California Association of Realtors’ Housing Affordability Fund’s Homeowners Association Grant Program will provide qualified first-time California homebuyers up to six months of HOA dues, not to exceed $2,500, starting December 2016.
To qualify as an Eligible Grant Recipient under the Program, homebuyer:
- Must use a California REALTOR® in the transaction.
- Must be a First-Time Homebuyer.
- Must purchase a Single Family Residence in California.
- Must have used financing to purchase the Single Family Residence and must NOT have paid all-cash for the purchase.
- Must have closed escrow for the purchase.
- Must intend to occupy the Single Family Residence which purchased as the primary residence for at least for two years after close of escrow.
- The purchase price must NOT exceed 150% of the mortgage limit set by the FHA for one-family units in the county in which the Single Family Residence is located.
- Housing Affordability Fund must receive all application forms NO later than thirty (30) days after closing escrow. (Due to limited availability, funds will be distributed on a first come/first served basis)