Funds are currently available.
Housing Trust Silicon Valley’s Closing Cost Assistance Program is the most popular of our four programs designed to help qualified first-time homebuyers in our community, and is available in the cities of Campbell, Los Gatos, Milpitas and Mountain View.
Maximum Income by Household Size
Who it Helps
First-time homebuyers earning up to 120% AMI who have not owned a home in the last three years. As shown above, the household income for a four-member household cannot exceed $127,550; or the income for a single-member household cannot exceed $89,300.
How it Helps
Our Closing Cost Assistance Program (CCAP) has helped Santa Clara County’s teachers, engineers, nurses, cooks, and other qualified individuals and families buy their first home in Santa Clara County by providing 20% of the purchase price up to $50,000 towards the down payment, closing costs or other transaction expenses associated with a home purchase. This loan is due on refinancing or sale of the home or 30 years, with a 3% deferred interest rate. No interest or principal payments are due during the term of the loan. Your loan officer or mortgage broker will submit an application on your behalf to the Housing Trust if you qualify.
For more details, please download the CCAP guidelines.
Steps to Homeownership
Important Loan Program Requirements
Applicants must complete an 8 hour HUD approved Homebuyer Education class through a designated agency. Visit our Homeownership Calendar to see upcoming HUD approved homebuyer education classes.
Obtaining a pre-approval letter from a Certified Loan Officer/Mortgage Loan Originator (Lender) is required to determine eligibility. A pre-approval letter indicates that the Lender has reviewed your financial situation for obtaining a loan to purchase your home.
Download our Certified Loan Officer List.
Mortgage Loan Originators/Loan Officers are required to attend a Lender Training Workshop and have a Lender Participation Agreement. Please go to our Homebuyer Calendar for our next Lender Workshop.
Program Eligibility Determination Required- Prior to Purchasing a Home
First-time homebuyers must complete the Homebuyer Assistance Program Eligibility Application and submit along with the required documents prior to purchasing a home. First-Time Homebuyers are required to have obtained a Pre-approval from a Lender. Download a copy of the Certified Loan Officer List.
Applicants should not enter into a purchase contract prior to receiving determination of Program Eligibility from the Housing Trust.
Loan Application – Property Selected and Purchase Agreement Signed
A Loan Application must be completed by the Loan Officer/Mortgage Loan Originator (Lender). The Loan Application and its documents must be delivered by the Lender to the Housing Trust within 7 days.
Download a copy of the Homebuyer Assistance Programs Loan Application.
For more information, contact the Homeownership Programs at (408) 436-3450 ext. 303