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Homebuyer Down Payment Assistance Up to $125,000 City of Anaheim Attainable homeownership a t THE DOMAIN IN DOWNTOWN Anaheim PROGRAM GUIDELINES AT TIME OF APPLICATION Income Limits Maximum allowable income is limited to amounts listed below. Household Size Low Income 80% Moderate Income 120% 1 $51,250 $73,250 2 $58,600 $83,700 3 $65,900 $94,200 4 $73,200 $104,650 5 $79,100 $113,000 6 $84,950 $121,400 7 8 $90,800 $96,650 $129,750 $138,150 Homebuyer Requirements No ownership interest in residential property at time of application. Proof of permanent legal US residency for all persons in household. Cash Asset Cap $92,000 (excluding retirement accounts) Minimum Investment Minimum of 3% cash down payment from borrower’s own resources or gift from immediate family member. Homebuyer Education Completion of HUD Certified Homebuyer Education Program. Priority First-come, first-serve basis. Property Requirements Single unit within The Domain. Maximum Loan Amount Low-Income: Up to $125,000 dollars 1 Moderate-Income: Up to $100,000 dollars 1 City Loan Terms 30 year term; 3% - 5% fixed simple interest; deferred payments. Due at maturity, sale or transfer of property, or if no longer owner occupied. Occupancy Type & Requirements Owner Occupied. Maximum number of bedrooms allowable equals total number of persons in household plus 1. Maximum number of occupants allowable equals total number of bedrooms multiplied by 2. First Mortgage & Additional Financing City approved lender; 30 year fixed interest rate mortgage; compatible with conventional, FHA, FNMA, and other government assisted loans; full documentation; full amortization. 1 Based on gap financing and the availability of City funds. Rev. 06/14 For further questions: 1-[PHONE REDACTED] ext. 4866 or ext. 4890 Please submit your application and requested documents to The Domain Sales team: 401 S. Anaheim Blvd., Anaheim CA 92805. For application inquires, please call: 1-[PHONE REDACTED] or 1-[PHONE REDACTED] ---PAGE BREAK--- Rev 02/2014 CITY OF ANAHEIM Homebuyer Downpayment Assistance Application BORROWER INFORMATION Borrower Co-Borrower Name Name Address Address City/State/Zip City/State/Zip No. of Years at Residence Age No. of Years at Residence Age Social Security No. Social Security No. Home Phone Home Phone Email Address: Email Address: Married Separated Unmarried Married Separated Unmarried OTHER HOUSEHOLD MEMBERS Full Time Name (Last, First) Age Relationship Gross Income Student (Yes/No) EMPLOYMENT INFORMATION Borrower: Occupation Co-Borrower: Occupation Name and Address of Employer: Yrs. on this job Name and Address of Employer: Yrs. on this job Self employed? Self employed? Business Phone: Business Phone: GROSS INCOME ASSETS List all assets: (savings, checking, stocks, pension, 401K, bonds, etc.) Item Borrower Co-borrower Name of Depository Account No. Cash Value Salary $ $ $ Hourly Pay Commissions Tips Annual Bonus Other Other TOTALS $ $ $ OTHER INCOME List all other sources of income: (include interest, social security, rental income, pension, alimony, child support, unemployment, etc.) Amount $ DECLARATIONS Yes No Do you or any household member presently own real estate? Have you or any household member owned real estate in the last three years? Are you a legal resident of the U.S.? (Provide documentation) Will part or all of your down payment be a gift? (If yes, provide “gift letter”) ACKNOWLEDGMENT AND UNDERSTANDING I/we understand that Section 1001 of Title 18 of the U.S. Code makes it a criminal offense to make willful false statements or misrepresentations to any Department or Agency of the U.S. as to any matter within its jurisdiction. Borrower's Signature Date Co-Borrower's Signature Date ---PAGE BREAK--- Rev. 02-2014 City of Anaheim Homebuyer Application Checklist Please submit copies of the requested documentation listed below that apply to your household. The only original documents that will be accepted are the attached City Forms. City Application: Complete all applicable sections (original document). Consent to gather information (original document). Current driver license or valid photo I.D. for all applicants. Proof of legal residency in the United States (birth certificate, alien resident, passport, naturalization certficiate) for all household members, including children. Copy of Social Security cards for all household members including children. Four most recent employment paystubs for all household members over the age of 18. NOTE: Any person intending to occupy the home you purchase is considered a household member. Three most recent months of complete bank statements (savings, checking, certificate of deposit, 401K, retirement fund, etc.) for all household members over the age of 18. Three most recent years of federal income tax returns for all household members over the age of 18,including W-2s for those 3 years. All other sources of income for all household members over the age of 18 (Social Security, Pensions, Unemployment, Annuity, Interest, etc.) Legal proof of child support, spousal support, child custody, etc. that affects family income. If source of downpayment is in the form of a gift, HOMEBUYER GIFT LETTER (original document) must be completed and signed by the donor. Donor verification of funds must be attached to the Gift Letter (i.e. copy of bank statement showing gift amount on deposit). Self-employed individuals will be required to submit most recent12 months of personal and/or business checking account statements. Any household member over the age of 18 attending school full-time, must provide proof of school schedule and a school photo I.D. card. (minimum of 12 units is required). The processing of your application WILL BE DELAYED IF ALL DOCUMENTS THAT APPLY ARE NOT SUBMITTED WITH THE APPLICATION. ---PAGE BREAK--- G:\NCM9402CT_LETTER.DOC HOMEBUYER GIFT LETTER To: City of Anaheim Housing Services Agency I/We (donor/s), do hereby certify the following: 1. I/We will pledge a Gift of to my/our (relationship). 2. Donor’s source of Gift Please attach a copy of your bank statement verifying gift funds in the above indicated amount. 3. This Gift is to be applied toward the purchase of a property located in the City of Anaheim. 4. No repayment of this Gift is expected or implied either in the form of cash or by future services of the recipient. Signature of donor Date Print or type name of donor Phone number Address of donor Signature of donor Date Print or type name of donor Phone number Address of donor Rev 04/09 ---PAGE BREAK--- G:\NCM9402BORMATION.DOC CONSENT TO GATHER INFORMATION As applicants for a loan from the city of Anaheim, I/we hereby give our consent to the city of Anaheim and/or its authorized agents to exchange, disclose and obtain any and all information concerning our employment, checking and/or savings accounts, obligations and all other credit matters which the city may require in connection with our application for a loan. This form may be reproduced or photocopied and that copy shall act as effective consent as the original which we have signed. Borrower Print Name Co-Borrower Print Name Street Address / City / State /Zip Borrower Signature Co-Borrower Signature Date Date Other household qualifying income members: Print Name Print Name Signature Signature Date Date I hereby certify this to be a true and correct copy of the original By