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On Tuesday, September 28, Boris Vatkin from HEART of San Mateo County and John Souza from Meriwest Credit Union presented about the HEART First Time Homebuyer Loan Program at the SAMCAR Marketing Meeting on Zoom. Together with Meriwest Mortgage, a subsidiary of Meriwest Credit Union, HEART has created a unique loan package that is not offered by any other lender. HEART's goal is simple: to help buyers purchase a home with 5% downpayment and no PMI (Private Mortgage Insurance). learn more at http://heartofsmc.org/

Building green Accessory Dwelling Units (ADUs)—also known as granny units—is now easier and more affordable thanks to HEART of San Mateo County's latest initiative: GLADUR (a Green and Livable Accessory Dwelling Unit Resource). Funded by a Grant from the Bay Area Air Quality Management District, HEART has developed designs and construction plans for green, all-electric, detached ADUs that can be downloaded by the public at no cost. In addition to the free designs, HEART provides a free, comprehensive handbook highlighting extensive environmentally friendly options and links to existing ADU resources.

In response to higher housing costs, HEART, the Housing Endowment and Regional Trust of San Mateo County, and Meriwest Mortgage, a wholly owned subsidiary of Meriwest Credit Union, will now allow new homebuyers in San Mateo County to purchase homes for up to $908,156. This represents a 14% increase from the previous maximum home price of $795,187. To accompany the increase in the maximum home price, the HEART loan program will offer up to $136,223 as a down payment second loan.

HEART of San Mateo County and the San Mateo County Association of REALTORS®—through a $50,000 grant from the CALIFORNIA ASSOCIATION OF REALTORS® Housing Affordability Fund—are expanding HEART's First Time Homebuyer Program to include closing costs assistance, offering up to $5,000 in closing costs assistance for first time homebuyers in San Mateo County.

In 2017, the SAMCAR Foundation awarded $37,000 to numerous housing-related charities in San Mateo County. The primary funding sources for SAMCAR Foundation grants are voluntary contributions made by SAMCAR members with dues payments and fundraising from annual events.

The SAMCAR Foundation's June 2016 grant of $10,000 to HEART of San Mateo County is helping provide assistance to first-time homebuyers in our community.

Meet Julie S., an art teacher in San Mateo who was able to buy her first home with the help of HEART (Housing Endowment and Regional Trust) and Meriwest Mortgage's first time homebuyer program.