Application and Approval Steps
|Bedroom size||1||2||3||4||5||6+||All Sold|
|Total Homes Sold||2||131||587||502||222||31||1,475|
Required steps to submit an AHOP Application, secure a Program approval and funding, and to purchase an Antioch home include:
1. Homebuyer Education Requirement
An AHOP application may not be submitted without a Certificate of Completion from a HUD approved homebuyer education provider. The preferred AHOP education provider is A-1 Community Housing Services https://www.a1chs.org/. Additional HUD approved homebuyer education providers can be found on BAAHA’s website at https://www.myhomegateway.org/hud-certified-counseling-agencies.html. All adult non-dependent household members are required to have a Homebuyer Education certificate to submit an AHOP application.
2. Program Application Submittal
Households must submit an application to BAAHA to receive a Preliminary Prequalification Notification to advance their efforts to secure AHOP subsidy approval. Review the following requirements and steps prior to submitting an AHOP application:
Contact BAAHA at firstname.lastname@example.org if you are having difficulties accessing/downloading the PDF application from the website. BAAHA can email you a PDF version of the application.
All adult non-dependent household members are required to have a Homebuyer Education certificate to submit an AHOP application.
3. Program Prequalification Notification (PPN)
BAAHA conducts a preliminary review of the submitted Program Application to determine the household’s eligibility to advance efforts to secure AHOP Program Approval and an AHOP Funding Reservation. If deemed eligible, BAAHA will issue the household an AHOP Program Prequalification Notification (PPN). A PPN is not a program approval. The PPN provides the household the consent to proceed forward with securing a Preliminary AHOP Program Approval. BAAHA will not commence with an AHOP Program Approval until the household receives a PPN from BAAHA.
PPNs are underwritten and issuedbased on information provided in the AHOP application. False or inaccurate information provided in the application could disqualify a household from moving forward with Program Approval. The Program Approval applies a comprehensive underwriting process to make certain all information provided in the AHOP application is accurate. To prevent Program disqualification, make certain to provide accurate and complete information in your Program application.
BAAHA will take the following items into consideration to issue an AHOP PPN:
When issuing a PPN, BAAHA will provide a preliminary estimated maximum purchase price for the household. This estimated maximum purchase price will be based on information provided by the applicant in the Program Application. The PPN price provided is an approximation of the maximum price the household can apply towards purchasing a home. A final maximum purchase price is reviewed and provided when the household secures a Preliminary 1st Loan Approval from their 1st lender.
When issuing a PPN, BAAHA will provide a preliminary estimated maximum purchase price for the household. The maximum purchase price will be determined from information provided in the Program Application. This estimated maximum purchase price will be based on providing a household the maximum AHOP subsidy (from all subsidy sources) of up to $119,000 for a low income household; and up to a $60,000 subsidy for moderate income households. BAAHA’s maximum purchase price calculation will incorporate the amount of income, savings, and debt stated in the application. The calculation will also employ the most favorable accessible interest rate offered through the AHOP program. An Applicant may be disqualified from receiving a PPN if the household does not have the financial capacity to purchase a home within the minimum market price range for homes in Antioch. Minimum purchase price capacity will be determined by the size of the household. Households will be provided the ability to purchase a home that has a bedroom count that is the household plus one (see table below).
1 person household = maximum 2 bedrooms
2 person household = maximum 3 bedrooms
3 person household = maximum 4 bedrooms
4 person household = maximum 5 bedrooms
6 person household = maximum 6+ bedrooms
BAAHA has conducted a comprehensive study of Antioch sales prices from July of 2021 to July of 2022. During that time Antioch home sale prices have ranged from $160,000 to $1,568,000, with a median price of $650,000. Below is a representation of the median, low, and high sales prices for one to six plus bedroom homes in Antioch. The table below also provides the number of homes sold for specific bedroom sizes. These prices are derived from data provided through the California Association of Realtors and analyzed by BAAHA. The table below is only to be used to establish an illustration of approximate home prices based on bedroom size. Prices depicted in the table are based on purchase transactions from April 2022 through April 2023.
