Financial Assistance
A compilation of services provided by agencies and organizations through financial assistance or guidance to where those in need could get cash assistance, rental, food, and other financial aid.
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SAN JOSE
Sacred Heart Community Service (SHCS)
RENTAL AND DEPOSIT ASSISTANCE -offer other direct financial assistance to support households with financial need and prevent community members from being unhoused, and assist in past-due rent, emergency security deposit (to move in to a new place), utility assistance, and public transportation.
To avail: One must be a resident of Santa Clara County for at least thirty days before applying.
All financial assistance goes directly to the landlord, not to the member applying. You can get more information about the Rental Assistance Fund by calling (408) 780-9134 or emailing [email protected].
75 E Santa Clara St # 1350, San Jose,
CA 95113, United States
2 ways of Homeownership Assistance
Empower Homebuyers is a down payment assistance loan for first-time homebuyers in Santa Clara County. If a homebuyer has at least 3% of a home’s purchase price saved up, an Empower loan can provide 17% of the price – enabling a down payment of 20% on a home with a sale price of up to $1,100,000.
*No matter the amount borrowed, there are no monthly payments or interest with an Empower homebuyers loan. Instead, when the loan matures, you decide to sell or you refinance your mortgage, you repay the original amount of your loan plus a share of the appreciation of your home.
You will share your appreciation in equal proportion to the amount you borrowed. This means if your loan was 17% of the purchase price, you will share 17% of the appreciation and the rest of the equity that builds up on your home over time is yours. For instance, if you buy a house for $600,000 and use Empower to borrow 17% ($102,000) for the down payment, and the home is later sold for $800,000, you would owe a total of $136,000 (the original loan amount of $102,000, plus $34,000/17% of the $200,000 appreciation).
* Homebuyer Empowerment Loan Program (HELP) HELP assists first time homebuyers with incomes slightly higher than Empower Homebuyers SCC and other down payment assistance programs by allowing a middle-income first-time homebuyers to borrow up to 10% of a home’s purchase price – which means an additional 10% from a first-time homebuyer would reach a down payment of 20%.
*No matter the amount borrowed, there are no monthly payments or interest with a HELP loan. Instead, when the loan matures, you decide to sell or you refinance your mortgage, you repay the original amount of your loan plus a share of the appreciation of your home.
You will share your appreciation in equal proportion to the amount you borrowed. This means if your loan was 10% of the purchase price, you will share 10% of the appreciation and the rest of the equity that builds up on your home over time is yours. For instance, if you buy a house for $600,000 and use HELP to borrow 10% ($60,000) for the down payment, and the home is later sold for $800,000, you would owe $80,000 – $60,000 plus $20,000 (10% of the $200,000 appreciation).
Finally Home Security Deposit program provides a one-time grant up to $2,500 to individuals and families moving to permanent sustainable housing. Applications are made by partner agencies, and priority is given to individuals or families with the greatest need – those who can sustainably remain in permanent housing and are able to demonstrate long-term self-sufficiency.
Qualifications for Empower homebuyers
–You are a first-time homebuyer buying a primary residence in Santa Clara County
-You can put down a minimum of 3% of a home’s purchase price
-You must owner occupy the home -You have pre-approval from an approved California-licensed lender (done prior to submitting application)
-You have completed a HUD-certified 8 Hour Homebuyer Education class through the designated agency
*The gross household income, including all adult household members, must not exceed 120% of the Area Median Income
Program Requirements
1. Purchase price does not exceed $1,100,000
2. Your first mortgage must be 30-year fixed
3. Shared Appreciation: Share of Appreciation, capped for the first ten years of the term of the loan. After ten years, no longer capped. Percentage Share of Appreciation based on percentage of Original Empower Homebuyers SCC principal loan amount to the original purchase price of the home
4. Maximum loan amount: Up to 17% of the purchase price
2.
Qualifications for HELP
–You are a first-time homebuyer buying a primary residence in Santa Clara County or the cities of Menlo Park or East Palo Alto
-You must owner occupy the home
-You have pre-approval from an approved lender (done prior to submitting application)
-You have completed a HUD-certified 8 Hour Homebuyer Education class through the designated agency
-You can put down a minimum of 3% of a home’s purchase price
*The gross household income, including all adult household members, must not exceed 140% of the Area Median Income
Program Requirements
1. Purchase price does not exceed $800,000
2. Your first mortgage must be 30-year fixed
3. Shared Appreciation: Percentage Share of Appreciation based on percentage of original HELP principal loan amount to the original purchase price of the home
4. Maximum loan amount: Up to 10% of the purchase price
How to apply:
1. Complete Online Interest Form (Housing Trust staff will contact you within 3 business days to begin pre-qualification.)
2. Attend Homebuyer Education All borrowers (including non-borrowing spouses) must attend a HUD-certified Homebuyer Education through an in-person or online class from a designated agency
3. Receive pre-approval from a Participating Lender Housing Trust works with all approved California-licensed lenders
4. Eligibility Application With lender pre-approval, complete a Program Eligibility Application and contact Housing Trust staff for an appointment
5. Shop for a home! After you receive your program eligibility approval letter.
6. Submit a Purchase Loan Application Once your purchase sales agreement has been ratified, work with your lender to submit a Purchase Loan Application.
7. Meet for a Counseling Session Once approved, meet with Housing Trust for 1 on 1 counseling session
8. Close on your new home, move in and enjoy!
Qualifications & Applying
Applications for a Finally Home grant must be submitted on behalf of the applicant by one of the partner agencies listed below:
Abode Services
Amigos de Guadalupe
Community Solutions
County of Santa Clara
Family Supportive Housing, Inc.
