Home Buying Benefit

Coastal Housing Partnership benefits can help you overcome some of the common obstacles to home ownership – whether you are a first-time home buyer or experienced home buyer.

We provide you with a network of service partners, who are on your side, teaming with you to help achieve the dream of home ownership. There are no fees for you to take advantage of these services. You have access to help that can transform a daunting experience into one that is easy to understand and navigate with confidence.

Coastal Housing Partnership has negotiated with a number of real estate professionals, including real estate agents, lenders, home inspection firms and residential developers to reduce the cost of their services – and help you save on closing costs!

Using Coastal Housing Partnership benefits, real estate agents typically credit 20% of their commission* back to your closing costs, while lenders waive processing fees and credit report fees, and some credit back appraisal costs. Inspection companies offer savings off their fees. Build your team from the list of network service partners.

Here is an example of the savings for a $600,000 home purchase:

Items Standard Cost CHP Concession Savings
Savings for Buyer      
Loan Processing Fee & Credit Report Fee $500 100% $500
Home Inspection Fee $500 10% $50
Credit to Buyer      
Buyer’s Real Estate Broker
Commission (2.5%) (Paid by Seller)
$15,000 20% $3,000
Total Buyer Savings/Credit -- -- $3,550

*Commissions earned and fees charged vary depending on transaction. Actual settlement costs, including Coastal Housing Partnership savings, will vary for each transaction.

Other customary buyer’s closing costs include loan origination fee, underwriting fee, other lender fees, document fee, funding fee, flood certification, hazard insurance, escrow fee, title insurance and recording fee.

These figures are for illustration purposes only. Actual settlement costs, including Coastal Housing Partnership savings or benefits, will vary for each transaction. Network Service Partners may be added or removed or may change their contributions at any time.

*Note: The real estate agent commission credit is available to the extent allowed by your lender and is capped at $7500. Please make sure your lender and escrow agent are aware of the commission credit in order to credit it to you properly.

Be sure to verify that your real estate agent, lender and home inspection firm are part of the Coastal Housing network and provide them with your proof of program eligibility – Letter of Authorization.

Letter of Authorization

Eligibility: This benefit is available for owner-occupied residences in Santa Barbara County, Ventura County and San Luis Obispo County. In order to participate in the Home Buying Benefit, you will need a Letter of Authorization from the Coastal Housing Partnership. Please inform the Network Service Partners you select that you are part of the Coastal Housing Partnership.

Click here for a listing of Network Service Partners who offer you savings.