Homeownership Opportunities

Updated July 28, 2010

NOW ACCEPTING APPLICATIONS!

Below are the homes currently available for purchase: (for more details, please scroll down the page.) If you are interested in an opportunity to purchase one of these homes or any that may become available between now through October 2010, you MUST submit an application. These are on a first-come first-serve basis.

If you are not interested at this time to purchase but would like to be notified of future home ownership opportunities, please click here to be added to our Affordable Homeownership Program interest list. We have one list and you will be notified as each new opportunity becomes available.

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To apply:

• Application
• Housing Trust Fund Program Guidelines
• Income Limits
• Frequently Asked Questions
• First Time Home Buyer Education Classes
• Check List for Developers, Lenders & Title Company - click here.
• Sample Loan Documents associated with this program - click here.

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Now accepting applications!

Program: Neighborhood Stabilization Program

Location: Various locations thoughout the City
Number of Units: 5 affordable single family homes for up to moderate-income households
Application Period: Now accepting applications

Completely renovated homes (below is the BEFORE)

For more information click here.

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Program: Inclusionary Housing Program - Below Market Rate - Resale

Occasionally homes previously purchased through the Inclusionary Housing Program are re-sold back through this program. Below is a list of current homes for sale: Currently there are none.

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Program: Inclusionary Housing Program

Development: Portico at Montage
Developer: Shea Homes
Location: North Canyon Parkway and Collier Canyon Road, near Las Positas College
Number of BMR Units: 5 affordable condominiums will be offered in this opportunity to low-income households
Application Period: Now accepting applications

Applications are now being accepted for two bedroom condominium units.

Applicants being reviewed	0
Homes purchased to date	4
Applicants Conditionally Qualified*	1
*Conditionally Qualified Applicants are currently under review and must continue to meet program guidelines until the time that loan documents are signed. If applicant does not qualify at the time of signing the next applicant will be reviewed.

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Program: Inclusionary Housing Program Development: The Grove
Developer: Northbrook Homes
Location: Sonia Avenue at North Mines Road
Number of BMR Units: 2 affordable 4-bedroom duet-style homes are being offered in this opportunity
Application Period: Now accepting Applications

Applications are now being accepted. A drawing was held on October 23, 2009 at 10:00 a.m. to give numerical ranking to all qualified applicants. After the drawing, any applications received will be accepted and added to the list in the order received. Two 4-bedroom duet-style homes are expected to be available by the mid 2010. A minimum household size of 4 is required. One unit will be sold to a qualified low-income household and one unit will be sold to a qualified moderate-income household.

Applicants being reviewed
Homes purchased to date
Applicants Conditionally Qualified*
*Conditionally Qualified Applicants are currently under review and must continue to meet program guidelines until the time that loan documents are signed. If applicant does not qualify at the time of signing the next applicant will be reviewed.

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Program: Inclusionary Housing Program

Due to the current economic conditions the remaining three BMR units are no longer available.

Development: Arroyo Crossing
Developer: O’Brien Homes
Location: Arroyo Road at Cabernet Road
Number of BMR Units:
Application Period: CLOSED

 

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Program: Affordable Homeownership Program DD

Development: Savannah Terrace
Developer: DHE Homes
Location: South Livermore Avenue at Third Street
Number of BMR Units: 2 Condominiums
Application Period: Closed

The City of Livermore and DHE Homes will sell units affordable to Heads of Households with developmental disabilities at the Savannah Terrace development. The remaining available unit is a two story condo (with stairs) located in downtown Livermore - close to restaurants and transportation - and will have resale restrictions. The sales prices is $145,275 for a one bedroom and includes kitchen appliances (including a refrigerator), washer and dryer. Floor plans are included in the application. It is anticipated that the unit will be ready in mid-April 2010. Preferences will be given to persons who currently work and live in Livermore or have ties to the Livermore community. See Program Guidelines for further information. Buyers will have to qualify for a first mortgage equivalent to the sales price; and the City will be providing deferred loans to the buyers to cover the difference between the market-rate value and the affordable sales price of the homes. We are hoping that buyers who currently have a Section 8 Voucher will be able to apply that towards the home purchase.
For frequently asked questions click here.

Applicants being reviewed	All
Homes purchased to date	1 of 2
Applicants Conditionally Qualified*	1
*Conditionally Qualified Applicants are currently under review and must continue to meet program guidelines until the time that loan documents are signed. If applicant does not qualify at the time of signing the next applicant will be reviewed.

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Local Workforce Housing Program

The Workforce Housing Program has been temporarily suspended.

Development: Station Square
Developer: Signature Properties
Location: Station Square
Number of BMR Units: 5 condominiums
Application Period: Closed

The Local Workforce Housing Program provides down payment assistance to eligible home buyers who currently work in Livermore. The Program enables the City to offer more affordable housing opportunities to its workforce. It will also help reduce average commute vehicle miles traveled and ease the demand for greenbelt development and subsequent sprawl.

Eligible buyers are provided with down payment assistance in the form of a below market-rate interest loan that has a deferred principal and interest payment. The down payment, combined with other resources, lowers the first mortgage making it affordable to moderate-income households.