San Mateo County Association of REALTORS® - page 8

In 2019, the SAMCAR Foundation awarded over $62,000 to numerous housing-related charities in San Mateo County and grants to first time buyers working with the HEART program. The primary funding sources for SAMCAR Foundation grants are voluntary contributions made by SAMCAR members with dues payments and fundraising from annual events.

As part of SAMCAR's ongoing commitment to supporting our communities, SAMCAR REALTORS® have recently made contributions to the following organizations in Pacifica: Pacifica Resource Center, Pacificans Care for the Rockaway Ricky Memorial Fund, Terra Nova High School Education Foundation, Terra Nova Industrial Tech. SAMCAR values our communities and is proud to support the efforts of our members in cities and neighborhoods throughout San Mateo County.

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.

In 2018, the SAMCAR Foundation awarded $49,574 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 their dues payments and fundraising from annual events. In addition to funding from member contributions and events, the SAMCAR Foundation was awarded a $50,000 grant from the California Association of REALTORS® (C.A.R.) Housing Affordability Fund (HAF) in 2018.