Homebuyer Programs

The City of San José homeownership programs are an important component of its overall housing strategy. The following programs are available for potential homebuyers in San José:

• Teacher Homebuyer Program (THP) - Program for full-time San José public school teachers and credentialed staff.



• SJSU Faculty & Staff Homebuyer Program (FSHP) - Program for full-time permanent San José State University (SJSU) employees.The new maximum loan amount under the SJSU FSHP Program will be reduced to $50,000 for all applicants who sign a purchase contract beginning July 1st, 2009. Program applicants with purchase contracts signed prior to July 1st, 2009, will continue to be eligible for a maximum SJSU-FSHP loan amount of $60,000.



• Welcome HOME Program - Downpayment assistance program which offers a loan up to $25,000 at 3% simple interest for first-time homebuyers.




An applicant may only apply and qualify for one of the following three loans: First-Time Homebuyer (equity-share) Program, Downtown High-Rise Program, and the New Construction Program. The aforementioned loan programs may not be combined with each other. in addition, please note that funding to any one development is limited to no more than 25% of the total program budget and the City down payment assistance is available on first-come, first-serve basis until the funds are exhausted.



• First Time Homebuyer (aka Equity-Share) Program - Downpayment assistance program with varying loan amounts in specific developments for low- and moderate-income first-time homebuyers.



• Downtown High-Rise Second Mortgage Program - Downpayment Assistance Program, with varying loan amounts, for low- and moderate income first-time homebuyers purchasing homes located in the downtown high-rises including the 88, the Axis, City Heights, and the 360 residences.



• New Construction Program - The New Construction Homebuyer Program offers downpayment assistance to homebuyers purchasing affordable units in new construction developments within San Jose’s municipal boundaries

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Loan Documents

Please review the City's Homebuyer Loan Documents for further program details.

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Resources

The following resources may also be of use to potential homebuyers in San José:

• AB 987 - Public Notice Requirements



• Affordable Housing Cost Limit (AHCL) Worksheet



• Affordable Housing Development List



• Asset Income Worksheet



• City Loan Underwriting Guidelines
- IMPORTANT UPDATE


• Homebuyer Application



• Homebuyer Quick Reference Guide



• Lender List



• Neighborhood Housing Services Silicon Valley (NHSSV) - The City's primary non-profit housing partner specializing in providing programs and services for first-time homebuyers. NHSSV administer the Home Venture Fund on behalf of the City of San José.



• No Income Affidavit



• Seller's Occupancy Status Affidavit



• WelcomeHOME Asset/Income Worksheet

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Programs : Homebuyer Programs