Program Update for Week Beginning August 24, 2015

Hello All

The HouseKeys Team is still processing application numbers 1 through 69. These were the applications included in the Lottery held on August 14, 2015 (Lottery 1 Results).  Households holding application numbers 1 through 69 are encouraged to the Property Selection Form and confirm their Group 1 and Group 2 property choices.

I've received questions from some applicants who were a little confused about the AMI Groups.  I'm hoping the Program Guide for BMR Buyers helps.  I also want to point out that Group 2 applicants are technically able to apply for both groups of properties. This is because Group 1 is for Households with incomes up to 120% of Area Median Income. This would include those households with incomes at or below 80% of AMI.

Please Note:  With the shut down of the NHS Silicon Valley, we lost a key lending partner who provided most of the mortgage pre-approvals and closed most of the Morgan Hill BMR Program purchase loans since 2012.  The Guild Mortgage branch in Morgan Hill is our remaining program partner and we will be setting up new lenders and loan officers in the coming weeks.

We have 13 properties to match up with qualified applicants.  Take a look at our Property Listings if you haven't already.

Group 1 - Property Listings - Lottery 1

Group 2 - Property Listings - Lottery 1

On Friday, August 21 - we sent an email to all of the new applicants who completed the Program Buyer Form through last Friday. We are now up to a total of 107 Morgan Hill application numbers issued.  As we set up additional lenders and loan officers, we will release another update regarding the Morgan Hill Pre-Approval process prior to the next Lottery.

We also have a new Program Guide for BMR Buyers that we've posted on the site as well.

Thank you for your patience

Julius Nyanda

HouseKeys Program Manager

If you have any questions please email bmr@housekeys.org. 

1-877-460-KEYS (5397)