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Homebuyer Programs

 

 

Homebuyer Education Classes

The following HUD homebuyer education classes are offered in San Jose:

*Certificate of completion of a HUD-certified homebuyer education class is required prior to City loan approval.


Upcoming Informational Workshops

The Housing Trust of Santa Clara County and the San Jose NSP2 Consortium invite you to attend a workshop to learn more about the Purchase Assistance Loan (PAL) program, a deferred second loan of 20% of the purchase price up to $50,000 to assist qualified homebuyers purchasing Foreclosed/REO properties in designated areas of San Jose. NSP2 funds, part of the American Recovery and Reinvestment Act (ARRA), will reduce the number of foreclosed and abandoned homes in the target areas and help to stabilize the housing market. Learn about the City of San Jose Dream Home Program and the Housing Trust's other first-time homebuyer programs.

Please RSVP by email to jeanette@housingtrustscc.org.



Homebuyer Program Summaries/Disclosures

The City of San Josť homeownership programs are an important component of its overall housing strategy. The following programs are available for potential homebuyers in San Josť:


Homebuyer Program Comparison Chart

Building Equity & Growth in Neighborhoods (BEGIN) Dream Home
(aka NSP)
Welcome Home
Maximum Income Moderate Low Moderate Low
Maximum Loan Amount Up to 20% of Sales Price Up to 20% of Sales Price Up to 10% of Sales Price $25,000
Loan Term 30 Years 30 Years 30 Years 30 Years
Interest Rate 3% Simple Interest 3% Simple Interest 3% Simple Interest 3% Simple Interest
Property Location Restrictions Specific new construction developments listed on the BEGIN link above Refer to eligible renovated homes listed on the NSP link above Refer to eligible renovated homes listed on the NSP link above Citywide



Income Levels

The following income levels have been updated as of February 2012:

Household Size
Income Limits 1 2 3 4 5 6
Low $53,000 $60,600 $68,150 $75,700 $81,800 $87,850
Moderate $88,200 $100,800 $113,400 $126,000 $136,100 $146,150


Application


Supplemental Application Forms (if applicable)


Asset/Income Worksheets


Verification forms for no-income household members


Underwriting Guidelines


Resources


Partners


Loan Documents