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Santa Clara County Housing Authority Below Market Rate Partnership Program

Statewide, California

Last verified
See what you qualify forOfficial program site →
Income limit

80% AMI

Of area median income; varies by county and household size

Repayment

Shared appreciation

Settled on the terms set by the administering agency

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 buyers who will live in the home as their primary residence.

The program requires

  • 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.

The program excludes

  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

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 buyers 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.

  1. Take a homebuyer education course

    Required by the program, through Required - HUD-approved.

  2. Contact the administering agency to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. 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 buyer can take it to a lender or housing counselor.

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Santa Clara County Housing Authority Below Market Rate Partnership Program, explained

A short, free course on Santa Clara County Housing Authority Below Market Rate Partnership Program: what it is, who it is for, when it is repaid, where it applies and how to apply. Based on program data from July 2026. About ten minutes.

5 modules · About 10 minutes

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