The California Association of REALTORS®’ (CAR) has announced that its Housing Affordability Fund (HAF) will provide another $500,000 in closing cost assistance for eligible first-time California homebuyers from an underserved community.
The additional amount brings the total to $2 million in grants for the Pathway to Homeownership grant program in support of the Association’s Fair Housing and Diversity efforts. Since 2022, CAR’s Housing Affordability Fund’s Pathway to Homeownership Closing Cost Assistance grant program has provided closing cost grants totaling $1.5 million for 156 first-time home buyer families from an underserved community throughout California.
CAR’s HAF Pathway to Homeownership Closing Cost Assistance Grant Program is targeted at first-time homebuyers who are members of an underserved community, assisting them by providing up to $10,000 in closing cost assistance. Each grant is provided to low-to-moderate income, first-time homebuyers who use the services of a California REALTOR®.
The nonprofit housing organization Neighborhood Partnership Housing Services (NPHS), along with U.S. Dept. of Housing and Urban Development (HUD) approved housing counselors, is partnering with CAR’s Housing Affordability Fund to administer grants throughout all 58 California counties under CAR’s Closing Cost Assistance Grant Program.
“Countless studies have found that homeownership is critical to building generational wealth and economic security for working families,” said CAR President Jennifer Branchini. “California REALTORS® are pleased to expand ownership housing opportunities for more Californians so they have an opportunity to attain the economic and societal benefits that homeownership provides.”
For more information, visit https://www.car.org/.
