Coming soon!
FUsion by Homes built for america
OPPORTUNITY DRAWING #534
(6 Units) 3 Bedrooms / 2.5 Bathrooms
Approx. 1761 Sq Ft
Restricted Sales Price: $TBD
Monthly HOA: $TBD
Property Designated AMI: 120% - Up to Moderate
Occupancy Standard: Household Minimum 1, Maximum 7 people
Resale Restriction Terms: In Perpitutiy (Review the documents below)
Please refer to the ODN (Right) for additional information
Important Deadlines
Drawing Entry Deadline: TBD
Ranking results will be published approx. TBD
File Submission Deadline: TBD by 5:00 PM
MINIMUM DOCUMENTS REQUIRED TO ENTER A DRAWING AND BE RANKED
PLEASE ENSURE YOU REVIEW THE OPPORTUNITY DRAWING NOTICE FOR FULL INSTRUCTIONS, DEADLINES, AND DISCLOSURES.
Applicants who enter by the entry deadline without the required documentation WILL NOT be ranked and fall behind ranked applicants based on entry date and time.
This drawing has required documents that must be submitted by the drawing entry deadline:
1. A Housekeys Application specific to the project and drawing must be completed and signed.
2. A current/valid loan Pre-Qualification: To participate in the drawing and complete the purchase, choose a loan officer from the APPROVED HouseKeys list of lenders and loan officers. Obtaining a pre-qualification letter requires time; we highly recommend you start this immediately. The Lender list, application forms, and lists can be found here: Packaging a Buyer File — HouseKeys
3. Exhibit E – Preference Form with supporting documentation. Locate the form here: Reference Documents & Standard Forms — HouseKeys
PLEASE NOTE: If a selected preference cannot be verified because the completed Exhibit E or the specific supporting documents required by the city are not provided, you will lose the preference and be ranked without it.
How to prepare a buyer file: https://www.housekeys.org/buyerfile
This program is for households that meet the “first-time home buyer” definition for the program. See guidelines.
To view the pre-recorded “Orientation Webinar Video,” please go HERE and complete the quiz.
Steps to Enter the Opportunity Drawing:
1. Create a Profile at MyHouseKeys.com/new
2. Complete the HouseKeys Webinar Orientation
3. Meet with a Registered Lender to get PRE-APPROVED. Pre-approvals by an unregistered lender will not be accepted and delay your review process.
4. Enter the Opportunity Drawing by the published deadline
5. Register for HUD Approved 1st Time Homebuyer course
RESOURCES
Program Documents: Resale Restriction, Excess Sales Proceeds Note, and Deed of Trust
The Resale Restriction limits the price you can resell the house for and the amount of equity it can build. The difference between the home's fair market value and the maximum restricted resale price is known as “Excess Sales Proceeds.” This amount belongs to the program, and the City records a note and deed of trust to protect those proceeds. You are free to hire an attorney to help you understand the program you contractually agree to patriciate and follow. Among other requirements and responsibilities, you will be required to complete an annual compliance certification, validating that you as the owner are still occupying the property. Renting the property will breach program requirements disqualifying you from the program. Updated Documents Coming Soon!
State Income Limits for 2023
https://www.housekeys.org/s/income-limits-2023.pdf
How to get started and prepare a file: https://www.housekeys.org/buyerfile
