C.A.R.’s 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 are as wide as they have been since the passage of the Fair Housing Act in 1968 and for many groups, they’re getting wider. Experts suggest that members of underserved communities have less generational wealth and therefore, have less funds available to purchase homes. This significantly affects homeownership rates in many communities.
Want to help close these gaps? You can support C.A.R.’s Housing Affordability Fund’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.
C.A.R.’s HAF Closing Cost Assistance Grant Program, is a true grant. There is no repayment required if the requirements 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 C.A.R.
*“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.