Guidelines & Requirements
The following general guidelines apply to all funding sources provided and applied through AHOP.
First Time Homebuyer
All members in the household may not have owned
or been on title for any real property holdings over
the past three years prior to submitting an AHOP application.
Maximum Household Income
Income applied to determine a household’s gross combined maximum income includes:
To participate in the City’s AHOP down payment assistance subsidy, the combined gross income from all household members may not exceed:
Financial and Purchase Capacity
AHOP participants must have the financial capacity to purchase a home in Antioch. Lack of financial capacity is normally attributed to a combination of the following items: inferior credit quality/rating, too much debt, lack of the amount and/or stability of earnings, lack of savings.
Homebuyer Education and Counseling
Prior to closing an AHOP purchase transaction, all adult non-dependent household members must secure and deliver a copy of a certificate of completion to BAAHA (and all other subsidy providing partners). This certificate represents that they have attended and completed a HUD approved homebuyer education course. The City of Antioch contracts directly with ECHO Housing to provide free education and one-on-one counseling; however, a household may choose a HUD approved educator and counselor of their choice. A list of HUD approved educators and counselors (including a direct link to HUD’s website) may be obtained at BAAHA’s website by clicking here.
A certificate of completion is not required to submit anAHOP Program Application; however, BAAHA and the City highly encourage household members attend an approved homebuyer education course at your earliest convenience. Securing homebuyer education and counseling will help household members further understand and navigate through the AHOP approval and home purchase process.
Program Application and Approval
Households wishing to access AHOP City funding must submit a Program Application and secure Program Approval from the City. BAAHA is contracted by the City to: 1) process and underwrite the application to determine Program Eligibility, and 2) follow through with all additional steps to finalize AHOP approval for applicants. Below is a synopsis of steps households wishing to obtain an AHOP Program approval must take:
Additional important information on the above noted steps is provided on the program Application and Approval Steps page.
BAAHA and City Certified Lender
In order to receive up to $60,000 in City subsidy funding, an AHOP participant must secure a 1st mortgage loan approval form an AHOP certified 1st mortgage Lender. A City certified 1st mortgage lender must meet the following requirements:
BAAHA maintains a list of Certified AHOP lenders that meet the above criteria. BAAHA provides this list of lenders to AHOP applicants that have received a Prequalification Program Notification (AHOP PPN). An AHOP applicant may choose to use a lender they are currently working with; however, BAAHA will require to review and determine if the 1st lender can participate as an AHOP certified lender. To be certified, the lender will need to meet the above stated conditions.
Review the Subsidy Funding Sources for more information on additional subsidy sources that are available from 1st Lenders.
Condition of Home
Properties purchase with AHOP Funding must meet minimum property condition thresholds to be issued a final Program Approval, and to fund an AHOP City subsidy applied towards the home purchase. Minimum property condition requirements include:
Additional home purchase requirements and parameters are provided in the Property Search and Purchase Requirements section.
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