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Available Affordable Housing Units
BEGIN Program
NEW PRICING!:
1.
Laurel Creek
Townhomes. There are a total of 10 two- and three-bedroom units
available through the BEGIN program in the Laurel Creek project. The units
are being offered
on a first-come, first-served basis,
applications for these units
are now available for download.
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Down Payment Assistance: The Laurel Creek units are
market-rate units that come with substantial down payment assistance
at a low interest rate. No periodic payments are required on
the down payment assistance, which keeps the payments affordable.
Buyers must be moderate income, first-time homebuyers. Buyers
must be able to finance up to $225,900 to purchase a two-bedroom
unit, or $271,900 to purchase a three-bedroom unit.
Long-Term
Affordability Program:
1.
1775 Tonini Drive. A three-bedroom unit in the
Rancho Obispo subdivision is now being offered for sale for $309,225. This is a
two-story, attached single-family home, or twin home. The home
includes approximately 1,300 square feet, 2 1/4 bathrooms and an
attached two-car garage.
Click here for more information.
2.
564 Sandercock. A studio unit in a five-unit development is
now being offered for sale for $121,800. The studio is
approximately 400 square feet in size with a full bath and oversized
single car garage.
Click here for more information.
How
do I follow through on these leads?
In order to purchase an affordable unit, please make note of
the steps listed below:
1. Check the City's
Affordable
Housing Standards to determine if you meet the income limitations
for the unit's affordability level.
2. E-mail
the City's Housing Programs Manager (mcodron@slocity.org)
indicating your interest. If you have viewed the unit and are
interested in purchasing, you will be asked to see a mortgage lender to pre-qualify
for a loan to purchase the unit.
3. Potential buyers who
have obtained a
pre-qualification letter from a lender then need to contact the Housing
Authority of San Luis Obispo in order to have their household income verified.
Income verification costs
$350 per application.
If you have any
questions or comments, please contact Michael Codron at 781-7175, or by
e-mail at mcodron@slocity.org.
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