Housing Programs SFTH has a unique integration of programs designed specifically for the purpose of enabling clients to become self-sufficient. Currently, the Four Step Housing Program integrates transitional and permanent housing facilities to meet the multiple needs of the community and has added the First Time Homebuyer program to the list. Emergency Shelter for up to 60 days through S.H.I.P. or Interfaith Shelter. Transitional Housing is an intermediate phase toward long term housing and clients may stay up to two years to insure time to stabilize their housing situation. Transitional includes a series of life skills classes to ensure the tools to succeed. Permanent Housing is when clients have achieved self-sufficiency and are able to move into affordable or market rate housing. At the completion of the program they have identified and resolved the problems that contributed to their homelessness and have advanced from emergency and transitional shelter into permanent housing. If you would like to enter our Transitional Housing Program please read the SFTH GUIDELINES

First Time Home Buyer Program

The first basic qualification is that you have a family income no less than $45,000.00 and according to the 2007 HUD guidelines not more than $55,450.00 for a family of two, $62,350.00 for a family of three, $69,300.00 for a family of four, or $74,850.00 for a family of five. The other considerations are that you have a savings account in excess of  $3,000.00, will attend a class on First Time Home buying, and be able to qualify for an approximate $160,000.00 first mortgage loan.

The basic program is designed to allow someone of moderate income to become a homeowner. The offer is to sell an approximate $370,000.00 condo for a $160,000.00 mortgage and help with accumulation of the down payment.

In addition these units are having over $40,000.00 in upgrade done prior to lease/purchase candidates being identified. This is a cost not being transferred to home buyer.

The offer is to allow a qualified individual or family to execute a lease/purchase agreement designed to lead to ownership. The properties are two bedroom, 900 sq ft condominiums in the City of Westminster.

The lease/option rules highlights are as follows:

1. The property must be leased for a period of; minimum 1 year to a maximum of 3 years before the purchase option can be executed.
2. During lease period the lease will be $1,066.00 per month including all fees with the exception of utilities
3. Approximately $240.00 per month, from lease payment, will accrue into a restricted account to accumulate some or all of the required 3%+ down payment, approximately $5,800.00. The City will assist in escrow closing cost.
4. At the time of purchase option execution buyer will have to secure a first mortgage from a recognized major lender a 30 year fixed rate loan in the amount of $160,212.00, which proceeds will be paid to the City of Westminster, and have a silent second in the amount of  approximately $209,000.00 as a lien on property.

This silent second is non interest bearing and is payable only on resale of the property if sold during the 45 year period following purchase.

1. A further condition of the sale of this property is a equity sharing provision. If the

           property is sold then the increase in value, if any, will be shared 50% by

           homeowner, 25% by the City of Westminster, and 25% by the landlord.