Goodwill Silicon Valley
The Health Trust
Housing Choices Coalition
LifeMoves
Midtown Family Services
New Directions
Next Door Solutions for Domestic Violence
Sacred Heart
Silicon Valley Independent Living Center
*If you’re an organization interested in providing Finally Home grants, please contact [email protected] to learn how to become a partner agency.
Other Qualifications
Individuals and families moving into rental housing within the County of Santa Clara and are experiencing or at risk of experiencing homelessness may qualify for a Finally Home grant.
The maximum household income also cannot exceed 80% of Santa Clara County’s area median income.”
MILPITAS
Sacred Heart Community Service (SHCS)
RENTAL AND DEPOSIT ASSISTANCE – offer other direct financial assistance to support households with financial need and prevent community members from being unhoused, and assist in past-due rent, emergency security deposit (to move in to a new place), utility assistance, and public transportation.
To avail: One must be a resident of Santa Clara County for at least thirty days before applying. All financial assistance goes directly to the landlord, not to the member applying.
You can get more information about the Rental Assistance Fund by calling (408) 780-9134 or emailing [email protected].
CUPERTINO
City of Cupertino Assistance for De Anza Students
1. Housing Assistance Grants – Students who live in Cupertino can apply for limited cash grants to help them avoid eviction or pay move-in costs, so they’re able to continue with their education at De Anza.
2. House Sharing Program – Students can apply to be matched with a Cupertino resident who has room available to rent. While each situation is unique, this typically means renting a bedroom and sharing other living space, such as the kitchen.
Applications will be screened by the college and West Valley Community Services, which will distribute funds to students who qualify.
In order to apply for a Housing Assistance Grant, you must live in Cupertino and
1. Be currently enrolled in at least six units at De Anza
2. Have already completed 12 units or more at De Anza
3. Have submitted the FAFSA (Free Application for Federal Student Aid) or California Dream Act Application
4. Meet the eligibility requirements for the California College Promise Grant (formerly known as the Board of Governors Fee Waiver)
5. Be accepted as a client by West Valley Community Services
In order to qualify for the Cupertino House Sharing Program, you must
1. Be currently enrolled in at least six units at De Anza
2. Have already completed 12 units or more at De Anza
3. Have submitted the FAFSA (Free Application for Federal Student Aid) or California Dream Act Application
4. Meet the eligibility requirements for the California College Promise Grant (formerly known as the Board of Governors Fee Waiver)
5. Be a resident of Cupertino or be willing to move there
City of Cupertino Emergency Assistance Funds for Cupertino Tenants Impacted by COVID-19
City of Cupertino / Meriwest Credit Union Emergency Assistance Funds for Cupertino Tenants Impacted by COVID-19 – The City of Cupertino has partnered with Meriwest Credit Union to provide $100,000 in emergency assistance loan funds to Cupertino tenants impacted by COVID-19.
West Valley Community Services Emergency Assistance Funds for Cupertino Tenants Impacted by COVID-19 The City of Cupertino contributed $50,000 in emergency assistance funds to WVCS to assist Cupertino tenants impacted by COVID-19. Eligible households can receive up to $5,000 in grant funds on a first-come first-serve basis while funds are available. Household income may not exceed 100% AMI.
For more information call 1-877-MERIWEST (637-4937) or visit Meriwest.com/rentrelief
Please contact WVCS for information, referrals, and services: [email protected] or 408-366-6092.
CAMPBELL
Catholic Charities of Santa Clara County
COVID-19 Rent Relief Program – is a State of California program that will help income-eligible households pay rent and utilities, both for past due and future payments. The program helps families stay in their home and meet the minimum requirement to avoid eviction.
Statewide Eviction Protections – The law temporarily protects tenants from eviction actions being taken for non-payment of rent if the tenant has notified the landlord that due to impacts from the COVID-19 emergency, they are unable to pay full rent. Also until June 30, 2021, a landlord cannot terminate (evict) a tenant without a legal reason (“just cause”).
Eligible renters and landlords can apply directly online at HousingIsKey.com or call Catholic Charities at 408 273-7478
To avail statewide protection, Tenants who notify their landlords of COVID-19 financial impacts CANNOT BE EVICTED on the basis of unpaid rent between March 2020 and June 30, 2021 provided they: Sign and return to their landlord a declaration of COVID-19 related financial impacts; AND Pay at least 25% of the rent due between September 1, 2020 and June 1, 2021 (must pay a total of 25% of the rent due during this period no later than June 30, 2021).
Sacred Heart Community Service (SHCS)
RENTAL AND DEPOSIT ASSISTANCE – Sacred Heart Community Service (SHCS) offer other direct financial assistance to support households with financial need and prevent community members from being unhoused and provided the assistance with past-due rent, emergency security deposit (to move in to a new place), utility assistance, and public transportation.
SANTA CLARA COUNTY HOMELESSNESS PREVENTION SYSTEM – provides critical assistance to low-income families and individuals at imminent risk of becoming homeless. Assistance may include immediate cash relief, legal support, and/or other case management services.
STATE PROTECTIONS FOR TENANTS BEHIND ON RENT – provides important eviction protections for residents who are unable to pay rent as a result of the COVID-19 pandemic.
One must be a resident of Santa Clara County for at least thirty days before applying. All financial assistance goes directly to the landlord, not to the member applying. You may email at [email protected] to write us a message or call 408-709-2364.
For Assistance please contact, Homelessness Prevention System Referral Line(408) 926-8885 or send email to: [email protected]
Certain conditions must be met and steps must be taken to qualify for these protections. For more information, please visit the Law Foundation of Silicon Valley or you can also learn more here about tenant rights, eviction protections, and how you can keep your home in Santa Clara County.