There are several programs available to individuals seeking to purchase a principle residence. If you have not had a mortgage on a home during the past 3 years you are very likely classified as a "First Time Home Buyer," but some programs are also available for individuals seeking to purchase their next home. This is just a small sample of links to available home buyer programs and down payment assistance programs (there are over 200 in CA!) available to individuals who wish to purchase homes in Alameda County or Santa Clara County. There are programs based on income, profession, residency, location of employment, veteran status, and first time home buyer programs. I would love to help you discover all of the options available to you, then help you find your next home! Sellers, some programs can also give you an edge in assisting buyers in purchasing your homes! Contact me if you would like to know which programs may work for you, how to use them, or if you would like to be referred to a loan officer familiar in "layering" these loan programs so that you can become pre-approved for your financing (important to do prior to looking at homes).
The programs are often based on fund availability and do change often.
(2/1/2012 UPDATE - As a result of Gov. Brown's efforts to close down the city Redevelopment Departments, many City programs are not currently available.
Contact me for more information about available programs.)
California Home Buyer Programs & Useful Links: |
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General Loan Application Form This is the form used by most lenders when applying for a loan Download 1003 Fannie Mae form https://www.fanniemae.com/content/guide_form/1003rev.pdf |
8 Hour Homebuyer Education Certification: Most home buyer programs require that an 8 hour home buyer class be completed prior to funding. Please note that some programs do NOT accept online training certificates. Here is a local HUD certified training source, accepted my many of the homebuyer programs (check with lender to verify lender requirements): Project Sentinel |
!!!CalHFA Moderate Income Limits!!! These limits vary by county and are used as the maximum allowed income limits by the majority of the home buyer programs in California http://www.calhfa.ca.gov/homeownership/limits/income/income-moderate.pdf |
CalHFA First Time Home Buyer Programs Special Loans for First Time Home Buyers and/or Veterans purchasing homes in California (includes CHDAP Down Payment Assistance Program and Closing Cost assistance). Additional special programs for Teachers purchasing newly constructed homes. http://www.calhfa.ca.gov |
CalPERS Home Loan Programs - not currently available Loan programs for individuals who have a CalPERS retirement account http://www.calpers.ca.gov/index.jsp?bc=/member/homeloan/home.xml |
CalSTRS Home Loan Programs- not currently available Loans for home buyers who have a CalSTRS retirement account http://www.calstrs.com/Members/Home%20Loan%20Program/index.aspx |
CalVET Home Loan Programs Home loans and Home Buyer Programs especially for veterans purchasing homes in California http://www.calvet.ca.gov/HomeLoans |
NHF CHF Platinum Program Grant 3% Grant that can be used for closing costs or to assist with down payment when using an FHA, VA, or USDA first loan to purchase a primary residence in CA. http://www.nhfloan.org/programs/NHF_Platinum/Guide_NHF_Platinum.html |
Fannie Mae www.efanniemae.com loan products Homepath & Homepath Renovation Loan Programs (for Fannie Mae REO's), and My Community Home Mortgage |
FHA 203K Renovation Purchase Loan - a loan that allows the borrower to finance purchase and renovation costs into one loan. 3.5% min borrower fund requirement. http://www.hud.gov/offices/hsg/sfh/203k/203kabou.cfm |
HUD Good Neighbor Next Door Program Provides law enforcement officers, firefighters, emergency medical technicians and teachers an opportunity to purchase homes in revitalization areas with a substantial incentive in the form of a fifty percent discount off the list price of eligible properties (note that is forgiven after a few years of owner occupancy). Real Estate Agent must work for a HUD registered brokerage in order to submit offers (My office is HUD registered!). http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/reo /goodn/gnndabot |
