Santa Clara County Grand Jury produced a report on the housing crisis in Santa Clara County and recommendations that local governments can implement to alleviate it.
- Increasing the scope and breadth of supportive housing for special needs populations, including homeless and chronically homeless persons;
- Increasing the supply of housing that is affordable to extremely low income (ELI) households; and,
- Improving coordination and collaboration among the County, the cities, other governmental agencies, and the affordable housing community.
The County of Santa Clara Office of Supportive Housing released the Measure A Notice of Funding Availability (NOFA) in September, 2017. Interested developers can submit an application for Measure A funds through the Measure A NOFA.
The Home Investment Partnerships Program ("HOME Program") is federally funded by the United States Department of Housing and Urban Development (HUD) to provide decent affordable housing to lower income households. The HOME Program is administered by Santa Clara County on behalf of the Urban County cities and the Cities of Cupertino, Gilroy, and Palo Alto. Interested developers can submit an application for HOME Program funds through the Measure A NOFA.
Homebuyer Homebuyer Empowerment Loan Program (HELP)
Helps First Buyers!
Housing Trust Silicon Valley provides loans to low and moderate income homebuyers in Silicon Valley in the form of low-interest second mortgages and downpayment assistance. Visit our homebuyer calendar to see monthly scheduled workshops and HUD approved homebuyer education classes. Housing Trust Silicon Valley is assisting homebuyers by introducing the Homebuyer Empowerment Loan Program (HELP). This program will help households whose incomes are up to 140% of the Area Median Income (AMI) to purchase a market-rate primary residence.
HELP will assist middle-income first-time homebuyers with down payment assistance of up to 10% of the purchase price with a maximum purchase price of $800,000. This loan is a thirty (30) year deferred loan plus a share of appreciation. Borrowers will repay the principal loan amount plus a share of the appreciation based on the percentage of the loan borrowed through HELP. No monthly principal or interest payments required! Payment is deferred until Maturity Date is reached, sale of the home or refinance of the first mortgage. The Program Market Area covers Santa Clara County and the San Mateo County cities of East Palo Alto and Menlo Park.
Empower Homebuyers SCC - a 2016 Measure A down payment assistance program created by the County of Santa Clara and administered by Housing Trust Silicon Valley - is now open. Empower Homebuyers is intended to put the dream of home ownership within reach for low to moderate income people - including nonprofit workers, teachers, healthcare professionals, county employees and others - who are trying to buy a home in Santa Clara County.
An Empower Homebuyers down payment assistance loan is a 30 year deferred loan, plus a percentage of the home's appreciation that matches what a homebuyer borrows - which means if a homebuyer borrows 17% of a home's original purchase price the share of appreciation is only 17%. No monthly principal and interest payments are required and share of appreciation is capped for the first ten years of the loan. Payment is deferred until the loan reaches maturity date, the home is sold, the mortgage is refinanced or the home becomes no longer owner occupied.
Small Homes, Big Impact is a new pilot program from Housing Trust offering free educational workshops and financial assistance to homeowners seeking to build a secondary dwelling – commonly known as an accessory dwelling unit (ADU) – in their backyard.
The workshops intend to answer the following five questions:
- Can I build an ADU on my site?
- How do I get a permit to build an ADU?
- How do I hire a builder and manage construction?
- How do I pay for an ADU?
- I’m a landlord, now what?
The workshops are led by local ADU Practitioners (land use consultants, builders, designers, architects, lenders etc.) during a half day course, typically on a Saturday.
The financial assistance program is currently being developed, it will consist of a planning grant and a construction loan. Products will be available in early 2019, register for more information.
The Mortgage Credit Certificate Program (MCC), authorized by Congress in 1984, provides financial assistance to first-time homebuyer's. The Santa Clara County MCC tax credit reduces the federal income taxes of qualified Borrowers purchasing qualified homes; thus having the effect of a mortgage subsidy. The current tax credit rate is 15% of the interest paid to the Lender on the first loan or up to 15% based upon an individuals personal tax situation. The MCC will reduce the amount of federal income taxes otherwise due to the federal government from the Borrower; however, the mortgage tax credit cannot be claimed as a refund. MCC Borrowers may consider adjusting their federal income tax withholdings so as to benefit on a monthly basis from the MCC. For more information on how to claim the tax credit refer to IRS Publication 530.
Nothing is more important than having a roof over your head, and the Haven to Home Program was created to provides supportive services and access to stable housing resources for homeless and chronically homeless individuals and families. Working closely with our staff, clients secure permanent affordable housing, find and maintain employment, and work toward developing greater stability and independence.
The Housing Choice Voucher (Section 8) program is HACSC’s largest rental assistance program with about 17,000 participants. The “housing choice voucher” is a 100% federally funded rental subsidy for low-income households living in privately owned rental units. HACSC voucher holders in the Moving to Work (MTW) program pay 32% of their gross income toward rent (or a minimum rent of $50, whichever is higher), and the agency pays the balance of the rent directly to the landlords on behalf of the families. Voucher holders are also required to pay that portion of their lease contract rent that is above HACSC’s payment standard for their unit size.
Over the past 30 years Habitat for Humanity East Bay/Silicon Valley has served over 8,000 individuals in Alameda, Contra Costa, and Santa Clara counties by providing affordable homeownership opportunities to low-income families who meet three criteria:
- Earn an income between 30%-80% of area median income, as defined by the U.S. Department of Housing and Urban Development.
- Have a need for housing.
- Are willing to partner with Habitat for Humanity and contribute hundreds of hours of sweat equity hours to the construction of their own home, or their neighbor's home.
Project Sentinel is a non-profit organization and a HUD-Approved Housing Counseling Agency. They provide homeownership counseling, mortgage delinquency counseling, and a variety of other housing related services to the community.
Santa Clara Office Telephone: 408.720.9888 or 888.324.7468