San Jose Real Estate * REALTOR ® * Richard Gonzalez

Santa Clara County has programs to put first time home buyers into homes specifically in the unincorporated areas including the Burbank area near Santana Row. The program is run by the Housing Trust and relies on grants and is available at various times of the year depending on the availability of government funds.

Timing is Everything

Programs like these are available until the pot of money runs out making it a challenge for some and perfect timing for others. Buyers considering this type of program should check with the Housing Trust before counting on it’s assistance.

Housing Trust Programs for First Time Home buyers

The three programs comprise of the following:

Closing cost assistance – $6,500 to help with buyers closing costs

Down Payment Assistance - $15,000 low interest loan deferred for 60 months

Mortgage Assistance – Applications available September 8th 2009

Income Limits are the Catch

Generally any government funded programs like this are meant for buyers who need that extra help to get the over the top and into a home. Here are the income limit requirements for 2009.

Broker’s Advice

Use this resource of funds to help structure your offer, this will help you write a stronger offer.  Especially if you are not having to ask a seller to credit you for closing costs and if you can show that you have a larger pool of  funds to close because you qualify for one or more of these programs.

For more information click on the following:

Housing Trust Website link here