The C.A.R. HAF Closing Cost Assistance Grant Program helps first-time homebuyers who are members of an "Underserved Community*" 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 observe the trends, we’re taking action.  

Want to help close these homeownership gaps?  You can support C.A.R., NPHS, RNHS and NHS-LA’s  efforts to offer increased homeownership opportunities for underserved communities by donating to the program directly on HAF’s website. You can also find out how to apply for a grant and learn more about the program’s partnerships at carhaf.org.

The C.A.R. HAF Closing Cost Assistance Grant Program, is a true Grant, thus  there is no repayment required, if the requirements below have been met on application. Funds are available on a first-come, first-serve basis with a fully accepted purchase contract from a borrower using a REALTOR® who is a member of the CALIFORNIA ASSOCIATION OF REALTORS®.)

(*“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 C.A.R. HAF Closing Cost Assistance Grant Program (“Program”) is intended to provide closing cost grants of up to $10,000 each to First-Time Homebuyers who are members of an Underserved Community and are using the proposed grant to purchase a property in California with the following criteria:

Program Criteria:

• Recipient must be a First-Time Homebuyer. “First-Time Homebuyer” means an individual (and all co-buyers on the property purchase contract, if any) who has had no ownership interest in any real property in any location during the last three (3) years.
• 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 (including a manufactured home or mobile home if affixed to property, a single-family residential unit in a condominium, cooperative or planned unit development, or a single-family residential unit within a one to four (1-4) unit property) in California.
• The purchased property must not have an affordable housing deed restriction that limits Recipient’s ownership rights in the property’s equity or creates shared equity homeownership, preventing Recipient from retaining the full benefits of property appreciation or equity gains.
• Recipient’s income must be no more than 120% of the Area Median Income (“AMI”) as set forth by the Federal Housing Finance Agency (“FHFA”).
• Recipient must be represented by a REALTOR^® in the transaction.
• Recipient must certify they intend to move into the property within 60 days of close of escrow and occupy the property as their principal residence for at least three (3) years. 
• Recipient must have used financing (either a Government or Conventional GSE Loan) to purchase the property and must not have paid all-cash for the purchase. Exceptions may be allowed subject to Grantor’s prior written approval if Recipient used any alternative financing.
• Recipient must be left with no more than $20K in savings after the purchase.

Restrictions:

• REALTORS^® are not eligible to be Recipients.
• Directors, officers, and employees of C.A.R, Neighborhood Partners, and each respective subsidiaries, and affiliates, and members of their families (spouses, children, parents, and siblings) are not eligible to be Recipients.
• Grantee must give reasonable consideration to a grant application from a client of a California REALTOR^® if that client meets the Program Criteria.

(*“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.)

See covered Counties and Application access through our Partners below: 

Neighborhood Partnership Housing Services (NPHS) - (Inland Empire- Riverside & San Bernardino)

Richmond Neighborhood Housing Services Inc (RNHS) - (Bay Area - Alameda, Contra Costa, Sonoma)

Neighborhood Housing Services of Los Angeles County (NHSLAC) -  (Los Angeles)