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Photo: wsimg.com · Photo: widen.net · Photo: widencdn.net
Abigail Place below-market single-family home
Home for saleLottery
Upcoming lottery for a new 4-bedroom below-market home in Walnut Creek.
4 bed
3.5 bath
4 to 9
people
Cost
Area median income is the middle income in the area: half of households earn more, and half earn less.
| Size | Homes | Price | Income level |
|---|---|---|---|
| 4+ bedrooms | 1 | $262,750 | Up to 50% of the area's median income |
Other costs
Minimum down payment: 3% of the price, from a seasoned account.Minimum credit score of 640 for every adult household member who is not a dependent.
Who can apply
Open to
Any household earning under the limits below.
Household size
4 to 9 people
Other rules from the listing
Area median income is the middle income in the area: half of households earn more, and half earn less.
- Household income at or below 50% of area median income.
- You must be a first-time homebuyer (no home owned for 3 years).
- You must live in the home as your main home at least 10 of every 12 months.
- You must finish a HUD-approved homebuyer education course.
- Housing costs must be 28% to 45% of income, with a credit score of at least 640.
Income limits
The most your whole household can earn in a year, before taxes.
| Household | Maximum income |
|---|---|
| 4 people | $84,850 |
| 5 people | $91,650 |
| 6 people | $98,450 |
| 7 people | $105,250 |
| 8 people | $112,050 |
Who gets priority
These applicants move up the list.
- The city gives a lottery preference to first-time homebuyers who live or work in Walnut Creek
- Work counts by the employer's address, not your home address
How to apply
Documents you'll need
- Lender's signed loan application (form 1003) and transmittal summary (form 1008)
- Lender's loan estimate
- Bank
- Investment and retirement account statements
- Copies of prior filed and signed tax returns
- Payroll papers: W-2 forms
- Recent pay stubs and verification of employment
- Personal ID such as a driver's license
- Utility bills or insurance statements
Forms
Details
Good to know
Applications are accepted now; the due date and lottery date are to be announced.3% minimum down payment.
Source
Listing on myhomegateway.org ↗Confirm the details with the building or office before you apply.