• Rental Assistance Programs
• Home Buying Assistance Programs
• Home Finance Seminars
• Community Assisted Home Buying Program (CAHBP)

The Housing Trust Fund of Santa Clara County (HTFSCC) recently established two new programs for “First-Time” homebuyers. Please note that these programs are available to people have not owned a home in Santa Clara County within the past year. Click here for more information.

If you are a community member with a rental property you would like to rent to teachers, please contact Dee Towner at 354-2520 x237 or dtowner@lgsuhsd.org. Dee will help you list your property in our Classified Classifieds. Please provide your name, phone number, a brief description of the rental (address, number of bedrooms and bathrooms, rent amount, special features, and a contact name and phone number for the property). Rentals will be needed especially throughout the summer.

If you have information on rental and/or home buying assistance programs that would be of interest to teachers, please contact Lisa Liu at lisagliu@yahoo.com or Charlotte Sparacino at 741-0318, so that we can make the information available on this webpage.

If you are interested in participating in our Community Assisted Home Buying Program as an investor or homebuyer, contact Lisa Liu (741-4824, lisagliu@yahoo.com) or Charlotte Sparacino (741-0318, sparatoga4@aol.com)

Note

We cannot provide advice or recommendations. The content included in the Information Clearinghouse on Housing Assistance Programs is for informational and educational purposes only. Although this service may provide information relating to home finance approaches and opportunities to rent or buy homes, you should not construe any content available through this clearinghouse as legal, tax, investment, financial, or other advice.

No content on our web site constitutes a solicitation, recommendation, endorsement, or offer by the Teacher Housing Initiative Committee to buy or rent any property. Users of this web site alone will be responsible for evaluating the merits and risks associated with the use of any service noted in this website. In exchange for using the Information Clearinghouse on Housing Assistance Programs, you agree not to hold the Teacher Housing Initiative Committee or any Third Party Provider liable for any possible claim for damages arising from any decision you make based on information made available to you through this web site.

1. Tri-county Apartment Association's Move in for Less Program: The Tri County Apartment Association provides rental resources for renters in Santa Clara, San Mateo and Santa Cruz counties. A particularly helpful program co-sponsored by TCAA is the "Move in For Less" program. This program provides assistance in reducing the costs of renting apartments where California law allows for security deposits in rental housing of up to 200% the monthly rent in unfurnished apartments, and 300% the monthly rent in furnished apartments. The companies and properties listed in this website have agreed to require no more than 20% of the monthly rent as a security deposit from qualified teachers.
2. California Housing Finance Agency Rental Housing Programs: This state agency administers several rental and home buying assistance programs. The Apartment Rental Information program lists apartments that are available at below market rates depending on your income in various counties throughout the state.

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1. California Housing Finance Agency Home Ownership Programs: The California Housing Finance Agency runs several rental and home buying assistance programs including the California Housing Loan Insurance Fund. The goal of this program is to expand home ownership opportunities for low and moderate income first time home buyers by insuring loans. Features of this program include:
   • Encouraging lenders to issue low down payment loans and loans to borrowers with no credit history by insuring the loans.
   • 3% down payment loans (almost 1/2 of loans insured were 97% loans)
   • Insuring loans to borrowers with a lack of credit history

   For more information, contact:
   California Housing Finance Agency
   Single Family Programs
   1121 L Street, 7th floor
   Sacramento, CA 95814
   (916) 324-8088
   

2. Bank of America's Teacher Flex Program: The goal of this program is to provide low down payment home loans for teachers and school administrators. The program is summarized below.

   Qualifications:

   • Must be a teacher or school administrator - principal, vice-principal, librarian or health car professional (such as a speech therapist, counselor or nurse) in a public or private elementary or secondary school (K-12)

   Program Summary:

   • Loans up to $350,000 in California
   • No established credit history required
   • minimal savings needed
   • 3% down with only $500 from the borrower's own finds
   • Closing costs can be a gift or other source
   • Only one month cash reserve required
   • No time-on-the-job requirement (great for new teachers!)

   
   For more information call 1-800-391-7538

3. Bank of America's Teacher Zero Down Loan: The goal of this program is to provide zero down payment home loans for teachers. The program is summarized below.

   Program Summary:

   • No down payment
   • 100% financing for teachers with good credit
   • All closing costs can come form a gift or other sources
   • Only two months' cash reserves needed

   For more information call 1-800-391-7538

4. California State Teachers' Retirement System (CalSTRS) Home Loan Program: The goal of this program run by the California State Teachers' Retirement System is to sponsor home mortgage programs to provide its members with affordable and flexible mortgage credit. Program features are summarized below:

   Program Summary:

   • Competitive loan rates on a variety of mortgage loan programs
   • 30 to 15 year loans
   • No Points
   • No Fees
   • Free 60 day interest lock with two "float down" options if interest rates fall
   • Purchase or refinance plans
   • Income derived from mortgage goes directly into the Teachers' Retirement Fund
   • Highly experienced Correspondent Lenders with program participants

   For more Information, contact:
   1-800-228-5453 (Mon. through Fri.; 8:00 AM to 5 PM Pacific)
   
   California State Teachers' Retirement System
   Public Service Office
   P. O. Box 15275
   Sacramento, CA 95851-0275

5. NEW!!! The Housing Trust Fund of Santa Clara County First Time Homebuying Programs

   The Housing Trust Fund of Santa Clara County (HTFSCC) recently established two new programs for “First-Time” homebuyers. Please note that these programs are available to people who have not owned a home in Santa Clara County within the past year.

   1. The $6500 Closing Cost Program
      This HTFSCC $6500 loan can be used for upfront down payment and/or closing cost assistance. There is no minimum down payment required by the HTFSCC, however, the primary lender may require a down payment.
   2. BRAND NEW! The Housing Trust Fund Superflex Loan
      The HTFSCC Superflex Loan is a 6% deferred interest second loan. Half of the loan will be used to lower the Mortgage Insurance and the remaining half can be:
      1) Used to permanently buy down the homebuyer’s interest rate
      2) Applied to closing costs
      3) Applied as a down payment
      4) Any combination of the above
      
      

   For more information, check out the website http://www.mccprogram.com/

6. Other websites of interest:
   • Homes for Teachers
   • The Santa Clara County Mortgage Credit Certificate Program
   • Teacher's Home Loan Resource

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