"I'm very excited to be talking about expanding our portfolio and what we can offer for homeownership,"
"No matter where someone is in their housing journey, I want them to feel like they can do that here."
"Although the numbers start to pencil out on paper at around about 150% AMI, this does not reflect the real hurdles that home buyers face, such as saving for a 20% down payment, competing in bidding wars and qualifying for financing in a very vo"
Mountain View plans to expand homeownership opportunities for moderate-income residents by targeting assistance at up to 200% of area median income. In Santa Clara County, 200% AMI equals about $273,000 for an individual, $312,300 for a couple, and $390,400 for a family of four. The city council backed staff recommendations and emphasized encouraging condominium developments to increase ownership options. Current local prices—roughly $972,000 for a two-bedroom condo and $1.3 million for a two-bedroom townhouse—make ownership difficult even above median incomes. Key barriers include down payment savings, bidding wars, and qualifying for financing.
Read at San Jose Spotlight
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