Shared Equity Rules In Santa Clara
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What is AMI? Santa Clara County 2024 Area Median Income: $184,300 Number of People in Household18 Low Income $102,300 $192,900 Median Income $129,000 $243,300 Moderate Income $154,800 $291,9004 more rows
The Policy requires new developments of for-sale housing of 10 or more units to provide at least 10 percent of units at below market rates for moderate income households.
The Policy requires new developments of for-sale housing of 10 or more units to provide at least 10 percent of units at below market rates for moderate income households.
Will I Qualify for Affordable Housing? Household SizeExtremely-Low Income, Not to Exceed:Very-Low Income, Not to Exceed: 1 person $33,150 $55,250 2 person $37,900 $63,100 3 person $42,650 $71,050 4 person $47,350 $78,9004 more rows
What is AMI? Santa Clara County 2024 Area Median Income: $184,300 Number of People in Household15 Extremely Low $38,750 $59,750 Very Low Income $64,550 $99,550 Low Income $102,300 $157,8004 more rows
Depending on your income level the minimum credit score requirement is between 660 and 680.
Who can apply for the California Dream Act? Students who live in California and meet the eligibility requirements for a non-resident exemption, as well as students who have a U Visa or TPS status, can use the California Dream Act application (CADAA).
Inclusionary Housing Ordinances (IHO) require developers to set aside a portion of units in new market rate housing developments at rents affordable to low- and moderate-income residents. Units are deed restricted, maintaining affordability, typically for 55 to 99 years.
Due to extremely high demand, the California Housing Finance Agency (CalHFA) used a random selection process to ensure all 18,000 applicants had an equal chance at receiving funding from the $255 million available from the second round of Dream For All.
Revised Program Eligibility and Key Program Highlights Borrowers must have a minimum credit score of 680.
