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The primary objective of the Antioch Home Ownership Program (AHOP) is to expand homeownership in the City of Antioch. AHOP achieves this objective by providing homebuyers guidance, support, and access to resources and services to become a homeowner. AHOP will assist homebuyers to:
What Financial Subsidies May be Available for Homebuyers?
The purpose of homebuyer financial subsidies is to increase the homebuyers purchase price and/or to lower monthly ownership costs. Some of these subsidies may be combined with each other to expand the amount of financial benefits that homebuyers can receive. AHOP participants may be able to receive a mix of the following homebuyer assistance subsidies:
BAAHA, AHOP Partners, and the City of Antioch would like to thank all of you that attended the AHOP Launch Event on Saturday March 24, 2018. We'd also like to thank those of you who could attend the 2nd Session for non-live/work homebuyers on such short notice. We have provided the homebuyer materials from the AHOP Launch Event below.
3. Financial and Homebuyer Counseling
Homebuyers that have financial challenges in purchasing a home will be directed to BALANCE. BALANCE is AHOPs HUD certified non-profit financial homebuyer counselor. AHOP covers the cost of counseling for households whose combined income is equal to or less than 80% AMI. BALANCE will work with the household for as long as needed to achieve their financial objectives. Households with incomes higher that 80% AMI will need to work directly with BALANCE to make an arrangement to receive counseling (refer to the AMI table above).
1. Attend HUD Certified Homebuyer Education
In order to gain access to the maximum financial subsidy available through AHOP (up to $45,000), homebuyers will be required to attend a Department of Housing and Urban Development (HUD) certified homebuyer class. AHOP will schedule 4 public classes in Antioch over the following 12 months. In addition, civic organizations and employers can work with AHOP to schedule these classes at their facilities.
4. Secure Financing and Subsidies to Purchase a Home
Households that have the financial capacity and willingness to purchase a home will be directed to start the loan preapproval process. AHOP is highly focused on making certain that AHOP homebuyers utilize all of the homebuyer subsidies that they are eligible to receive. AHOP’s primary sponsoring funding partner Guild Mortgage. Guild has access to up to $45,000 of subsidies to provide AHOP homebuyers.
A key part of starting the process with AHOP is to complete and submit an AHOP Prescreen Application (click here to download). This application will be reviewed by the AHOP team to determine a multitude of factors such as your eligibility status for downpayemnt assistance. Our staff and partners also review your application to connect you to homebuyer educators via homebuyer workshops and/or counseling, if necessary.
It is very important to provide all the information requested on the application. AHOP's goal is to provide you as a homebuyer the resources that are most relevant to you. If you do not live or work in Antioch, but have a tie to the City in any way, please note this on the application. Click here to read about AHOP partners.
2. Submit an AHOP Application (click here to download)
Submitting an AHOP application to the Bay Area Affordable Homeownership Alliance (BAAHA) allows staff to conduct a preliminary analysis on the positioning and the next steps that the prospective homebuyer will need to take. Outcomes and next steps may include:
5. Work with the Real Estate Community
AHOP is working with the Delta Association of Realtors to structure a list of AHOP Certified Realtors. AHOP plans to have the list of AHOP Certified Realtors available by mid-April of 2018. AHOP Certified Realtors will have a solid understanding of the AHOP program and will have a strong capacity and willingness to represent AHOP buyers.
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The Bay Area Affordable Homeownership Alliance, Inc. © 2018 | All Rights Reserved
The Bay Area Affordable Homeownership Alliance is a non-profit 501(c)(3) organization focused on promoting & delivering affordable homeownership in the Bay Area.
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