What programs are available to employees of Coastal Housing Partnership members?
Employees of Coastal Housing Partnership member companies are eligible for the following programs:
- Home buying education
- Closing cost savings on a home purchase
- Lender savings on the upfront fees for a mortgage refinance
- Reduction in market rent on new leases
- Access to a local rental search site
How do I obtain a letter of authorization?
Is this a first-time homebuyer’s program?
No, you do not have to be a first-time homebuyer. It is available to any employee of a member company.
Is this an income-restricted program?
No, there are no income restrictions. These benefits are available to any to any employee of a member company.
Can I use these programs to purchase outside of Santa Barbara County?
Yes, you may use Coastal Housing Partnership financial assistance programs when purchasing a home in Ventura County, Santa Barbara County or San Luis Obispo County.
I own a condo, but want to purchase single-family home? Am I eligible to use Coastal Housing programs?
Absolutely! As long as you are an employee of a company that is a member of Coastal Housing Partnership, you are eligible.
Can these programs be used if I am selling a home?
No, these programs are for employees of Coastal Housing Partnership members who are purchasing homes that they intend to occupy – it is not for employees who are selling their homes.
Do Coastal Housing Partnership programs apply to mobile homes?
Yes and no. The contribution from the lender does not always apply to the purchase of a mobile home. (Loans for mobile homes are personal property loans, not real estate loans.) However, the contribution from the home inspector and the real estate agent do apply for a mobile home.
Do I have to use all the Network Service Providers take advantage of the programs?
(I’m using a real estate agent on your list, but not a lender. Am I still eligible for the real estate agent savings?)
You may use any or all of the contributions available to you. Each contribution is independent of the other. For instance, you do not forfeit the real estate agent saving if you decide to use a lender that is not part of the program. In order to obtain the assistance, you must use a network partner that is in the program. The savings do not come from the Coastal Housing Partnership. They come directly from the Network Partners.
Does Coastal Housing Partnership profit if I use one of the providers on your Network Partner List?
No. Coastal Housing Partnership does not receive any money from your transaction. The entire contribution/saving goes directly to you.
Would you recommend a real estate agent?
No, Coastal Housing Partnership does not make any recommendations as to which network partner you should use. We are continually growing our list of network partners, so that you have as much choice as possible. It is still up to you to interview the real estate agents, loan officers and home inspection companies to determine which companies will best serve your needs. (Click on Network Partners for more information).
What if I am buying the home with someone who is not an employee of a Coastal Housing Partnership company?
Only one of the partners purchasing the home has to be an employee of a Coastal Housing Partnership member company. However, the home has to be the primary residence for that partner.