PenFed $5K Military Grant Provides 3 to 1funds matched to borrower's own contribution, at least 3% of purchase price, maximum of $5k. Criteria for loan qualification include U.S. Military (active duty, Reserve, National Guard, or Veteran) or Department of Defense or Department of Homeland Security employee, first time home buyer (not owned in last 3 years or home lost in Divorce or disaster), and income criteria. http://www.pentagonfoundation.org/site/PageServer?pagename=dream_index |
USDA Home Loan Programs Low or zero down payment loans for use in purchasing homes in rural areas USDA Information for homebuyers USDA Income and Property Eligibility Lookup |
3% Down Payment programs (Non-FHA) Bank of America- "Affordable Loan Solution" - 3% down, up to $417k, min FICO score = 660, no PMI, home buyer class required Wells Fargo - "Your First Mortgage" - 3% down, up to $417k, min FICO score = 620, has PMI, but higher debt may be allowed. Rate discount if home buyer class taken. Chase DreaMaker Mortgage(AKA -Standard Agency 97%) - up to $417k loan, 3% down with FICO score 680 or greater, has PMI, at least one purchaser must be a 1st time home buyer Citibank "HomeRun" - 3% down, up to $5k in lender closing cost assistance (some income limits apply). Loans up to $417k, but also up to $636k in some areas. 1-2 unit homes, condo, co-op, and PUD's eligible. |
Veterans AND Family members Navy Federal Credit Union - 100% financing for Veterans & Family members - NOT a VA loan, Family members also eligible!: Eligibility requirements to join credit union Veterans United - VA loan specialist with low closing costs |
1% Down, 3% Instant Equity loan - Quicken Loans- min 680 FICO, up to $417k loan. Buyer makes 1% down payment , lender provides a 2% matching GRANT (not a loan). Guaranteed Rate - min 680 FICO, up to $417k loan. Buyer makes 1% down payment , lender provides a 2% matching GRANT (not a loan). |
Santa Clara County Home Buyer Programs & Down Payment Assistance: |
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County of Santa Clara County - Office of Affordable Housing 2310 No. First Street, # 100 San Jose, CA 95131 Phone: (408) 441-4323 Santa Clara County First Time Home Buyer Programs & Down Payment Assistance: Santa Clara County MCC Program Program gives first-time home buyers a federal income tax credit of up to 15% of the interest paid on their 1st mortgage loan each year the home-buyer keeps the same mortgage loan and lives in the same property as their primary residence. |
Housing Trust of Silicon Valley 95 S. Market St., Suite 610 San Jose, CA 95113 Phone: (408) 436-3450 http://www.housingtrustsv.org Down Payment Assistance Home buyer programs for 1st time home buyers purchasing homes in Santa Clara County: Gap Assistance Program (GAP) - 20% down payment assistance (up to $57k) Min FICO 620. Buyer must have 3% down, 1.5% of own funds. Below Market Purchase Program (City of Santa Clara) |
City of Cupertino see web link for contact info Cupertino Home Buyer Programs http://www.cupertino.org/index.aspx?page=301 |
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City of Gilroy - NOT CURRENTLY AVAILABLE Gilroy City Hall 7351 Rosanna Street Gilroy, CA 95020 Tel. (408) 846-0400 Fax. (408) 846-0500 City Hall Office Hours: Monday-Thursday 8:00 a.m. to 5:00 p.m. http://www.cityofgilroy.org/cityofgilroy/ |
Town of Los Gatos Community Development Department Phone (408) 354-6874 http://www.losgatosca.gov/index.aspx?NID=316 Los Gatos First Time Home Buyer Programs http://www.losgatosca.gov/index.aspx?NID=345 Check city site regularly for BMR (below market rate) unit availability at: Housing Authority of the County of Santa Clara |
City of Morgan Hill 17575 Peak Avenue Morgan Hill, CA 95037 Tel: (408) 778-6480 http://ca-morganhill.civicplus.com/index.aspx?NID=1 Morgan Hill First Time Home Buyer Programs: BMR units http://ca-morganhill.civicplus.com/index.aspx?NID=328 |
