Funds are available.
The Housing Trust has low-interest, down payment or closing cost loan programs for low- to moderate-income households. Since 2001, 40% of all loans have been made to low- income families with the remainder going to moderate-income families.
Eligibility for the loan programs are based on income eligibility. Income eligibility is determined by the gross annual household income, household size, loan repayment terms and maximum loan amount.
Each program has its own program guidelines; please review each program’s page for additional requirements. See program matrix below.
- Review our handouts Steps to Homeownership with the Housing Trust and Applying for HTSV Homebuyer Assistance Programs.
- Attend an in-person HUD certified 8 hour Homebuyer Education class from Project Sentinel. Applicant and any co-applicants/co-borrowers (who will be either on the loan or on title, including non-borrowing spouses) are required to attend the class.
- For upcoming classes, visit Project Sentinel’s website.
- Obtain a pre-approval letter from a Preferred or Certified Loan Officer/Mortgage Loan Originator (Lender). A pre-approval letter indicates that the Lender has reviewed your financial situation for obtaining a loan to purchase your home. A pre-approval letter is required to determine eligibility.
A Preferred Loan Officer list is available. Contact the Homeownership Programs department if you want to confirm that your loan officer is certified.
Mortgage Loan Originators/Loan Officers interested in participating in the programs are required to attend a Lender Training Workshop and have a Lender Participation Agreement. Please go to our Homeownership Calendar for our next Lender Workshop.
Interested Lenders, please download our General Underwriting Guidelines.
Program Eligibility Determination Required – Prior to Purchasing a Home
The Housing Trust offers first-time homebuyers the opportunity to find out if they are Program Eligible for our loan programs.
After receiving a pre-approval letter from the lender, the first-time homebuyer completes the Homebuyer Assistance Program Eligibility Application and submits it along with the required documents prior to purchasing a home. Contact Housing Trust staff at firstname.lastname@example.org to set up an appointment.
Upon eligibility determination, applicants will receive a Program Eligibility/Pre-Approval letter.
Applicants should not enter into a purchase contract prior to receiving determination of Program Eligibility from the Housing Trust.
Loan Application – Property Selected and Purchase Agreement Signed
A Homebuyer Assistance Program Loan Application must be completed by the Loan Officer/Mortgage Loan Originator (Lender) and signed by the Buyers. The Loan Application and its documents are delivered by the Lender to the Housing Trust within 10 days.
For more information, contact the Homeownership Programs at email@example.com or (408) 436-3450 ext. 303
Homeownership Assistance Programs
Click on the program name in the chart below for more information about the individual programs.
|Gap Assistance (GAP)|
|Max. Loan Amount||20% of the purchase price, up to $95,000|
|Interest Rate||3% simple interest, accrues annually|
|Monthly Payments (Principal and Interest)||Deferred|
|Areas Available||Santa Clara County|
|First-Time Buyer Status Required||Yes|
|8-Hour Homebuyer Class Required||Yes|
|Income Limit||Low (80% of Area Median Income)|
|Pre-Approval is Available||Yes|
|Maximum Sales Price of Home||$582,500|
For income limits, please see the Gap Assistance Program page and program guidelines.
NOTE: For GAP, Gross Income means all anticipated eligible income of a person or household for the 12-month period following the date of determination of income. Income will be determined using California Code of Regulations Title 25 Section 6914.