Dear Member,

Please read the following important information about the Housing Affordability Fund's Home Essentials Program, and the latest economic stimulus update from CAR. Please also note the enclosed reminder about CAR and NAR dues. The deadline to pay dues is January 11.

Thank you,

Kevin
Starting January 8th, you can apply on behalf of your clients for the California Association of REALTORS® Housing Affordability Fund (HAF) Home Essentials Program. 
 
So, what exactly is the HAF’s Home Essentials Program:
C.A.R.’s Housing Affordability Fund’s Home Essentials Program will provide qualified first-time California homebuyers a $1,250 Lowe’s Gift Card to purchase appliances for their new home. Due to limited availability, funds will be distributed on a first come/first served basis.
 
Launch Date: January 8, 2021 (applications will be available beginning January 8th) 
 
How to Qualify:
  • Be a first-time homebuyer
  • Homebuyers must use a California REALTOR® in the transaction
  • Purchase a primary single-family residence in California with the intent to occupy the property as a primary residence
  • The conforming loan amount on the single-family residence must be at or below the FHA conforming loan limit
  • The purchase of the single-family residence must use financing. All-cash purchases do not qualify

HAF must receive all program requirements below no later than thirty (30) days after closing escrow:
  1. Home Essentials Program Application and Home Essentials Certification Form
  2. Purchase Contract
  3. Closing Disclosure Form
 
How to Apply:
REALTORS® must complete a Home Essentials Program application and Home Essentials Program Certification form on behalf of their client. The Home Essentials Program application form along with rules and conditions for HAF’s Home Essentials Program are available HERE: 
 
PLEASE NOTE: Link for application will be available January 08, 2020 at www.carhaf.org 
Starting this Wednesday, REALTORS® can apply for California’s new relief grant program for small businesses affected by the COVID-19 pandemic. The program provides micro grants ranging from $5,000 to $25,000 to eligible small businesses (including independent contractors and sole proprietors) impacted by COVID-19 and the related health and safety restrictions. The grant amount will be based on the business’s annual revenue as documented in its most recent tax return:

  • For annual revenue of $1,000 to $100,000, the available grant amount is $5,000.
  • For annual revenue of greater than $100,000 up to $1,000,000, the available grant amount is $15,000.
  • For annual revenue of greater than $1,000,000 up to $2,500,000, the available grant amount is $25,000.

A small business must satisfy certain criteria to be eligible to receive a grant award — read the criteria in full here. Please keep in mind that even if you meet all eligibility requirements, it is not guaranteed you will receive a grant. 
Applications for the program must be submitted through a Community Development Financial Institution (CDFI) that has partnered with the state of California to distribute the funds. The list of partners, organized by location and by language services, can be found here.

The first round for applications opens on December 30, 2020, at 8:00 a.m. and closes on January 8, 2021, at 11:59 p.m. Approval notifications will begin on January 13, 2021. There will be a second round for application submissions and reviews, although the dates for that round have not yet been announced.