City of Mountain View http://www.ci.mtnview.ca.us/city_hall/community_development/preservatio n/default.asp Mountain View Home Buyer Programs: BMR units http://www.ci.mtnview.ca.us/city_hall/community_development/preservatio n/home_buying.asp Mountain View City Employee Home Buyer Program http://www.ci.mtnview.ca.us/news/displaynews.asp?NewsID=498&targetid=35 |
City of San Jose - Department of Housing 200 East Santa Clara Street San José, CA 95113 Phone:(408) 535-3860 San Jose First Time Home Buyer Programs & Down Payment Assistance http://www.sanjoseca.gov/index.aspx?NID=739 San Jose Home buyer programs for first time home buyers purchasing in "Skyline" or "Tierra Encantada Townhomes" communities |
City of Santa Clara -NOT CURRENTLY AVAILABLE 1500 Civic Center Drive Santa Clara, CA 95050 Phone: (408) 615-2490 Santa Clara First TIme Home Buyer Program / Down Payment Assistance: http://santaclaraca.gov/government/departments/community- development/housing-community-services-division/homeowner-programs |
Alameda County Home Buyer Programs & Down Payment Assistance: |
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Alameda County Housing and Community Development 224 W. Winton Avenue, Room 108 Hayward, CA 94544 MCC Hotline: (510) 670 – 5246 Alameda County First Time Home Buyer Programs: MCC (Mortgage Credit Certificate) www.acgov.org/cda/mcc_program/index.htm NSP rehab homes Homes that have been purchased and remodeled/rehabbed in Alameda County utilizing NSP funds. http://www.acgov.org/cda/hcd/homeownership/nsp/forsale.htm - Program details http://homehub.org/find-your-home - Search Available NSP Homes |
City of Alameda - NOT CURRENTLY AVAILABLE 950 W. Mall Square, Suite 215 Alameda, CA 94501 Tel: (510) 749 – 5813 www.ci.alameda.ca.us City of Alameda First Time Home Buyer Programs: www.alamedahousing.com/hsg_asst.html |
City of Albany 1000 San Pablo Avenue Albany, CA 94706 Tel: (510) 528 - 5760 www.albanyca.org |
City of Berkeley 2180 Milvia Street Berkeley, CA 94704 Tel: (510) 981-5400 www.ci.berkeley.ca.us |
City of Dublin 100 Civic Plaza Dublin, CA 94568 Tel: (925) 833 – 6620 www.ci.dublin.ca.us Dublin First Time Home Buyer Program / Down Payment Assistance: http://www.ci.dublin.ca.us/index.aspx?nid=618 |
City of Emeryville 1333 Park Avenue Emeryville, CA 94608 Tel: (510) 596 – 4316 www.ci.emeryville.ca.us Home Buyer Programs http://www.ci.emeryville.ca.us/index.aspx?nid=265 |
City of Fremont 3300 Capitol Avenue, Bldg. B Fremont, CA 94537 Tel: (510) 494 – 4506 www.ci.fremont.ca.us Fremont First Time Home Buyer Programs / Equity Share: http://www.fremont.gov/index.aspx?nid=441 |
City of Hayward 777 B Street Hayward, CA 94541 Tel: (510) 583 - 4000 www.ci.hayward.ca.us Home Buyer Programs http://user.govoutreach.com/hayward/faq.php?cid=10968 |
City of Livermore 1052 S. Livermore Avenue Livermore, CA 94550 Tel: (925) 449 - 7340 Home Buyer Programs http://www.ci.livermore.ca.us/CDD/HHS/hhs.html |
City of Newark 37101 Newark Blvd. Newark, CA 94560 Tel: (510) 793 - 1400 www.ci.newark.ca.us |
City of Oakland 250 Frank H. Ogawa Plaza, Suite 5313 Oakland, CA 94612 Tel: (510) 238 - 3015 www.ci.oakland.ca.us Home Buyer Programs www.oaklandnet.com/government/hcd/loansgrants/homebuyers.html |
City of Pleasanton 200 Old Bernal Avenue Pleasanton, CA 94566 Tel: (925) 931 - 5011 www.ci.pleasanton.ca.us Home Buyer Programs http://www.ci.pleasanton.ca.us/community/housing/first-time-homebuyer.html |
City of San Leandro 835 E. 14th Street San Leandro, CA 94577-3767 Tel: (510) 577-6004. http://www.sanleandro.org/default.asp Home Buyer Programs http://www.sanleandro.org/depts/cd/housing/programs.asp |
City of Tracy 333 Civic Center Plaza Tracy, California, 95376 Tel: (209) 831-6000 http://www.ci.tracy.ca.us Tracy First Time Home Buyer Programs http://www.ci.tracy.ca.us/departments/des/community_development/ Program Brochure http://www.ci.tracy.ca.us/modules/dms/file_retrieve.php?function=view&obj_id=867 |