Potential homebuyers may qualify for one of the housing assistance programs provided by the Housing Trust of Santa Clara County:

The Closing Cost Assistance Program provides 3 percent of the purchase price up to $15,000 towards the down payment, closing costs or other transaction expenses associated with a home purchase. This loan is due on refinancing, sale of the home, or in 30 years, with a 3 percent deferred interest rate. The program is for first-time homebuyers who earn up to 120 percent of the county median household income.

The Mortgage Assistance Program offers a conventional second mortgage that provides 17 percent of the purchase price up to $85,000, with payments due monthly. The interest rate is 1.5 percent above the interest rate on the first loan and carries a 30-year term. This program is for first-time homebuyers. The program is for first-time homebuyers who earn up to 120 percent of the county median household income.

The Purchase Assistance Loan is a deferred second loan of up to $50,000 to help with the purchase of homes in San Jose that are foreclosed, abandoned, or at risk of foreclosure. The loan is due on refinancing, sale of the home, or in 30 years, with a 3 percent deferred interest rate per year. The down payment requirement for this loan has been reduced from 3 percent to 1 percent. The program is for homebuyers who earn up to 120 percent of the county median household income and purchase a foreclosed home in a designated area for primary residence.

For more information and to see if you qualify, please click here.