271 Lewis Street Available Soon- 2 bed and 2.5 bath.
See Ownership Opportunity Box Below
NEW HIGHER INCOME LIMITS !
City of Gilroy Hires HouseKeys to serve as Program Admin for BMR Ownership, Rental, and First-Time Homebuyer Loan Programs
On March 6, 2017, Gilroy City Council authorized the City Administrator to enter into contract with HouseKeys to serve as Program Administrator for the city's Below Market Rate (BMR) Ownership and Rental Property Programs, along with the Administration of the First-Time Homebuyer Loan Program. HouseKeys was selected after responding to a Request for Proposal (RFP) process that took place in September 2016. The City is in the process of working with HouseKeys to transition Administration responsibilities. All systems should be up and running by August 1, 2017. We ask that all inquiries (application prospects) and service requests (existing renters, owners, and borrowers) be submitted online using the forms located at the links above.
Start here: Register and build your household profile at https://www.myhousekeys.com/
Gilroy BMR Home Buyer Ownership Program Pre-Application (Click the Words below)
If you don't have a Application ID Number and wish to obtain one to participate in future Opportunities/Lotteries, please fill out the Pre-Application form and attend a HouseKeys Home Buyer Orientation for more details. All applicants, co-applicants, married couples, partners, domestic partners and anyone that can or will be on title must attend the orientation before applying for an Opportunity/ Lottery. It typically takes approximately 14 business days to obtain an Application ID Number. Please continue to check your email and our website for information. If you have any questions, please feel free to contact us by email at firstname.lastname@example.org
Please make sure to follow the instructions for each Drawing/Lottery Opportunity. The Buyer Selection Process and the instructions of when the BMR Application Package, Forms, Exhibits and Supporting documents need to be submitted may change from one release to another. Please be alert. TO APPLY FOR ALL opportunity DRAWING GO TO TAB AT OF PAGE UNDER:
OWNERSHIP OPPORTUNITY FOR 2018
For all information on Opportunity drawings/Lottery's please click the lottery information tab at the top of the page.
For Information on BMR qualifying Income Limits (Click the Words below)
2018 City of Gilroy BMR Home Buyer Orientation Registration
(Select date by clicking HERE)
Program Mailbox Address:
409 Tennant Station #495
Morgan Hill, CA 95037
358 Digital Drive
Morgan Hill, CA 95037
(877) 460-KEYS (5397)
CONTACT INTEREST FORM (CLICK WORDS HERE)
Below is a LIST OF LOAN OFFICERS APPROVED TO LEND ON Gilroy BELOW MARKET RATE (BMR) RESTRICTED HOMES (click words below)
Gilroy Home Buyer BMR Application Forms
Click on the links to download and print the forms.
Program Administrator Responsibilities
dedicated web presence
A dedicated website to facilitate program application and participation activity. This includes information for Developers of new residential units that contain below market rate rental and/or ownership units, and any real estate and lending practitioners involved with transaction activity.
monitoring and compliance
The Administrator must perform annual compliance reviews for Below Market Rate Properties. For ownership units, this will include certifying occupancy and that the owner is still in compliance with the terms of the restriction agreement. HouseKeys will also work alongside landlords to ensure units are still in compliance with the terms of regulatory and affordability agreements.
orientation and education workshops
HouseKeys will be scheduling workshops for prospective applicants to get a good understanding of the application process. We will also be hosting orientation workshops for lenders and real estate agents.
loss prevention and program preservation
Below Market Rate Properties at risk of loss due to foreclosure or noncompliance are one of the biggest program challenges. The HouseKeys Legal Department works to reach work-out solutions with lien holders and owners to ensure that affordable units are not lost from the program.
sale and re-sale of bmr units
As Administrator, HouseKeys will serve as the exclusive listing agent for all sales of Below Market Rate properties still subject to the restrictive covenants of publicly recorded agreements. HouseKeys will have a process in place to cooperate with local agents on the sale. More info to come.
dedicated point of contact
Our true goal is to provide a dedicated point of contact for program applicants, participants, and stakeholders to ensure Program compliance, sustainability, and maintain a high level of service. This is not always easy and sometimes can be incredibly difficult. We appreciate your patience as we work through the "kinks" of on-boarding the city's programs and working alongside staff to make sure we put a dedicated affordable housing resource in place for Gilroy residents.