Posted by:
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 ...
Continue Reading →Posted by:
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 ...
Continue Reading →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 ...
Continue Reading →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.
Continue Reading →
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 ...
Continue Reading →