The Santa Clara County Association of REALTORS® (SCCAOR) and the Silicon Valley Association of REALTORS® (SILVAR) saw an unmet need in assisting first-time homebuyers and applied for a $100,000 grant from the California Association of REALTORS® Housing Affordability Fund. The Santa Clara County REALTOR® Foundation and the Silicon Valley REALTORS® Charitable Foundation are contributing the necessary operational funds to implement the grant. Housing Trust Silicon Valley is the administrator for this program. If you are a REALTOR® and would like a physical copy of the flyer pertaining to this program, please click here.
Who it Helps
Buyers looking to qualify will need to meet three key standards before applying. They must use a REALTOR® in the transaction; be considered a “first-time homebuyer” under federal tax rules; and meet the income requirement of earning up to 120% of the area median income of the county the property is located.
How it Helps
First-time homebuyers will be eligible for awards of up to $5,000 per grantee for customary non-recurring closing costs paid by the buyer.
Non-recurring closing costs (excluding any upfront fees paid outside of closing by the buyer) are defined as:
- Title & Escrow
- Recording fees
- HOA transfer fees
- Document transfer fees
- Loan fees (including origination, loan processing, tax service and flood cert.)
- City transfer tax
No repayment of the grant is required and the grant is forgiven at the close of escrow. Funds awarded will be sent directly to the Title Company handling the transaction, prior to close of escrow.
How to Apply
Program description and requirements can be found on the HAF First Time Homebuyer Grant Application and Document Checklist. Download and review the document and submit a complete application by email to firstname.lastname@example.org.
When purchasing a home, timing is of the essence. For quick processing of your application, it is imperative that you submit only a complete application with all requested documents as outlined.
Funds are Limited
Funds are limited and available on a first come first served basis. Program will end when funds are depleted. Funds are reserved upon receipt of a complete application and all requested documentation. Incomplete applications will not be accepted.
For more information, contact email@example.com or (408) 436-3450 ext. 221.