Frequently Asked Questions
Name of the program?
C.A.R.’s Housing Affordability Fund’s Homeowners Association Grant Program.
What is it?
C.A.R.’s Housing Affordability Fund’s Homeowners Association Grant Program will provide qualified firsttime California homebuyers up to six months of HOA dues, not to exceed $2,500.
How much is dedicated to the grand?
C.A.R.’s Housing Affordability Fund’s has allocated one million dollars towards this program.
When does it start?
The Homeowners Association Grant Program started in December 2016 and funds will be distributed on a first come/first served basis.
When will it end?
The program will end once the funds have been exhausted.
What are the qualifications?
To qualify as an Eligible Grant Recipient under the Program:
Homebuyers must use a California REALTOR® in the transaction
Purchase a primary single family residence in California with the intent to occupy the property as your primary residence Be a first-time homebuyer*
Buy a home with applicable HOA dues/fees
The purchase price of the Single Family Dwelling must not exceed 150% of the mortgage limit set by the FHA for one-family units in the county in which the Single Family Dwelling is located. See https://entp.hud.gov/idapp/html/hicostlook.cfm for mortgage limit.
You must have used financing to purchase the Single Family Dwelling and must not have paid all-cash for the purchase
You must apply within 30 days after the close of escrow
Who qualifies as a first time home buyer?
A first-time homebuyer is an individual (and all co-buyers on the property purchase contract, if any) who has had no ownership interest in any real property in any location during the three (3) year period ending on the date of the individual’s signature of the Buyer Certification Form.
How do I apply?
REALTORS® must complete a program application and certification form on behalf of their client. The program application and certification form along with rules and conditions for HAF’s Homeowners Association Grant Program are available in zipForm® under the HAF Library.