Affordable Housing - How does it work?

NEW -> Contingent Buyer Assistance Program
pay stubs, tax returns, bank account statements, brokerage statements, etc. don't even try to game the system, since the system itself is a joke.
 
basically, if you have a computer and internet, you probably dont qualify.

Its a reduced housing plan, works with both rentals and homes. The only problem is that if you get in on a low cost housing program and get a home on the cheap, you cannot reap the profits of sale because they are price controlled to a large extent.

Also, the waiting lists for desirable communities and cities are MILES long.
 
MojoJD said:
basically, if you have a computer and internet, you probably dont qualify.

Its a reduced housing plan, works with both rentals and homes. The only problem is that if you get in on a low cost housing program and get a home on the cheap, you cannot reap the profits of sale because they are price controlled to a large extent.

Also, the waiting lists for desirable communities and cities are MILES long.
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I heard it's about 7 years for Woodbury Walk.
 
MojoJD said:
basically, if you have a computer and internet, you probably dont qualify.

Its a reduced housing plan, works with both rentals and homes. The only problem is that if you get in on a low cost housing program and get a home on the cheap, you cannot reap the profits of sale because they are price controlled to a large extent.

Also, the waiting lists for desirable communities and cities are MILES long.
Click to expand...

All of what you said is completely not true.

Moderately priced, affordable homes ($300K) in Tustin are plentiful and several are up for sale right now. This is due to a large down payment requirement (50% typically to meet state law requirements).

Affordable home price appreciated based upon Area median income and the allowable max sales price for many of the affordable homes have increased while market rate has dropped.

However, low income and very low income homes are difficult to find. Rental affordable units are also very difficult to find as well, but are far more plentiful than for sale affordable homes
 
sejinro said:
Looking to rent. I believe 4 person family w/ 65K qualifies, correct?
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It depends on what income bracket you are aiming for (very low, low , moderate). Also, which county your in, and what city. Again, it's not that there aren't affordable homes for sale out there right now, it's just that, well, they aren't affordable.
 
tkaratz said:
MojoJD said:
basically, if you have a computer and internet, you probably dont qualify.

Its a reduced housing plan, works with both rentals and homes. The only problem is that if you get in on a low cost housing program and get a home on the cheap, you cannot reap the profits of sale because they are price controlled to a large extent.

Also, the waiting lists for desirable communities and cities are MILES long.
Click to expand...

All of what you said is completely not true.

Moderately priced, affordable homes ($300K) in Tustin are plentiful and several are up for sale right now. This is due to a large down payment requirement (50% typically to meet state law requirements).

Affordable home price appreciated based upon Area median income and the allowable max sales price for many of the affordable homes have increased while market rate has dropped.

However, low income and very low income homes are difficult to find. Rental affordable units are also very difficult to find as well, but are far more plentiful than for sale affordable homes
Click to expand...

Who has 50%??? I sold a new affordable homet tract of over 130 homes here in Orange county a while back and it is a nightmare and i will never do it agian. They are for someone who wants to live in that city for decades and the city controls all aspect of price qualifiying etc. to keep them affordable for at least 30 years. So if your in for the very very long haul this is the home for you.
 
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