Ahead of the marcus evans National Healthcare CXO Summit 2022 and the National Healthcare CXO Summit 2023, Jonathan Asmis discusses the benefits of healthcare organizations playing a role in the home ownership journey of their staff.

1. Interview with: Jonathan Asmis,
CEO & Co-Founder, Landed, Inc.
“Staff retention and recruitment are top
concerns for healthcare leaders today.
What would really move the needle and
keep healthcare professionals on the
front line is access to financial programs
that open the door to homeownership in
the communities they serve,” said
Jonathan Asmis, CEO & Co-Founder,
Landed, Inc.
Landed, Inc. is a service provider
attending the marcus evans National
Healthcare CXO Summit 2022, and
the National Healthcare CXO Summit
2023.
Why do healthcare workers need
help to become homeowners? Why
should healthcare leaders consider
providing this assistance to them?
When we speak to healthcare leaders,
we know that staff retention and
recruitment are top-of-mind. What we
found in the education world – where
Landed first started - and now in the
healthcare world, is that if you look at
differences in retention amongst staff
who are homeowners vs. those who are
not, there is a wide gap. For many
people, the primary barrier to starting
on the journey to home ownership is
amassing the necessary collateral for a
down payment– saving enough money
to transition from renter to owner.
Without the “bank of mom and dad”,
our essential professionals struggle.
Meanwhile, rents continue to rise
quickly as incomes increase slowly. It is
very difficult to emerge from that
situation with enough money to put
down on a house – it can take many
years to save 20 percent. Helping them
with that down payment will allow them
to make the transition sooner and stay
rooted in their community.
Managing the cost of living for
employees has always been something
healthcare leaders have had to reckon
with, whether they wanted to or not,
but primarily in very high-cost cities like
New York or San Francisco. Other
regions didn’t think about it, but now
that problem has extended out. We can
take best practices from leaders who
have been dealing with this challenge at
length. We started Landed by taking the
best practices from institutions who
have been managing their own home
ownership support programs for years.
For example, Stanford University
recognized this was going to be a
problem in 2000, and could affect staff
recruitment, retention, and ultimately,
the quality of their academic programs.
They now realize that they would have
never been able to retain the people
they wanted, had they not provided
housing support to faculty and staff.
Providing financial empowerment tools
would also align with a healthcare
organization’s diversity, equity and
inclusion (DEI) efforts. There are groups
of Americans who have traditionally
been locked out of wealth building
assets, sometimes intentionally. If
healthcare leaders want to build a more
diverse and inclusive workforce,
providing different financial tools should
be an important part of their strategy.
What is unique about your down
payment program?
Our goal is to give people very flexible
money, without impacting the mortgage
lender’s primary underwriting. That is
the trick in designing an effective down
payment support program. So, we
provide USD 120,000 - 150,000 down
payment support per person, depending
on the market. There are no income
caps or wealth caps. It is an apprecia-
tion-sharing product, so when they go
to sell their home, we share some of the
appreciation that the home experienced.
If there is no appreciation, we only get
back the original amount. If the value
depreciates, we lose money. It is
designed to be a win-win, lose-lose type
of partnership capital. Customers can
use primary lenders to get the lowest
possible mortgage rates available to
them.
The model does not depend on fees
from partner institutions. We do not
charge the employer. There is no
procurement system or budget
allocation required. It’s essentially low-
hanging fruit that employers can check
off their list, giving their employees an
effective tool to become a homeowner.
We do not have any real incentive to
push this down payment program ahead
of others that may already be available.
That allows us to be a true partner and
to help people understand the full range
of options they have, who might be
struggling with other barriers, such as
student loans.
What impact could this have on the
local community?
We all want to see our essential
professionals living near the communi-
ties they serve and not commuting for
hours every day. Having more essential
professionals as homeowners leads to a
more resilient and vibrant community.
What can healthcare leaders learn
from education leaders who have
already done this?
It is very difficult to do anything around
housing on your own. Many institutions
have tried to run their own down
payment support programs, only to
abandon them. They may have tried co-
investing with employees or providing
cheap rental housing. But, as they went
down that route, they realized there are
many nuances and complexities. They
need to negotiate with all individual
bank partners, stay on top of all local
and federal laws, figure out how to
negotiate appreciation sharing when a
customer makes improvements or
renovations, so on and so forth. You
have to do thousands of these
transactions to know how to solve the
issues that arise.
Why Healthcare Organizations Should Assist
Employees on their Home Ownership Journey
Having more
essential
professionals
as homeowners
leads to a more
resilient and vibrant
community

2. About Landed, Inc.
We founded Landed in 2015 to uphold those who uphold us: our educators, healthcare workers, and first responders. In expensive
cities, high land prices make it difficult for many individuals to become the long-term residents our communities depend on. If we
want stronger schools and safer communities, we need to support those who make it possible.
The first place we tackled was our own backyard, the San Francisco Bay Area, where we created our shared appreciation down
payment program. Since then, we’ve expanded to help school, healthcare and government employees navigate all of their different
options for buying a home. Helping these critical community members become homeowners keeps them on the front lines and
improves outcomes for those who they serve; that's why our down payment program is financially supported by organizations like
the DRK Foundation and the Chan Zuckerberg Initiative, who share our commitment to helping educators and others live near the
communities they serve. Since our founding, we’ve been able to expand our reach to Seattle, Portland OR, Denver, Los Angeles,
San Diego, New York, Hawai’i, Washington DC, Sacramento, Salt Lake City, Charlotte, Atlanta, and beyond.
www.landed.com
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