The Affordable Housing Trust Funds is a state-funded program for affordable housing. Funds are allocated by formula to participating jurisdictions (state and local governments) to expand and improve the supply of rental housing through new construction and rehabilitation of multifamily projects
Funding is supported with a real property transfer tax of ten cents for each $500 of value or fraction thereof.
Trust Funds may be used to provide financing for down payment assistance and homeowner rehabilitation of single family residences, and to provide emergency assistance in the form of rental assistance, including security deposits and other manners in which to assist eligible families in obtaining or keeping housing to families who are in danger of becoming homeless.
All funds must be used to benefit individuals and families whose incomes do not exceed 60% of the area median income, as defined by the U.S. Department of Housing and Urban Development.
Homebuyer Assistance
1. Funds must be used to purchase a primary residence, however, if you presently own a home, disposition of title must be concurrent with, or prior to, close of escrow for the new property (Local jurisdictions may restrict funding for first-time homebuyers only);
2. Property must be owner occupied (property may not be sub-leased);
3. Funding available only for dwellings which qualify as real property (i.e. mobile homes must be affixed to a foundation).
4. Borrowers must meet the income limit guidelines.
Homeowner Rehabilitation
1. Property must be owner occupied;
2. Property must meet, at a minimum, the Section 8 Housing Quality Standards.
Rental Assistance
Household income must be 60% or less of area median income to be eligible for assistance. All families receiving assistance under the Trust Fund must be income eligible at the time of application and throughout the period they receive Trust Fund assistance. Income re-certifications shall occur at least annually.
1. Eligible assistance can include;
a. Security Deposit
b. Utility payment/deposit
c. Rental assistance
Please contact the following for information and assistance with any of the above:
Affordable Housing Trust Fund Contact Information
For more information, please contact the Participating Jurisdiction in the area of where the assistance is needed at the link below.
Affordable Housing Trust Fund Contacts
Emergency Assistance (Welfare Set-Aside Program)
The Division allocates 15% of funds received for the Affordable Housing Trust Funds to City/County Social Services for families endangered of becoming homeless or are homeless, and are in need of assistance with utilities, security deposits, rental assistance or mortgage payment assistance.
Please contact your local social services office for information on qualifying guidelines and assistance at the link below.
Affordable Housing Trust Fund, Welfare Set-Aside Program Contacts