Housing Trust Silicon Valley

THE MISSION OF HOUSING TRUST SILICON VALLEY IS TO MAKE BAY AREA A MORE AFFORDABLE PLACE TO LIVE.

THE COMPETITIVE REAL ESTATE MARKET IN THE GREATER BAY AREA CREATES A CHALLENGING ENVIRONMENT FOR AFFORDABLE HOUSING DEVELOPMENT. HOUSING TRUST - WHICH MAKES MORE LOANS THAN ANY OTHER NONPROFIT HOUSING LENDER IN OUR REGION - IS HERE TO HELP. SINCE 2000, HOUSING TRUST HAS MADE LOANS TO 175 AFFORDABLE HOUSING PROJECTS, TOTALING OVER $387 MILLION IN FUNDING AND RESULTING IN 14,671 AFFORDABLE RENTAL HOMES. OUR BORROWERS ARE TYPICALLY COMMUNITY-BASED, NON-PROFIT AND MISSION ALIGNED FOR-PROFIT AFFORDABLE HOUSING DEVELOPERS WHOSE COLLECTIVE MISSION IS TO INCREASE AND PRESERVE THE AFFORDABLE HOUSING STOCK IN THE COMMUNITIES THEY SERVE, AND BY SO DOING, REVITALIZE SUCH COMMUNITIES. WE LEND IN THE GREATER BAY AREA INCLUDING ALAMEDA, CONTRA COSTA, MARIN, MONTEREY, NAPA, SAN BENITO, SAN FRANCISCO, SAN JOAQUIN, SAN MATEO, SANTA CLARA, SANTA CRUZ, SOLANO AND SONOMA COUNTIES. MULTI-FAMILY LENDING VOLUME HAS GROWN SIGNIFICANTLY OVER THE PAST SEVERAL YEARS.

SIX-FIGURE DOWN PAYMENTS CAN PUT THE DREAM OF HOMEOWNERSHIP OUT OF REACH. HOUSING TRUST OFFERS FIRST TIME HOMEBUYERS THE EDUCATION AND COUNSELING, DEFERRED INTEREST LOANS AND BELOW MARKET PURCHASE PROGRAMS THAT CAN BRING THAT DREAM CLOSER TO REALITY. HOUSING TRUST'S HOMEBUYER TEAM OFFERS HOMEBUYER AND FINANCIAL LITERACY EDUCATION IN GROUP SETTINGS AS WELL AS ONE-ON-ONE SESSIONS THAT COVER TOPICS INCLUDING SAVING FOR A DOWN PAYMENT AND RESERVES, HOW TO SELECT AND WORK WITH REALTORS AND MORTGAGE LOAN OFFICERS AND WHAT TO EXPECT UPON CLOSING ON A NEW HOME. HOUSING TRUST'S FINANCIAL PRODUCTS REDUCE THE BURDEN OF 20% DOWN PAYMENT REQUIREMENTS AND BRIDGE THE GAP BETWEEN WHAT LOW- TO MIDDLE-INCOME BUYERS CAN AFFORD TO BORROW AND THE EQUITY REQUIRED TO DO SO. SINCE 2000 WE HAVE OFFERED HOMEBUYER DOWN PAYMENT ASSISTANCE AS DEFERRED, AMORTIZING AND EQUITY SHARE LOANS, DEPENDING ON INCOME LEVEL AND NEEDS OF THE BORROWER. OUR LOANS UNDER THESE PROGRAMS RANGE FROM $6,500 TO $187,000. WE HAVE MADE 2,570 DOWN PAYMENT ASSISTANCE LOANS TOTALING OVER $50 MILLION SINCE OUR FOUNDING. IN FY21, HOUSING TRUST PROVIDED EDUCATION AND COUNSELING TO 3,215 HOPEFUL HOMEBUYERS, MADE TWENTY DOWN PAYMENT ASSISTANCE LOANS AND COMPLETED FOUR BELOW MARKET PURCHASE PROGRAM HOME SALES.

WE HELP NEIGHBORS EXPERIENCING HOMELESSNESS MOVE OFF THE STREETS AND INTO HOMES. THIS IS A VITAL PIECE OF OUR COMPREHENSIVE MISSION, HELPING OUR COMMUNITIES' LOWEST INCOME HOUSEHOLDS ACHIEVE STABILITY. HOUSING TRUST HAS GRANT PROGRAMS THAT STRENGTHEN AND EXPAND CAPACITY OF SOCIAL SAFETY NET PROVIDERS AND PROVIDE THE FINAL KEY TO INDIVIDUALS AND FAMILIES TO PREVENT OR EXIT HOMELESSNESS. HOUSING TRUST PARTNERS WITH SOCIAL SERVICE AGENCIES TO MAKE SECURITY DEPOSITS ASSISTANCE TO HOUSEHOLDS EXPERIENCING OR AT RISK OF HOMELESSNESS, ALLOWING FAMILIES TO MOVE INTO PERMANENT HOUSING. SINCE 2000, HOUSING TRUST HAS ALSO HELPED 7,556 PEOPLE WITH OUR HOMELESSNESS ASSISTANCE GRANTS, TOTALING $5.5 MILLION. THESE PROGRAMS REACH THOSE AT THE VERY LOW END OF THE INCOME SPECTRUM, WITH OVER 80% OF FUNDS REACHING EXTREMELY LOW-INCOME HOUSEHOLDS (THOSE EARNING 30% OR LESS OF THE AREA MEDIAN INCOME). THE LACK OF AFFORDABLE HOUSING AND HIGH COST OF RENT CAN FORCE EVEN EMPLOYED INDIVIDUALS INTO HOMELESSNESS. OUR DEPOSIT ASSISTANCE CLIENTS ARE OFTEN EMPLOYED AS RETAIL CLERKS, RESTAURANT WORKERS, HOSPITAL STAFF AND MANY OTHER PROFESSIONS OUR COMMUNITIES DEPEND UPON. IN FY21, HOUSING TRUST HELPED 129 PEOPLE AVOID OR EXIT HOMELESSNESS, GRANTING $144,577.

OTHER PROGRAMS.