Make a Mortgage Donation

Do you know how much the new house cost?
Do you know how much we raised towards the new house?
What’s the current mortgage balance?
When will the mortgage be paid off?
What is your share of the mortgage as an alumnus?

Do you know how much it costs a year for utilities?
Did you know the House Corp now includes cleaning service during all major breaks?
Do you know what new projects the House Corp is working on?
Did you know the House Corp pays for all furniture, beds, mattresses, dressers and desks?

This page will hopefully touch on these questions for you.

Think about a general donation of any amount to help with mortgage or new projects!

IUP Sigma Chi Mortgage Factoids:

  • Current mortgage balance as of July 2014:  $296,000
  • Current monthly mortgage payment:  $1,960
  • Current approximation of how much the monthly mortgage payment goes to principal:  Approx. $840
  • Current interest rate:  4.09% (commercial mortgage rate)
  • Remaining term of payments if only minimum payment is made every month:  220 months, or 18 years or sometime around June 2031.
  • Utilities cost at least $75,000 per year and rising
  • All fixes and cleaning are done professionally in the new house.
  • The House Corp is constantly revising new projects list to make the house better…

But we can do better! If each alumni brother would open their wallets and give $530, we could pay off that mortgage. Any amount will help with mortgage or new projects.

Don’t let George do it, make a difference. Click below and make a general donation today for any amount! Specify your donation to go specifically towards the mortgage principal or where the need is most.