In this video, HouseKeys Program Manager, Julius Nyanda, explains the confusion between determining WHO is eligible to buy or rent a home vs. WHAT is considered an affordable payment for a renter or buyer.
City of Santa Clara BMP Program Orientation held Tuesday, April 5, 2022
We’ll be adding additional notes here about the Orientation, but this is the video of the Orientation Class held this week. Here are some areas that we’ve noted that may be helpful:
07:25 Discussing Income Limits and how "Median Income" defines income categories
17:49 Breaking down terminology: Programs, Drawings, and Opportunities
30:42 The File Cabinet and how you upload supporting docs to the MyHouseKeys system
58:22 How a max restricted price is calculated during years 1 through 5 of your restriction agreement that you sign with the City of Santa Clara. During years 6 to 20 is when you can earn access to the Equity Share. If you stay until year 20, you earn access to all the equity, less what you owe the City.
1:15:05 How homes may not seem affordable because developers will price to the maximum allowable and in high-income counties, limits are very high
1:18:53 The difference between Program Eligible and Opportunity Qualified (Maximum vs. Minimum Income)
Saturday FAQ - March 26, 2022 at 12 Noon
This was a makeup FAQ Session due to a scheduling mishap that originally had the FAQ Sessions Scheduled for 9 AM. In this session, we covered topics like:
How Pricing works
How Restrictions work
The File Review Process
How we should think of the term “affordable” in affordable housing
Income Categories
State of California Income Categories
Federal (National) Income Categories through HUD
Click on the Video Below to Watch the Session
Welcome to the HouseKeys Info Blog Page
We’ll be using this Blog to provide updates on programs, our organization, and any policies and procedures. We realize that there is a lot of information that may or may not be getting to our applicants (buyers and renters), participants (existing owners and tenants), our agency clients (cities and counties that use HouseKeys) and our homebuilders. We’re looking to change that by using HouseKeys Info to get information out to our community of users and partners. We thank you all for your patience as we improve and evolve the HouseKeys Team and Platform.