Pixel Tracker

Tuesday, January 22 , 2019, 7:32 pm | Fair 50º


Housing Trust Fund to Launch $840,000 Workforce Homebuyer Down Payment Program

Working, low-income households can receive 30-year deferred loans of up to $42,000

A Workforce Homebuyer Down Payment Loan Program will be launched by the Housing Trust Fund of Santa Barbara County at a public workshop from 6 to 7:30 p.m. Wednesday, May 2 in Shepard Hall at the Santa Maria Library, 421 S. McClelland St. in Santa Maria.

The pilot program is designed to assist local working, low-income households in purchasing an entry-level home in the community by providing 30-year deferred down payment loans up to $42,000 per homebuyer.

The loans will have no current interest or principal payments and are repaid, with shared appreciation, upon sale or refinancing of the home or at the end of the loan term. The program is funded from an $840,000 grant that the HTF received from the Local Housing Trust Fund Program of the State Department of Housing and Community Development. The City of Santa Maria is a community partner and has contracted with HTF to provide closing cost grants up to $3,000 for eligible workforce borrowers who purchase homes within the city.

At the May 2 public workshop, HTF representatives will provide an overview of the Workforce Homebuyer Down Payment Loan Program and cover key topics such as: homebuyer qualifications, types of eligible homes, steps for obtaining the loan, shared equity requirements, and contacts to Community Partners who will provide homebuyer education, income certification services and pre-approval of first mortgage loans for eligible first-time, low-income homebuyers.

The program targets cities in North County, with a focus on Santa Maria. The down payment loans remove a financial barrier to the dream of homeownership by lowering home acquisition and carrying costs so that qualified working households can purchase an affordable home that strengthens the family and the neighborhood.

The Housing Trust Fund of Santa Barbara County is a private nonprofit, countywide financing agency whose mission is to raise financial resources to expand workforce and affordable housing opportunities for the residents and workers of Santa Barbara County. HTF supports affordable housing opportunities that enhance the quality of life, neighborhoods and the sense of community and that preserve the long-term affordability of the housing for future generations of workers and residents.

For more information about the Housing Trust Fund and the Workforce Homebuyer Down Payment Loan Fund, please contact President/CEO Jennifer McGovern at Housing Trust Fund of Santa Barbara County, P.O. Box 60909, Santa Barbara, CA 93160-0909; 805.685.1949; .(JavaScript must be enabled to view this email address). Click here for more information.

— Jennifer McGovern is president/CEO of the Housing Trust Fund of Santa Barbara County.

Support Noozhawk Today

You are an important ally in our mission to deliver clear, objective, high-quality professional news reporting for Santa Barbara, Goleta and the rest of Santa Barbara County. Join the Hawks Club today to help keep Noozhawk soaring.

We offer four membership levels: $5 a month, $10 a month, $25 a month or $1 a week. Payments can be made using a credit card, Apple Pay or Google Pay, or click here for information on recurring credit-card payments and a mailing address for checks.

Thank you for your vital support.

Become a Noozhawk Supporter

First name
Last name
Select your monthly membership
Or choose an annual membership

Payment Information

Membership Subscription

You are enrolling in . Thank you for joining the Hawks Club.

Payment Method

Pay by Credit Card:

Mastercard, Visa, American Express, Discover
One click only, please!

Pay with Apple Pay or Google Pay:

Noozhawk partners with Stripe to provide secure invoicing and payments processing.
You may cancel your membership at any time by sending an email to .(JavaScript must be enabled to view this email address).

  • Ask
  • Vote
  • Investigate
  • Answer

Noozhawk Asks: What’s Your Question?

Welcome to Noozhawk Asks, a new feature in which you ask the questions, you help decide what Noozhawk investigates, and you work with us to find the answers.

Here’s how it works: You share your questions with us in the nearby box. In some cases, we may work with you to find the answers. In others, we may ask you to vote on your top choices to help us narrow the scope. And we’ll be regularly asking you for your feedback on a specific issue or topic.

We also expect to work together with the reader who asked the winning questions to find the answer together. Noozhawk’s objective is to come at questions from a place of curiosity and openness, and we believe a transparent collaboration is the key to achieve it.

The results of our investigation will be published here in this Noozhawk Asks section. Once or twice a month, we plan to do a review of what was asked and answered.

Thanks for asking!

Click Here to Get Started >

Reader Comments

Noozhawk is no longer accepting reader comments on our articles. Click here for the announcement. Readers are instead invited to submit letters to the editor by emailing them to [email protected]. Please provide your full name and community, as well as contact information for verification purposes only.

Daily Noozhawk

Subscribe to Noozhawk's A.M. Report, our free e-Bulletin sent out every day at 4:15 a.m. with Noozhawk's top stories, hand-picked by the editors.

Sign Up Now >