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California Association of REALTORS® HAF Closing Cost Assistance
Grant Program

Please read before you continue

This program expects a high volume of applications based on the current affordable homeownership housing needs in the Bay Area. To manage participants, realtors and lenders expectations, there will be up to three rounds of funding.

Round 1: February 1 – February 28 (Round 1 is now CLOSED)
Round 2: March 10 – April 5 (Round 2 is now OPEN)
Round 3: April 10 (if additional funds are still available)

This program can support approximately 25 grants so it is important that the participants meet all eligibility criteria. As a friendly reminder, any incomplete applications or applications not meeting the minimum eligibility will not be processed nor will they move forward.

Please review the attached for minimal eligibility requirements

If funds are exhausted before any of the next rounds open, the program will end.

If you are successful in submitting an application/ interest form and asked to move forward- please allow our team 72 hours to respond to your completed application.

Again this is a high-volume program and we will need time to process and review your request.
If you do not hear back from us after 72 hours please contact ieshia@eastbaynhs.org.

As always RNHS is excited to be supporting you through your homeowner’s journey!


RNHS is excited to be the administrator of the HAF Closing Cost Assistance Grant Program supporting First Time Homeowners to realize their homeownership dreams.

The program helps first-time homebuyers bridge the affordability gap by providing them with up to $10,000 in closing cost assistance. Each grant is provided to low-to-moderate income (120% AMI and below) first-time homebuyers who utilize the services of a CA REALTOR®.

These homeownership gaps aren’t new and, for many groups, they’re getting wider.  Experts suggest that lack of generational wealth is (can be) to blame, often leaving members of underserved communities with less funds to cover the closing costs and down payment for a home. Rather than just observing the trends, we’re taking action.

Please find the checklist and application to move your request forward. Applications will be processed & approved on a first-come-first-served basis.

The maximum grant amount is $10,000 and the lender financing your loan will need to accept the terms & conditions of the HAF program which is a grant program with no repayment requirement.

Visit C.A.R.’s Housing Affordability Fund website for more information.

For information on Area Median Income Limits, visit Fannie Mae AMI Lookup Tool


Please complete the Interest Form to see if you qualify for the HAF Closing Cost Assistance Grant Program.
Once completed – if you meet the minimum requirements, you will be asked to complete an additional Closing Cost grant application.


Approved Lender List

  • All California (Umbrella of American Pacific)
  • Bank of the West
  • Bay Equity LLC.
  • Chase
  • CrossCountry Mortgage, LLC 
  • East West Bank
  • First Republic Bank
  • General Mortgage Capital Corporation
  • Guarantee Rate
  • Guild Mortgage
  • Mason-McDuffie Mortgage Company
  • Platinum Home Mortgage Corporation
  • Primary Residential Mortgage Inc. 
  • RPM Mortgage
  • Supreme Lending
  • US Financial Mortgage Lending 
  • Wells Fargo Bank

Note: If you do not see your lender listed above, please contact Ieshia Edgerton at ieshia@ eastbaynhs.org to assist the lender through the lender approval process.


Program Criteria

  • Recipient must be a first-time homebuyer.
  • Recipient must be a member of an underserved community, including LGBTQ+.
    • Recipient must be a member of an underserved community: (*“Underserved Community” includes: (i) people of color; (ii) persons who are homeless or otherwise experiencing housing instability; (iii) persons with disabilities (physical or mental), particularly persons living in housing with one or more qualities of an institutional setting, persons leaving institutions, or persons at-risk of institutionalization; (iv) persons living in impoverished areas or experiencing persistent poverty or inequality, including historical wealth disparities as compared to majority groups; and (v) lesbian, gay, bisexual, transgender, and queer (LGBTQ+) persons.)
  • The property being purchased by recipient must be a single-family residence.
  • The purchased property must not have an affordable housing deed restriction.
  • Recipient’s income must be no more than 120% of the Area Median Income (AMI).
  • Recipient must be represented by a CA REALTOR® in the transaction.
  • Recipient must certify they intend occupy within 60 days of escrow close for a minimum of 3 years.
  • Recipient must use either government or conventional GSE financing.
  • Recipient must be left with no more than $20,000 in savings after the purchase.

Checklist

  • Copy of your Real Estate contract.
  • Paystubs
    (30-day full pay cycle – include monthly and every two week income)
  • 3 months bank statements for all borrowers, and all bank accounts.
    (This is to confirm your post-close assets)
  • Lender Estimated Cost Statement document
  • A confirmation your lender will accept the terms and conditions of the HAF Closing Cost Assistance Grant Program.

If you need further assistance, please call Ieshia Edgerton at (510) 660-1179 ext. 1615 or ieshia@eastbaynhs.org.


Sponsored by

Richmond Neighborhood Housing Services, Inc. (510) 237-6459 info@eastbaynhs.org
Have you been experienced a financial hardship?Learn More About RNHS Rapid Response Fund
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