The Housing Trust Silicon Valley has low-interest, down payment or closing cost loan or grant programs for low to middle–income households. Since 2001, 40% of all loans have been made to low-income families with the remainder going to those with moderate-incomes. Eligibility for the loan programs are determined by the gross annual household income, household size, loan repayment terms and maximum loan amount.
Purchasing a home in Silicon Valley can be a big challenge for middle-income homebuyers – including teachers, healthcare workers and others. To make it easier, Housing Trust Silicon Valley is assisting homebuyers by introducing the Homebuyer Empowerment Loan Program (HELP). This program will help households whose incomes are up to 140% of the Area Median Income (AMI) to purchase a market-rate primary residence.
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. Program description and requirements can be found on the HAF First Time Homebuyer Grant Application and Document Checklist.