Success Story: Creating First-Time Homebuyers

The Ruelas-Sandoval Family

MaríaElena and Jesús wanted nothing more than to own; however as a teacher and a machinist they did not believe it was possible to purchase a home in Santa Clara County – one of the most expensive housing markets in the nation. According to the National Association of Homebuilders' Housing Index, Silicon Valley ranks second behind New York as the least affordable place in the country to live. With help from the Housing Trust of Santa Clara County and additional assistance from the Housing Trust's partner agencies the Ruelas-Sandoval family bought their first home in San Jose.

The Challenge:

According to MaríaElena and Jesús, finding a home was easy. The hardest part was overcoming the idea that they could afford to be homeowners in Silicon Valley: “We did not anticipate having enough savings to come up with a down payment or the closing costs because we were surviving on a month-to-month basis.” Moreover, once they found a home, they wanted to ensure they could work with people that would responsibly qualify them for a loan they could afford, as MaríaElena expressed, "It was important for us to trust the person telling us to 'sign on the dotted line.'"

The Solution:

The Housing Trust of Santa Clara County offers multiple loans to meet the needs and low and moderate income, first-time homebuyers. MaríaElena and Jesús received a $6,500 loan to assist them in paying their closing costs. Additionally, they layered this loan with the City of San Jose's teacher homebuyer loan and another low interest, first-time homebuyer loan provided to them by one of our partner agencies, Neighborhood Housing Services Silicon Valley. MaríaElena and Jesús have been proud homeowners since August 2004, and for that she says, "I will be grateful to the Housing Trust and for the rest of my life."

To learn more about our first-time homebuyer loans click here.