🏡 New Bay Area Program Offers Up to $200,000 Toward Your First Home
- Michael Belfor
- 2 days ago
- 2 min read
Buying a home in the Bay Area just got a lot more possible. With high home prices and limited affordable options, many first-time buyers feel like they’re priced out before they even begin. But thanks to a new program launched through Housing Trust Silicon Valley, there’s a powerful new way forward — and it’s called the Home Access Program.
This new initiative is designed to help lower-income households in Alameda and Contra Costa Counties become homeowners. Through special funding from the California Department of Housing and Community Development (CalHome Program), qualified buyers can receive up to $200,000 in down payment assistance — with no monthly payments required.
Here’s how it works: Eligible buyers can borrow up to 40% of the purchase price, with a maximum loan of $200,000. The loan is deferred for 30 years and carries a simple interest rate that accrues over time. That means no principal or interest payments are due until you sell the home, refinance, or reach the end of the loan term. This structure helps keep monthly housing costs affordable.
To qualify, buyers must meet a few basic requirements:
Be a first-time homebuyer purchasing a primary residence
Buy a home in Alameda or Contra Costa County
Live or work in the Bay Area
Earn no more than 80% of the Area Median Income (AMI)
Complete an 8-hour HUD-certified homebuyer education course
Have at least 3% of the purchase price saved for down payment and closing costs
Homes eligible for this program include single-family residences, townhomes, and condominiums. Whether you're working locally or raising a family nearby, this program is meant to give you a fighting chance at homeownership in a very competitive market.
Want to see if you qualify or get started with the pre-qualification process?
Please see this LINK
This is one of the most generous homebuyer programs we’ve seen in years — and it could make all the difference for buyers who just need a little help to cross the finish line.