New Revolving Loan Fund Partner

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Pacific Western Bank has generously provided HTF with a $1 million guidance line of credit for our Revolving Loan Fund. This augments our loan pool capital to $6.5 million and increases our ability to fund more affordable housing projects and a greater portion of each project’s funding needs. Pacific Western Bank joins Montecito Bank & Trust, Northern Trust NA, Rabobank, Union Bank and the Erich & Hannah Sachs Foundation in ...

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HTF Funded Affordable Housing Moves Forward

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We are pleased to see the fruition of affordable housing developments that have received funding from the HTF Revolving Loan Fund. Construction of the 12-unit Canon Perdido Condominium self-help homeownership project sponsored by Habitat for Humanity of Southern Santa Barbara County was completed in 2014, and an opening ceremony was held to honor the proud new owner-builders of the homes. HTF provided a $750,000 construction loan for the project. In April the 43-unit Casa de ...

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South Coast Workforce Homebuyer Program Planning Underway

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Our goal is to raise $2.5 million in investment capital to provide 10-year interest only down payment loans up to $100,000 to help moderate to middle income workforce homebuyers in South County purchase an entry-level home. In 2014 we met with local lenders to solicit their input on the program design and discuss investment partnerships. We created a program framework that lays out the financial structure of the program, general underwriting criteria and investment options for ...

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HTF Certified by HUD as a Non-Profit Secondary Loan Provider

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HTF has received its certification as a Nonprofit Secondary Lender from the HUD Santa Ana Homeownership Center. This certification enables us to access FHA programs and Fannie Mae and Freddie Mac secondary markets and expands the number of private lenders that can work with the Housing Trust Fund to implement our Workforce Homebuyer Programs.

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North County Workforce Homebuyer Program A Success In 2014

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In FY13-14 HTF funded another 18 down payment loans for low-income homebuyers in the North County communities of Santa Maria, Lompoc and Guadalupe. We have now fully deployed $846,674 in State Local Housing Trust Fund grant monies to fund a total of 28 loans to first-time homebuyers.

Our North County program offered 30-year deferred payment loans to assist low-income families in purchasing an entry-level home. 75% of the loans were made to homebuyers that purchased homes ...

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HTF provides funds for first time home buyers in North County Santa Barbara

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Since launching its North County Workforce Homebuyer Program in May 2012, HTF has funded 16 down payment loans for first-time working families in the North County communities of Santa Maria, Lompoc and Guadalupe.  The North County homebuyer program provides 30-year deferred payment loans up to $42,000 to assist low-income families in purchasing an entry-level home in their community.  To date, the average loan has been $30,000 with the average home acquisition price $184,000.  70% ...

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HTF provides home buyer down payment loans in Carpinteria

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The Housing Trust Fund is managing a pilot Workforce Homebuyer Down Payment Loan Program for the City of Carpinteria. The program helps bridge the homeownership affordability gap by providing 30-year deferred payment loans up to 16.5% of the home purchase price, or a maximum loan of $75,000, to assist eligible households earning up to 200% of Area Median Income, or $146,600 for a family of four, in purchasing a home within the City of ...

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HTF receives $600,000 grant award from the U.S. Treasury CDFI Fund

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In September 2013, HTF received a $600,000 capital and operating grant from the U.S. Treasury CDFI Fund.  The Community Development Financial Institutions Fund (CDFI), which provides loans and grants to increase economic opportunity and promote community development investments for underserved populations and in distressed communities in the United States, awarded $146,685,852 nationally to 148 agencies.  HTF was one of only 38 small and emerging CDFIs to receive a grant award.  HTF will use the grant as Continue Reading →

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HTF funds green rental housing in Carpinteria

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HTF made a $430,000 loan commitment to Peoples’ Self-Help Housing towards the construction and permanent financing of the Casa de Las Flores in Carpinteria. This 100% affordable multi-family project will provide 43 units of new rental housing to replace a dilapidated camper park located on Via Real in Carpinteria. The new development will include Mediterranean-style buildings arranged around garden courts with play areas, as well as a 4,300 sq. ft. community center ...

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HTF Helps Fund Low-Income Green Homes in Los Alamos

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HTF provided a site improvement loan to Peoples’ Self-Help Housing (PSHHC) to assist them in developing a scattered site 5-unit new construction family self-help homeownership project located on five lots in the rural community of Los Alamos. Los Alamos Homes will consist of two 4-bedroom homes of 1,410 sq. ft. each and three 3-bedroom homes of 1,256 sq. ft. each. The units will have a Green Building rating of 100+ as well as energy ...

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