A new program to help first-time homebuyers with a $5,000 grant towards closing costs is now available from Housing Trust Silicon Valley.
The Housing Affordability Fund was launched with $100,000 from the California Association of REALTORS® Housing Affordability Fund plus additional donations for operational costs contributed by the Santa Clara County REALTOR® Foundation and the Silicon Valley REALTORS® Charitable Foundation.
"Local Realtors have partnered with the Housing Trust since our founding in 2000 and have worked with us to make home ownership a reality for thousands of local families," said Housing Trust CEO Kevin Zwick.
Paying closing costs is the last step to purchase a home, but it is often difficult since the homebuyer may have tapped out all resources in order to make a down payment. This grant will help more families achieve their dream of owning their own home.
The Housing Affordability Fund is our latest initiative to help low and moderate income families purchase their first home. Be on the lookout in the near future for an announcement for another new program that will offer equity sharing opportunities to moderate income first-time homebuyers!