STATEMENT ON THE RESUMPTION
OF THE HOUSING TRUST OF SANTA CLATA COUNTY’S
FIRST-TIME HOMEBUYER ASSISTANCE PROGRAM


(December 8, 2005) The Housing Trust of Santa Clara County is committed to helping families afford homes in Silicon Valley by offering the most effective assistance available and providing standard-setting customer service. Our Board of Directors has authorized the release of $780,000 in First-time Homebuyer Assistance funds for the period of January-March, 2006, effective Monday, January 9, 2006. This allocation will allow us to assist up to 120 families during the period.

The First-time Homebuyer Assistance Program makes up to $6500 in zero-interest loans available to quali?ed families who seek to purchase their ?rst home in Santa Clara County. For more information, please contact Jonathan Smith, our Program Manager at (408) 436-3450, ext. 5#, or visit our website at www.housingtrustscc.org.


Important note

This program becomes active and applications will be accepted starting on Monday, December 19, 2005 and will be accepted on a “first come, first serve” basis. Due to application processing constraints, we will not be able to accept applications for assistance that must close escrow before January 9, 2005. Applications received by us prior to December 19, 2005 or which close escrow prior to January 9, 2006 will be returned.

Limited funds are available for this program, and will be distributed strictly on a “first-come, first-served,” funds-available basis.

Housing Trust Office Hours

Our office will be closed from December 23, 2005 through January 3, 2006. During this time applicants may use the mail slot at our front door to deliver an application package, but please note that our staff will not be able to review and approve your application until the first week of January.


Program Overview

The First-time Homebuyer Assistance Program began in August 2001, and is one of several programs administered by the Housing Trust of Santa Clara County. As with all of the Housing Trust’s programs, our first-time homebuyer assistance is funded by voluntary donations from local corporations, foundations, government, and individuals. The goal of the First-time Homebuyer Assistance Program is to make homeownership in Santa Clara County more affordable by providing eligible homebuyers an interest free loan up to a maximum of $6,500, which can be used toward closing costs and other costs (allowed by the primary lender).

Interested homebuyers should check our website at www.housingtrustscc.org, or call 408-436-3450, ext. 5#, for more details on the program. Downloadable application forms are available through our website.