California Association of Realtors provides additional funding for $10,000 closing cost grant

Published on

CALIFORNIA – The California Association of Realtors (CAR) announced Monday, that they are providing an additional $500,000 for closing cost assistance to their Housing Affordability Fund (HAF). 

Eligible first-time California homebuyers from an underserved community can apply for a grant up to $10,000. 

CAR says the additional $500,000 brings the total to $2 million for HAF. The Neighborhood Partnership Housing Services (NPHS) is administering the grant throughout the 58 California counties.

Countless studies have found that homeownership is critical to building generational wealth and economic security for working families,” said CAR President Jennifer Branchini.

So far, the grant program has helped 156 first-time home buyer families from an underserved community in California.

Eligibility

Requirements for eligibility include:

  • Recipient (one individual if two or more will be purchasing together) must be a member of an underserved community.
  • The property being must be a single-family residence.
  • The purchased property must not have an affordable housing deed restriction that limits Recipient’s ownership rights in the property’s equity or creates shared equity homeownership that prevents the public resale of the property.
  • Recipient’s income must be no more than 120% of the Area Median Income
  • Recipient must be represented by a member of the California Association of REALTORS® in the transaction.

RELATED: CA Dream for All 20% down payment program gets additional $200 Million in funding

For more information about HAF and to apply visit: https://nphsinc.org/home-ownership-center/car-haf-closing-cost-assistance-program/

spot_img

Latest articles

Smoke advisory due to Vista fire in effect until July 10

SAN BERNARDINO COUNTY – The Mojave Desert Air Quality Management District (MDAQMD) is advising...

CA private industry lost 154,000 jobs while the public sector gained ​​361,000 jobs

CALIFORNIA – The California Legislative Analyst Office (LAO) published a report, July 1, with...

Victorville offering free kitchen food scrap containers for residents

VICTORVILLE – The City of Victorville, on July 8, announced that they would be...

Proposition 32 will allow voters to decide on $18 minimum wage for all California workers

CALIFORNIA – California voters will get to decide, November 5, on Proposition 32, a...
Powered by Foreclosure.com

More like this

Board of Supervisors requesting CA to declare a state of emergency for insurance crisis

SAN BERNARDINO COUNTY – The San Bernardino County Board of Supervisors passed a resolution,...

California gas tax to increase to 59.6 cents per gallon July 1

CALIFORNIA – The California Department of Tax and Fee Administration (CDTFA) announced to retailers...

CalHFA issues all 1,700 vouchers for down payment assistance program

CALIFORNIA – Governor Gavin Newsom announced, June 28, that 1,700 first-generation homebuyers have been...