With all the media coverage on the sub-prime lending market many clients I talk with are worried that their chance to buy a home in the Bay Area is slipping away. As your local resource I wanted to offer some great links to various assistance programs available to buyers here in the Bay Area.
California Housing and Finance Agency:
California Housing Finance Agency offers below-market interest rates on first mortgages and down-payment assistance through specific lenders. They also offer $25,000 dererred repayment loans CHAP Loans Extra Credit Teachers Home Purchase Program, Multifamily and Mortgage Insurance Programs(916) 322-3991.
Housing Trust of Santa Clara County has several housing programs. It offers a loan program of as much as $6,500 to cover closing costs or a down payment for low-income buyers.
City of Campbell offers Affordable Home Ownership Program
City of Cupertino Community Services offers a Below Market Program
Los Gatos Below Market Housing Program
Mortgage Credit Certificate Program provides a credit on federal income tax for low-income buyers. (408) 299-5160.
Neighborhood Housing Services Silicon Valley offers no-interest second mortgages, mostly in San Jose, that require no payments in the first five years. (408) 279-2600.
Northern California Housing Coalition offers a directory of housing assistance programs for all of Northern California.
Teacher Homebuyer Program for full-time teachers in San Jose schools offers no-interest, no-payment loans. (408) 277-8486 or (408) 277-2266.
If you have questions about these programs or would like recommendation for lending professionals that can help you get the ball rolling on owning your own home drop me an email at CJ@CJBRealEstate.com or call me at (408) 406-6035