Overview

Guidelines

Funding Sources

- Application and Approval

Synopsis and Key Points

Next Steps

Contact Info

Antioch Home Ownership Program (AHOP)

Application and Approval Steps

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Bay Area Affordable Homeownership Alliance, Inc.

The following steps must be taken to submit an AHOP application and to secure AHOP approval and funding to purchase an Antioch home:

1. Secure a Certificate of completion for attending a HUD approved homebuyer education course
   
2. Submit an AHOP application for Program Prequalification
3. Secure a Program Prequalification Notification
   
4. Secure preliminary 1st Lender and City Program Approval
   
5. Secure an AHOP Program Funding Reservation
   
6. Commence your search for a Program Eligible Antioch Property­
   
7. Obtain Final Program Approval from the 1st lender and the City
   
8. Close the purchase transaction – including receiving funding from AHOP sources

​1.  Homebuyer Education Requirement

​An AHOP application may not be submitted without a Certificate of Completion from a HUD approved homebuyer education provider.  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:

• Do not submit your application until you have thoroughly reviewed the parameters and guidelines to qualify for AHOP subsidies.
  
• Secure a Certificate of completion for attending a HUD approved homebuyer education course.  A list of HUD approved homebuyer educators can be found  by clicking here.
  
• Determine if you qualify to participate in AHOP subsidies. Direct questions or concerns you have regarding qualifying requirement by email to info@myhomegateway.com. Only submit an application if you have completed your HUD approved homebuyer education and have assessed that you qualify and want to participate in securing AHOP subsidies.
  
• Read and follow the AHOP application instruction provided.
  
• Fill out every section of the application that relates to your household. BAAHA will not accept or process incomplete applications.
  
• To be accepted, the application must include the requested census information, and the application must be acknowledged to be truthful under the penalty of perjury and signed.
  
• Households are not required to have identified a 1st Lender or a real estate agent to submit an AHOP application.
  

 
Contact BAAHA at info@myhomegateway.com 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 issued based 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:

• Household meets AHOP Program eligibility requirements
  
• Household has the financial capacity and wherewithal to participate in an AHOP subsidy
  
• The estimated maximum purchase price falls within the minimum purchase price requirements to participate in the AHOP and purchase a home in Antioch.
  

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. 

Purchase Capacity

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. The estimated maximum purchase price will be based on providing a household the maximum AHOP subsidy available from all subsidy sources.  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

Home Prices

BAAHA has conducted a comprehensive study of Antioch sales prices from August of 2023 to August of 2024. During that time Antioch home sale prices have ranged from $175,000 to $1,100,000, with a median price of $625,000. 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 August 2023 through August 2024.

An illustration of the approximate correlation between earnings and maximum purchase prices and monthly housing costs is provided in the AHOP Guidelines Page.

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​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 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.  A Preliminary 1st lender approval and a funding reservation must be obtained prior to the household commencing with their home search and purchase process. The first lender approval process will:

•  Confirm the household’s maximum purchase price for their Antioch property
  
•  Establish the capacity and eligibility for the PPN household to participate in the WISH and other Grant Programs the 1st lender has access to.
  
• Enable the City/BAAHA to perform their underwriting process and issue a Preliminary Program Approval and Funding Reservation for the household to purchase a home and secure City funded AHOP subsidy. A final Program approval is issued by the City and the 1st lender after the household has entered into a purchase contract; and the property is approved to be financed by the 1st lender and the City.
  

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5.  AHOP Funding Reservation

An AHOP Funding 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.  AHOP participants may be required by BAAHA/City to secure additional subsidy funding through grants/subsidies provided through a certified AHOP 1st lender.

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 10 (ten) 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 ten of all the reserved households to purchase an Antioch home will most likely deplete the City’s AHOP funding for the 2024/25 funding cycle.  Given the availability of future funds, the City’s one-year funding cycle may be replenished July of 2025.

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​
General Requirements
Key considerations AHOP participants must take into account when searching for your home include:

• Make certain to secure an AHOP Funding Reservation prior to starting the search for an Antioch home.  BAAHA/City will not provide a Funding Reservation or Program Approval for households who have not received a Funding Reservation prior to starting their home purchase process. An exception to this protocol will only be considered if the household has entered into a purchase contract that has at least a 45-day closing period, commencing from the date the household submitted an application to BAAHA.
  
• City of Antioch Location - AHOP participants securing AHOP City funds must purchase a home within Antioch’s City Limits
  
• Type of Home – the home must be a single residential unit which could be a detached single family home, condominium, or townhome. No other property types are allowed into the AHOP Program.
  
• Good Condition – the home must be in good move-in condition and not have any outstanding required structural and Section 1 repairs. Section 1 repairs are usually related to areas in the home that have active termite infestation or other wood-destroying insects or organisms like dry-rot fungus (likely caused by water intrusion).
  
• Property Must Be Vacant or Owner occupied – AHOP does not allow displacement of renters from a home an AHOP participant is purchasing.  The home could be occupied by owner residents who will be moving out at the time the home is sold.  Make certain to contact BAAHA at info@myhomegateway.com if your household is considering to purchase the home you are currently renting.
  

 
Purchase Requirements
The following home purchase requirements must be upheld to secure final AHOP approval:

• Forty-five (45) day escrow period – Upon finding a home, the purchase offer cannot have less than a 45-day escrow period. Forty-five days are required to complete the Program approval process (including reviewing and approving all inspections and appraisal reports), draw Program related documents, and route documents through City staff.
  
• Property inspection(s) – The buyer and/or seller must provide a general property inspection and termite/pest inspection produced by independent licensed inspectors to BAAHA/City.
  
• Property appraisal – the City/BAAHA will require the delivery of an independent property appraisal which must demonstrate that the purchase price of the property is equal to or less than the contracted purchase price. The 1st lender will almost always provide a property appraisal the City will review.
  
• Escrow Requirements – Given that government generated subsidy funds are applied towards the transaction, no cash back or refunds to the borrower above $250 is allowed at the close of an AHOP transaction.
  

Purchase Representation
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:

• The AHOP participant has received Preliminary Approvals from the 1st Lender and the City.
  
• The AHOP participant has located and placed a ratified offer on a property located in Antioch. Thecontract must have at least a forty-five (45) day close for AHOP to provide their final Program approval.
  
• The property meets all the structural condition requirements and is appraised at or higher than the purchase price (as represented in the ratified purchase contract).
  

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.