A new condominium project located at 100 First Street in downtown Los Altos is selling five, one and two-bedroom, below-market-rate units ranging from $179,300 to $339,930. Open Doors. Hello Housing’s Oakland and San Francisco physical offices are now closed, however our team is up and running from our respective homes. The average sale price of a home in Los Gatos was $1.88M last month, up 9.0% since last year. However, the owner may request that the Town accelerate these time periods. Hello Housing will notify the owner of the approval or denial of the request within 10 days of receipt of the hardship acceleration request. For a detailed description of the BMP program, please see the Below Market Price Housing Program Guidelines. If you wish to make improvements to your home and would like to have the improvements considered when calculating the BMP restricted value of your home, please contact Hello Housing prior to the work being completed. P.O. Town of Los Gatos’ Below-Market Price Program Hello Housing is pleased to be administering and monitoring the Town of Los Gatos’ Below-Market Price (BMP) Housing Program. The Town has a Below Market Price unit available for purchase. Interested buyers must apply to the Los Altos BMR program to be considered for purchase opportunities: Applicants required to attend an application workshop —register at … Jennifer Duffy, Vice President, turns opportunity into action with the Hello Housing team. For more information, please read over our. Hello Housing is also a resource for existing BMP homeowners to provide education about the BMP program and to assist in refinancing their home. Thank you for your understanding and stay healthy! More detailed questions should be referred to Alta Housing. While Hello Housing will assist with the annual income certification of current tenants of BMP rental units, please note that inquiries and applications for BMP rentals should be directed to the property managers of each individual rental site. Homes in Los Gatos receive 5 offers on average and sell in around 33 days. 'Below Market Price' Unit Available In Los Gatos For $274K "Below Market Price" homes have certain deed restrictions which ensure they remain affordable for future generations. 1-bedroom units. San Francisco, CA 94102 P.O. Apple lives in a new type of housing made possible by Senate Bill 962, sponsored by former Senate pro Tem Darrell Steinberg. As part of our program management activities, Hello Housing will assist existing homeowners interested in selling, refinancing or making capital improvements to their home. Board Member Rick Jacobus is a national expert using data, not anecdote, to design more impactful affordable homeownership programs. Once you have submitted a Notice of Intent to Sell, the Town has 90 days to accept its right to purchase the property. We look forward to serving the great residents of the Town of Los Gatos! Due to school closures and evolving child care needs, our response times for non-urgent inquiries may be delayed. As part of our program management activities, Hello Housing will assist existing homeowners interested in selling, refinancing or making capital improvements to their home. LOS GATOS, CA — The town of Los Gatos on Wednesday announced the availability of a below market rate home. Hello Housing’s Oakland and San Francisco physical offices are now closed, however our team is up and running from our respective homes. Below Market Price (BMP) Housing Program When new developments are approved by the Town, the Below Market Price (BMP) Housing Ordinance adopted in 1979 requires developers to offer a minimum percentage of the units so they are affordable to lower and median income households. Hello Housing is pleased to be managing the Town of Los Gatos’ Below Market Price (BMP) Housing Program. General questions about the City's Affordable Housing Program can be directed to the City of Los Altos Planning Division at (650) 947-2750. Matt Warner, Program Director for Hello Stewardship, makes affordable homeownership happen. Below Market Price Housing Program Guidelines, 1008 or other loan underwriting form indicating amounts and terms of all financing. Please see below for guidelines and requirements. The average sale price per square foot in Los Gatos … For more information, please read over our Coronavirus updates. Box 423690 Matt Warner, Program Director for Hello Stewardship, makes affordable homeownership happen. Tien is a proud new owner of an affordable home in Newark, as well a box full of tools to make home repairs easy. Please note that the resale restrictions of your home are outlined in the Notice of Recorded Deed Restrictions, Refinance Restrictions and First Right of Refusal of the Town of Los Gatos made between you and the Town of Los Gatos at the time you purchased the home. The deadline to apply is Aug. 31. Additionally, there are 64 other low income apartments that don't provide direct rental assistance but remain affordable to low income … The final transfer of property may not occur until up to 270 days after the Town’s receipt of your Notice of Intent to Sell. A. doing all we can to make sure that we are being proactive in preventing the spread of the coronavirus, while remaining steadfast in our commitment to serve our program participants and our partners. Hello Housing will then calculate the BMP restricted value of your home. Below Market Price Homes in Los Gatos. Four Below Market Price homes for low and moderate income seniors. Tien is a proud new owner of an affordable home in Newark, as well a box full of tools to make home repairs easy. Board Member Rick Jacobus is a national expert using data, not anecdote, to design more impactful affordable homeownership programs. All loans used to purchase or refinance BMP homes must have a fixed interest rate and a fixed loan term without balloon payments to minimize homeowners exposure to increased risks of mortgage default. Purpose: The overall purpose of the Below Market Price (BMP) Housing Program is to provide the Town of Los Gatos with a supply of affordable housing. While the program is available to all qualified applicants, the general intent of the program is to provide affordable housing for households who work or currently live in Los Gatos. The BMP Program includes affordable homes for sale and for rent. Mardie Oakes, President, blends finance, design and development to make places people thrive. Jennifer Duffy, Vice President, turns opportunity into action with the Hello Housing team. We invite you to learn more about these programs and other resources available to the residents of Los Gatos. For more information regarding the resale process, please email Hello Housing. Matt Franklin, President of MidPen and Hello Housing board president, believes everyone deserves quality, affordable housing. Mardie Oakes, President, blends finance, design and development to make places people thrive. Hello Housing is doing all we can to make sure that we are being proactive in preventing the spread of the coronavirus, while remaining steadfast in our commitment to serve our program participants and our partners. Hello Housing staff will provide the lender with a letter stating the BMP restricted value of your home and any other documentation requested. Lenders will be required to submit the following documentation to Hello Housing as part of the refinance eligibility screening: Refinance package submittals can be emailed or mailed to: Hello Stewardship – Los Gatos Refinance Hello Housing is pleased to be administering and monitoring the Town of Los Gatos’ Below-Market Price (BMP) Housing Program. Due to school closures and evolving child care needs, our response times for non-urgent inquiries may be delayed. Los Gatos features 107 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent.