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Are You an Owner of an Affordable Home?

Are You an Owner of an Affordable Home?

The covenant recorded with your home has requirements about maintaining, improving, selling or refinancing. Below is a summary, but you should review your covenant and the Homeowner Manual (found on the right side of this page) for specific information related to your home.

Capital Improvement

In order to receive resale credit for major home improvements, they must comply with the capital improvement policy and be preapproved by the city before the work starts.

Sale

You must notify us of your intent to sell your home before listing it. We will provide you with the maximum resale price and promote your home on our website. All homes go through a 30-day open marketing period followed by a fair selection process coordinated by the city. Resale homes are also subject to inspection and may require repair if they don't meet maintenance and upkeep requirements.

Refinance

The covenant recorded for your home lets you refinance for up to 93% of the home's maximum resale value. Please notify us of your intention to refinance and we will provide you with the maximum resale value of your home and a letter to share with your lender. Before closing we will review loan documents to confirm that the refinance complies with our mortgage policy and your covenant.

Going Solar

The city's Solar Grant Program provides financial support for the installation of solar electric and solar thermal (hot water) systems on individual residences that are part of an affordable housing program. Visit the Solar Grant page to learn more and apply.

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