Santa Clara County Housing Authority Below Market Rate Partnership Program
Santa Clara County Housing Authority Below Market Rate Partnership Program is a shared-appreciation loan for homebuyers in Statewide, California.
The program asks for
- First-time homebuyer — the program sets its own definition
- The home is occupied as a primary residence
- A completed homebuyer education course, through Required - HUD-approved
- Sourced via Homebuyer Wallet (CA260103). County partners with local Below-Market-Rate housing programs (cities, nonprofits) to subsidize home purchases for lower-income buyers. Subsidy amount varies by partner and home.
- A home in Santa Clara County
It doesn’t cover
- Households above 80% of area median income
- Homes outside Santa Clara County
These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.
Income limit
80% of Santa Clara County’s area median income
HUD sets the area median income each year. The limit changes with household size, so a family of five has a higher limit than a single homebuyer.
Where it applies
Santa Clara County’s homesSanta Clara County’s homes, and the ones this program accepts
- 50.7% single-familysingle-family
- 11% townhousetownhouse
- 6.9% 2–4 units2–4 units
- 28.6% 5+ unitscondo & apartment buildings (5+ units)
- 2.8% mobile & othermobile home & other
A tick marks a kind of home the program’s record lists. The agency confirms it for the home you choose.
$1.5M
Santa Clara County median home value
59.7%
built before 1980
U.S. Census Bureau, ACS 2024 5-year. More about buying in Santa Clara County
How to apply
How to applyThree steps, in this order
Take a homebuyer education course
Required by the program, through Required - HUD-approved.
Contact the administering agency to reserve funds
Funds are reserved with the provider and are subject to availability.
Work with a lender who handles the program
Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.
Questions about this program
What is Santa Clara County Housing Authority Below Market Rate Partnership Program?
Santa Clara County Housing Authority Below Market Rate Partnership Program is a shared-appreciation loan for homebuyers in Statewide, California. Shared-appreciation deed-of-trust subsidy. No monthly payments, 0% interest. County contributes the gap between what borrower can afford and the BMR home sale price. Repayment of County subsidy due at sale, refinance, or change of occupancy. County of Santa Clara works with Partner Agencies to subsidize a portion of the home sales price for lower-income buyers. County subsidy is secured by Deed of Trust with no monthly payments and 0% interest. Funding comes from Santa Clara County affordable housing funds.
Do you have to pay it back?
Santa Clara County Housing Authority Below Market Rate Partnership Program is a shared-appreciation loan and is repaid under the terms set by the administering agency. Repayment is triggered by sale, refinance, or change of primary residence. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.
Who qualifies?
Santa Clara County Housing Authority Below Market Rate Partnership Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required, through Required - HUD-approved. Sourced via Homebuyer Wallet (CA260103). County partners with local Below-Market-Rate housing programs (cities, nonprofits) to subsidize home purchases for lower-income buyers. Subsidy amount varies by partner and home.
What are the income limits?
Santa Clara County Housing Authority Below Market Rate Partnership Program limits household income to 80% of the area median income, which varies by county and household size. Household income at or below 80% of Area Median Income (Santa Clara County). The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.
What kind of home can it be used for?
Santa Clara County Housing Authority Below Market Rate Partnership Program can be used for Single-family, Condo, Townhouse.
Where does it apply?
Santa Clara County Housing Authority Below Market Rate Partnership Program serves homebuyers purchasing in Statewide, California.
How do you apply?
Applications for Santa Clara County Housing Authority Below Market Rate Partnership Program go through the administering agency, which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.
Also for Santa Clara County homebuyersOther programs open to Santa Clara County homebuyers
- GSFA Platinum Grant - Santa Clara County SpecificGrant
- California Dream For AllUp to $150,000
- Freddie Mac BorrowSmart Access (California)Up to $3,000
Whether two programs can be combined is up to each agency. Ask before you apply.
All 107 programs for Santa Clara CountyProgram terms are set by the administering agency and can change; confirm on the official site before you apply.