We are excited to bring you the Home Access Program, designed to assist low-income households in achieving the dream of homeownership. In the greater Bay Area, housing affordability presents a significant challenge for first-time homebuyers. Many households in the region struggle to secure a substantial down payment, making homeownership with affordable mortgage payments an unattainable goal. This financial barrier not only impacts individuals and families but also affects the diversity and skill of our local workforce, as well as the well-being of our community.
To address this issue and support the most vulnerable households, Housing Trust Silicon Valley is proud to introduce the Home Access Program. This program aims to assist lower-income households with purchasing their first home by providing down payment assistance and creating affordable mortgage payments. The Home Access Program is made possible through funding from the California Department of Housing and Community Development under its CalHome Program. Housing Trust was granted funds and now administers the Reuse Funds for down payment assistance to help first-time homebuyers purchase a home.
Program Details
The Home Access Program offers down payment assistance to lower-income households seeking to purchase a single-family home, townhome, or condominium. Here are the key program details:
- Loan Amount: You can borrow up to 40% of the purchase price, with a maximum loan amount of up to $200,000. This enables you to bridge the gap between your down payment and the total purchase price.
- Loan Structure: It is a 30-year deferred loan. It carries a simple interest rate, which accrues annually. Interest accumulates on the principal loan amount until the entire principal is repaid.
- Borrower Contribution: You are required to contribute a minimum of 3% of the home’s purchase price plus 2% for closing costs.
- Loan Repayment: The repayment of the loan (including principal and accrued interest) is due at the end of the 30-year term. No monthly principal or Interest payments are required during the loan term. This allows you the flexibility to manage your finances and consider future options. *If you sell, transfer, or refinance your home before the end of the 30-year term, repayment of the loan (including the principal and accrued interest) becomes due.
- Eligible Property Types: Single-family homes, townhomes, or condominiums located in Alameda or Contra Costa County.
Preliminary Requirements
- You are a Bay Area resident and a first-time homebuyer purchasing a home in Alameda or Contra Costa County.
- The home you purchase must be within a reasonable commute distance of your place of employment.
- You have at least 5% of the purchase price available to meet the required borrower contribution toward the down payment and closing costs.
- You have a minimum of 1 month reserve after purchase. This reserve should include 1 month of mortgage payment, property tax, hazard insurance, and homeowners’ association dues (if applicable).
- A Homebuyer who intends to be a borrower and their spouse (if applicable) must complete a HUD-certified 8-hour Homebuyer Education class through a designated agency and submit a separate certificate issued in their own name.
- Your combined gross household income, including all adult household members, does not exceed 80% of the Area Median Income (AMI) for the county where the property is located.
| Maximum Household Income Table for 80% Area Median Income by Household Size | ||||||
|---|---|---|---|---|---|---|
| County | 1-Person | 2-Persons | 3-Persons | 4-Persons | 5-Persons | 6-Persons |
| Alameda | $95,050 | $108,600 | $122,200 | $135,750 | $146,650 | $157,500 |
| Contra Costa | $95,050 | $108,600 | $122,200 | $135,750 | $146,650 | $157,500 |
Getting Started
Ready to explore homeownership? Follow the steps below to learn about the Home Access Program, assess your homebuying readiness, compete required education, and understand what to do next.
Learn About the Program
Start by reviewing the Home Access Program Policies & Procedures and Homebuyer Readiness Guide. These resources explain the Home Access Program process, requirements, eligibility criteria, and what to expect as you move through the homebuyer journey.
READ HOME ACCESS PROGRAM POLICIES AND PROCEDURES→
READ HOMEBUYER READINESS GUIDE→
Check Your Homebuying Readiness
Complete the online Homebuyer Readiness Self-Assessment to help you understand where you are in your homebuying journey and whether you may be ready to move forward with the Home Access Program.
The Self-Assessment is a readiness tool—not a program application. Completing it does not place you on a waitlist or reserve program funds.
Complete Homebuyer Education Class
Before moving forward in the Home Access Program process, each homebuyer who will be borrower and their spouse if applicable must complete a HUD-certified 8-hour Homebuyer Education Course through a Housing Trust-approved counseling agency.
The individual must complete the course and obtain their own certificate of completion. A single certificate listing multiple individuals is not accepted.
CHECK OUT THE LIST OF APPROVED HOMEBUYER EDUCATION PROVIDERS →
Review Your Next Steps
Once you have completed the Homebuyer Readiness Self-Assessment and Homebuyer Education Course, review the next steps and program requirements to understand what is needed to move forward.
You will receive instructions from Housing Trust on the next steps in the Home Access Program process, including when and how to submit a Home Access Program eligibility application. Do not submit an application until you have been instructed to do so.
Important to Know
The Homebuyer Readiness Self-Assessment is not an application for the Home Access Program. Completing the Self-Assessment or Homebuyer Education Course does not guarantee program eligibility, funding availability, or loan approval.
Do not make an offer on a home or enter into a purchase contract based solely on completing the Self-Assessment or Homebuyer Education Course. You should not move forward with a home purchase until you have received a Program Eligibility Determination Letter confirming that you are eligible for the Home Access Program.