Bay East Foundation

Foundation Goals

• Support Bay East members in need (Members Helping Members Program™).
• Offer community scholarships and grants to Alameda & Contra Costa County students who pursue higher education degrees.
• Support community-related charitable organizations and local schools.

The Bay East Foundation relies upon the generous support from the community and Bay East members. Without those voluntary contributions, the Foundation would cease to exist. We would like you to consider the Bay East Foundation in your annual giving plan. The Foundation is a 501(c)3 Corporation and charitable contributions are tax-deductible to the extent allowable by law.

The Foundation provides assistance through the following programs:

• Scholarships
  • Cheers to the Future Scholarship Fundraiser – Upcoming on April 18, 2020
• Charitable Contributions
• Members Helping Members

1st Time Home Buyer Low Income Closing Cost Program

Mission Statement – Assist first-time home buyers in offsetting the closing costs associated with purchasing a home.

Program Purpose – The First-Time Home Buyer Closing Cost Grant Program assists low-income home buyers who have not owned a home within the last three years. The value of the Grant is $2,000 and does not have to be repaid. This Grant is issued by the Bay East Association of REALTORS® Foundation. The Grant will be subject to the Truth in Lending Act (TILA) requirements.

Participant Eligibility

• Applicant must be a 1st-time home buyer or have not owned a home within the previous three years.
• Income eligibility restrictions do apply. Grant recipient total household income cannot exceed 80% of the Area Median Income (adjusted for family size) as defined annually by the U.S. Department of Housing and Urban Development.
• Grant Recipient may receive the Award only once.
• A maximum of two (2) different homebuyers represented by the same Real Estate Agent can apply for the Grant in the same year.

Property Eligibility

• The property associated with the application must be in either Alameda or Contra Costa counties.
• The property must be a residential property. Manufactured and Mobile homes are eligible.
• The maximum purchase price cannot exceed the U.S. Department of Housing and Urban Development FHA Mortgage Lending Limit for the San Francisco / Oakland / Hayward MSA. (For 2018, the FHA Mortgage Lending Limit for Alameda County is $679,650 for a single-family home.)
• The property must be owner-occupied and be the recipient’s primary residence.
• If the property is a multi-unit, one of the units must be the recipient’s primary residence.

Income Eligibility
Income Eligibility Chart

Application Form

Please contact David if you have any questions about the process.