change in the shared appreciation percentage will be based on the difference between the appraised value of the property before and after the improvement. The appraisals will be performed by a qualified appraiser mutually agreeable to the College and the borrower at the borrower’s expense.


These terms are subject to periodic review and alteration by the Trustees. For more details and for information on current policy, individuals should consult the Assistant Treasurer, Room 2, Skinner Hall.



Revised: November 2017