Apply for Homeownership Opportunities in Camarillo


Download an application below or pick one up from the Habitat for Humanity office (1850 Eastman Ave., Oxnard, CA 93030)

Homeownership Opportunities - Camarillo

 

1. Home Information

Architectural rendering (preliminary):

Home Description:

- 3 bedrooms, 1.75 baths, 2 story home
- Approximately 1,500 sq. ft.
- Parking for 2 vehicles
- Located at 2521 Barry Street, Camarillo, CA 93010

Estimated Project Timeline:
- Begin Construction Oct 2018
- End construction Jun 2019
- Move-in Aug 2019

Estimated Home Price: $250,000

Estimated Down Payment: 3% or $7,500

Estimated Monthly Mortgage Payment: $1,650 (inclusive of mortgage, interest, taxes and utilities)

Resale Restrictions - each home must remain an affordable unit for a period of at least 55 years during the ownership of the Affordable Unit by each purchaser, who must be a Qualified Household (as defined on next page). The initial 55-year resale restriction period for the homes will commence on the close of escrow for the initial sale of each home. Restriction may be longer than 55 years.

2. Qualification Requirements

• Need
o Demonstrated family need for safe, decent and/or affordable housing

• Ability to pay
o Able to obtain pre-approval letter from bank for home loan
o Able to pay a minimum down payment of 3% of the final house price
o Liquid assets must not exceed $100,000 at the time of determination of eligibility.
o Gross household income must be below 80% of Area Median Income for Ventura County:

• Willingness to partner
o 500 hours of sweat equity contributed by the home buyers
o Participate in required homeowner education classes

• Must be legal US residents and preference will be given to persons who have lived or worked in Camarillo continuously for the past two years or more
• Must not be an owner of real property. No purchaser of the home may include an person or any household comprised of one or more persons who currently owns any real property at the time of closing
• Home-buyers cannot be a student dependent, as defined in the U.S. Internal Revenue code, unless the taxpayer (upon whom the student in question is dependent) resides in the same home
• Home-buyers cannot be a relative of employees or directors of Habitat for Humanity of Ventura County

3. Application Process

1. Applications will be available until Friday, August 3rd at the Habitat Office (1850 Eastman Ave., Oxnard, CA 93030) or can be downloaded online at www.habitatventura.org/barrystreet

2. Applications will be accepted on a first-come first-serve basis ONLY at the Habitat for Humanity office from 9am on Friday, August 3rd. Please note incomplete applications will not be processed.

3. Application must include the following:
a. Completed Application for Homeownership
b. Mortgage pre-approval letter from bank
c. Income documentation and proof of residency

4. Approved applications will be placed on a “Qualified Applicant” list. After the first 6 approved applications have been accepted, all other applications will be placed on an interested persons list. You will be notified within 30 days of your acceptance or denial.

5. Qualified applicants will make an appointment with Habitat for Humanity to enter into Partnership Agreement.

4. List of Potential Lenders in Ventura County

 

Ventura County Community Development Corporation
Name: Francisco Aguirre
Address: 2231 Sturgis Road, Oxnard, CA 93030
Phone: 805-273-7804

 

Union Bank
Name: Martha M Solis Kligman
Address: 400 E Esplanade Dr. Suite 101
Phone: cell 805-479-1083 office 805-288-4414
Email: martha.soliskligman@unionbank.com

 

Montecito Bank & Trust

Name: Christine Gonzalez
Address: 770 Paseo Camarillo Suite 120, Camarillo, CA 93010
Phone: (805) 963-7511
Email: cgonzales@montecito.bank