Project Description

This housing project is an entirely new fourplex, gated development, in Azusa. Each home is uniquely designed at over 1400 sq ft., with 3 bedrooms 2.5 bathrooms, a two-car garage, and 150 sq ft., of private outdoor space. One home will be single story and wheelchair accessible. All homes are available to purchase by income-eligible, first-time homebuyers with households between 3 – 6 people.
The initial screening application for these homes has now been closed.

Eligibility Requirements

– Must be a first-time homebuyer
– Must have good credit (no bankruptcies or active collections)
– Must have ability to pay at least $7,300 as a downpayment plus additional closing costs
– Must be a household of 3 – 6 full-time people
– Must have a minimum borrower income of $56,000 or $43,950*
– *One unit is reserved for a very-low income household and will be filled first-come, first-served
– Must have a Gross Household Income below the following limits:

Other Important Information

This project has received financial assistance that ensures homebuyers can purchase these homes at affordable prices. This includes downpayment assistance funded by SGV Habitat. Homebuyers, at time of purchase, qualify for a monthly housing payment based on 30% of their gross monthly income. This can include; principal mortgage amount and interest, property taxes, homeowners’ insurance, and HOA fees. Along with an approximate 1% downpayment and minimum closing costs – this is an amazing opportunity to purchase a home affordably.

In exchange for the benefits of this assistance, restrictions are placed against the property. Affordability Restrictions will be recorded against the home so that if you wish to sell the house during the term of your agreement (45 years), SGV Habitat will have the first right to re-purchase the property at the original sales price. This ensures the long-term affordability of the property while also allowing the original owners to access their paid-in equity, enjoy financial stability with a fixed-rate mortgage, and experience the opportunity so create, grow, and thrive in their own space. Additionally, the property that you purchase must remain owner-occupied for the term of the mortgage. Meaning, you are not allowed to rent out your home. Additional loan terms may accompany this purchase.

Homeownership is a big responsibility and our Affordable Homeownership Program is unique. Please watch our information video or attend an upcoming Information Session. Dates are listed on our main Homeownership Page.