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If you’re trying to buy your first home in Santa Clara County, the down payment can feel like the biggest obstacle of all.
And honestly, that’s understandable.
When homes in Silicon Valley routinely sell for seven figures, even buyers with strong incomes can struggle to save enough cash for a traditional down payment while also keeping money available for closing costs, reserves, moving expenses, and everything else that comes with buying a home.
What many buyers don’t realize is that down payment assistance programs do exist.
The catch? The programs, funding and eligibility requirements change frequently. Some programs have limited funding, some operate in application rounds, and others may be fully subscribed by the time you’re ready to buy.
Here’s what Santa Clara County buyers should know right now.
Empower Homebuyers SCC
Empower Homebuyers SCC is a Santa Clara County down payment assistance program administered by Housing Trust Silicon Valley and funded through the county’s Measure A Affordable Housing Bond.
The program was designed to help qualifying first-time homebuyers purchase a primary residence in Santa Clara County.
Under its most recent published guidelines, Empower could provide a deferred-payment loan of up to 30% of the purchase price, subject to program limits and qualification requirements. Buyers were also required to contribute at least 3% toward the purchase.
But here’s the important 2026 update:
Empower Homebuyers SCC is currently fully subscribed.
Housing Trust Silicon Valley is directing interested buyers to its Homeownership Assistance Interest List and other assistance programs.
That doesn’t mean you should forget about Empower entirely. Programs can change as funding becomes available, so buyers interested in assistance should monitor Housing Trust directly rather than relying on an older article or social-media post.
Housing Trust Silicon Valley homebuyer assistance
What About CalHFA?
The California Housing Finance Agency—CalHFA—offers several statewide mortgage and assistance programs that can potentially help qualifying California buyers.
Unlike Empower, these aren’t limited to Santa Clara County.
One of the main options is the MyHome Assistance Program.
For qualifying borrowers, MyHome currently offers a deferred-payment junior loan of up to 3.5% of the purchase price or appraised value with an eligible FHA loan, or up to 3% with an eligible conventional loan. The assistance can be used toward the down payment and/or closing costs.
CalHFA also offers financing combinations that include assistance with closing costs, including the Zero Interest Program (ZIP) and MyAccess. The exact combination available depends on the first mortgage and current CalHFA program guidelines.
That’s one reason working with a lender who actually understands CalHFA financing matters. Not every loan scenario works with every assistance program.
What Happened to Dream For All?
You’ve probably heard about California Dream For All because it generated enormous interest among first-time buyers.
The program provides shared-appreciation down payment assistance for qualifying first-generation homebuyers.
For the 2026 round, eligible buyers could receive up to 20% of the home’s purchase price or appraised value, capped at $150,000. Recipients weren’t chosen on a first-come, first-served basis; CalHFA used a randomized selection process.
The 2026 application window ran from February 24 through March 16 and is now closed to new applicants. CalHFA subsequently released voucher results for the round.
If you’re interested in Dream For All, your best move now is to follow CalHFA directly for information about any future funding round.
California Dream For All updates
These Programs Aren’t Free Money
This is probably the most important thing buyers need to understand.
Down payment assistance doesn’t necessarily mean a grant.
MyHome, for example, is a subordinate loan with repayment terms. Dream For All uses a shared-appreciation structure, meaning the homeowner eventually repays the original assistance plus a percentage of the home’s appreciation under the program rules.
That doesn’t make these programs bad.
For the right buyer, assistance can make homeownership possible years earlier than it otherwise would have been.
But you need to understand exactly what you’re borrowing, when repayment is triggered, and what the long-term cost could be.
Don’t Assume You Make Too Much
This is something I wish more Silicon Valley buyers understood.
Don’t look at your salary and automatically assume you won’t qualify for assistance.
Income limits vary by program, county and household circumstances, and CalHFA updated its income limits again in 2026.
The better approach is simple:
Check.
Let the actual program guidelines determine whether you qualify rather than ruling yourself out before you’ve even asked.
Start Before You Find the House
If down payment assistance could be part of your buying strategy, don’t wait until you find the perfect house to investigate it.
Talk with a lender familiar with these programs early.
Find out which programs are currently funded, what you qualify for, whether homebuyer education is required, how the assistance affects your mortgage, and how quickly the loan can close.
That preparation matters in San Jose, where desirable homes can still move quickly.
Bottom Line
Buying your first home in Santa Clara County is expensive. There’s no getting around that.
But the amount sitting in your savings account isn’t necessarily the only resource available to you.
CalHFA continues to offer assistance options for qualifying buyers, Dream For All may have future funding rounds, and local programs can change as new funding becomes available. Empower Homebuyers SCC itself is currently fully subscribed, which is exactly why checking the current program status matters.
If you’re thinking about buying in San Jose, Willow Glen, Cambrian, Almaden Valley, Japantown, or elsewhere in Santa Clara County, I’d be happy to help you understand the home-buying side of the equation and connect you with lenders who can explain which financing and assistance options may be available for your situation.
The goal isn’t to force the numbers to work.
It’s to find out what the numbers actually are—and then decide whether buying makes sense for you.
Program availability, income limits, loan amounts and eligibility requirements can change. Information above was checked against Housing Trust Silicon Valley and CalHFA resources available in August 2026. Buyers should verify current program terms directly with the program administrator and an approved lender before making financial decisions.
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About the Author – Michelle Elliott
With over 20 years of experience navigating the fast-paced Silicon Valley market, I provide a strategic, results-driven approach to residential real estate. My career is built on a foundation of deep local expertise and a relentless commitment to my clients’ success, resulting in over $235 million in lifetime sales volume and a consistent ranking in the top 3% of agents in Santa Clara County and top 2% at Coldwell Banker. My expertise has been featured on KTVU Fox 2, Real Producers and the Willow Glen Resident. She is also the co-host of the San Jose Podcast “Say What You Want About Real Estate”
A Hyper-Local Expert with Global Reach
I specialize in San Jose, in the neighborhoods of Willow Glen (95125 & 95124) Cambrian Park and Almaden, Downtown San Jose/Japantown (95112) markets. As a certified Luxury Property Specialist with Coldwell Banker Realty, I combine high-end marketing strategies with granular neighborhood knowledge to help my clients achieve premium results.
The “Tiger” at the Negotiating Table
My clients have characterized me as a “tiger” at the negotiating table who remains “sweet and patient” with my clients throughout the process. I pride myself on being a fierce advocate for my buyers and sellers, ensuring the best possible terms in every transaction, and I strive to be the best Realtor in 95125! This balance, drive, and tenacity have earned me consistent 5-star ratings across Google, Zillow, Realtor.com, and Yelp.
Michelle Elliott
Michelle@michelleelliottrealtor.com
1712 Meridian Ave, Ste C, San Jose, CA
DRE 01777533
