When Therese began her home-buying journey in 2019, owning a home felt far out of reach. Rising rents, housing instability, and the responsibilities of raising four children as a single mother made the dream seem distant. Today, standing inside her own home in Antioch, she says simply,
“I worked hard for this. And I did it.”
Her path to homeownership would ultimately depend on pairing years of preparation with down payment assistance.
Like many renters raising a growing family, Therese moved between homes as her children grew older. but rent increases and challenging landlord situations made long-term stability elusive. What she wanted more than anything was a permanent home where her family could feel safe, grounded, and secure.
Therese’s journey reflects a broader challenge facing single-parent families seeking stability in the communities where they live and work. Single mothers face some of the steepest barriers to homeownership, largely due to limited savings and the challenge of covering the down payment and upfront costs while supporting a family. Research consistently shows that the lack of upfront capital is the primary barrier to homeownership for single mothers, making down payment assistance a critical gateway rather than a supplemental resource.
In 2019, Therese took a critical first step toward her dream by enrolling in the Family Self-Sufficiency program through the Contra Costa Housing Authority, committing to a five-year plan to build savings and financial independence. Despite a pandemic-related job loss and a major health challenge, she persisted, returning to full-time work in nonprofit accounting administration and continuing to save.
By 2024, Therese completed the program and had approximately $48,000 in savings. But even with years of discipline and preparation, the gap between what she had saved and what the market required remained.
That gap is where Housing Trust Silicon Valley plays a defining role.
Founded 26 years ago, Housing Trust uses catalytic housing finance and cross sector partnerships to create more equitable, affordable communities in the greater Bay Area region. One of Housing Trust’s goals is to expand access to homeownership in one of the most expensive housing markets in the country.
The Home Access Program is a key part of that work. The program, Housing Trust’s first homebuyer loan program in Alameda and Contra Costa counties, is made possible through funding from the California Department of Housing and Community Development under its CalHome Program. This helps buyers bridge the gap between what they have saved and what the market requires for a down payment.
Designed for lower-income, first-time buyers who are financially prepared for homeownership but lack sufficient upfront capital, the Home Access Program can be combined with other buyer resources, strengthening a borrower’s ability to meet lender requirements. For Therese, this meant pairing her hard-earned savings with a manageable loan, allowing her to compete in a high-cost market and ultimately secure a home for her family. For families like Therese’s, access to down payment assistance can determine whether years of preparation ever translate into homeownership.
Therese is one of thousands of households who have benefited from Housing Trust’s commitment to expanding access to homeownership, strengthening workforce stability and helping families remain rooted in the communities they serve.
For Therese, pairing her escrow savings with Housing Trust’s Home Access Loan made the difference. The program allowed her to compete in the market, close on a home, and secure lasting stability for her family.
Her journey shows what’s possible when individual determination is supported by trusted partners and sustained public investment working together to expand access to homeownership.
Thinking back to the moment she first walked into the house she would purchase, the decision felt immediate, grounded in years of preparation and persistence. “I just knew,” she says. “This is where we’ll build memories.”
Learn more about Housing Trust’s homeownership assistance programs and connect with our team to explore how we’re expanding access to homeownership across the Bay Area, visit https://housingtrustsv.org/programs/homebuyer-assistance/.
Sources
- Gender Equity Policy Institute (2024), Women and Housing in California, https://thegepi.org/data-brief-women-and-housing-in-california-2024/
- Urban Institute (2018–2023), Wealth Gaps and Barriers to Homeownership, https://www.urban.org/urban-wire/wealth-gap-between-homeowners-and-renters-has-reached-historic-high/