In spite of doom and gloom push by many, there are many people that do want to buy a home.  For most, the biggest challenge to buying a home in the greater Silicon Valley is finding the funds for a down payment.  Even with FHA availability requiring only 3.5% down may not be an option for very many come September 2011 when loan limits are potentially reduced back to $417,000.  Today I had the opportunity to attend an all day continuing education course on the availability of programs that, in a variety of ways, can help home buyers get started on the purchase of their new home. First up, the Housing Trust of Silicon Valley.  A non-profit which has been around 10 years and was formatted by leaders of the community.  The objective was to assist families and individuals to purchase homes.  In January 2011, the organization received $4 million dollars to assist over the next two years.  There are several programs offered from this group.  The Purchase Assistance Loan (PAL Program) related to Neighborhood Stabilization Program consensus neighborhoods.  This program allows buyers to purchase foreclosed homes in San Jose.  Maximum gross income of every individual in the household (over 18 years of age) begins at $86,950 for a single person up to a $163,950 for 8 individuals.  Home buyer do not have to be a 1st time home buyer but must intend to occupy the home. Borrower must also complete 8 hours of HUD related education.  If the home owner moves out and rents the property loan must be repaid.  This is a deferred loan of 20% of the purchase price up to $50,000 at 0% interest rate.  For more information about this program go to the web site or contact me. Other programs from this organization include the Closing…