An illustration of the approximate correlation between earnings and maximum purchase prices and monthly housing costs is provided in the AHOP Guidelines Page.
Program Qualified Applicants Next Step
Program Prequalified Applicants will be invited to continue their AHOP Program Reservation and Approval process. The next steps will be to obtain a 1st Lender Loan Approval and AHOP Funding Reservation. Households should always keep in mind that there are limited funding resources and households will receive Program approvals and funding on a first come first served basis.
4. Preliminary 1st Lender and City AHOP Approval
An AHOP Program Funding Reservation may only be secured after the household has secured a Preliminary 1st lender approval from a BAAHA/City certified 1st mortgage lender. There are two stages in securing a 1st lender loan approval. The first “Preliminary” stage financially approves the household to purchase a home. In the second approval stage, the lender approves applying the loan for the specific property an AHOP participant will be purchasing. Preliminary 1st lender approval and a funding reservation must also be obtained prior to the household commencing with their home search and purchase process. The first lender approval process will:
5. AHOP Fund Reservation
An AHOP Fund reservation provides AHOP applicants a commitment from the City, BAAHA, and the 1st lender to provide funds to purchase a Program eligible home in Antioch. The funding reservation enables households to search for a property within parameters establish through the 1st lender and AHOP funding approval guidelines. Maximum City AHOP funds provided will be the lesser of 20% of the purchase price or $60,000. Eligible Low Income AHOP participating households may secure commitments by the 1st lender and BAAHA for up to an additional $59,000 in purchase and closing cost subsidies.
First Come First Served
AHOP Funding Reservations will be provided to all AHOP Program Reservation approved household. Reservations will be assigned until AHOP City funds have been depleted. Funds will be distributed to assigned households on a first come first served basis. The current AHOP City funding allocation will fund approximately 20 home purchases. It is anticipated that there will be a larger number of reservations than funding units. Accordingly, all reserved households may be searching to purchase an Antioch home at the same time. The first twenty of all the reserved households to purchase an Antioch home will most likely deplete the City’s AHOP funding for the 2023/24 funding cycle. Given the availability of future funds, the City’s one-year funding cycle may be replenished July of 2024.
Non-City related subsidies such as the Federal Home Loan Bank WISH Program, are also disbursed on a first come first served basis; and are subject to the same funding conditions as City AHOP funds.
BAAHA highly advises for Program Reservation AHOP applicants to maintain a proactive and diligent effort in their home purchase endeavors to further assure their likelihood to take advantage of, and capture AHOP funding sources.
6. Property Search and Purchase Requirements
Key considerations AHOP participants must take into account when searching for your home include:
The following home purchase requirements must be upheld to secure final AHOP approval:
The buyer must be represented by a California licensed real estate agent. AHOP participants are responsible for providing BAAHA the name and contact information of their agent. A real estate agent does not have to be identified to submit an AHOP Application. BAAHA has a strong preference that escrow services are conducted by an escrow company that has experience in working with City Programs.
7. Final 1st Lender and City AHOP Approval
A final 1st Lender and City AHOP Approval will be provided after:
First Come First Served
There is a finite and limited amount of funding available from all AHOP subsidy sources. Funding will be distributed to Program Approved households who have entered into and closed a purchase contract on a first come first served basis. The City/BAAHA will issue Program Prequalification Notifications until such time that the Program subsidy sources run out of funds. In the case that there are multiple applicants that have secured Preliminary Approval; applicants that either live or work in the City of Antioch will be provided a higher priority to receive funding.
8. Close the Purchase Transaction
BAAHA will be interacting and coordinating all AHOP Program related closing activities with the City, lender, real estate agents, and escrow company involved with the home purchase. The purchase contract must have at least a 45-day closing period in order to complete all the additional AHOP related tasks to close the transaction.
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