THE TOWNS @ CITY VILLAGE BY SUMMERHILL HOMES

Sign up for the mandatory Orientation!

San Ramon Hybrid Orientation

When: Thursday, April 17, 2025, 6 pm to 7:30 pm

Where: Council Chambers in San Ramon, 7000 Bollinger Canyon Rd,

*Images may not be representative of the BMR units

INFORMATION & ANNOUNCEMENTS

City Village, a collection of 404 homes, will include a two-acre public park and open spaces, walking and biking trails, gathering nodes, seating areas, and a community barbecue area.

The three distinct neighborhoods include The Towns, The Rows, and The Courts.

• The Towns is a collection of 136 three-level attached townhomes with three or four bedrooms, ranging from 1,720 to 2,250 sq. ft.

  • 4 will be Very Low Income

  • 6 will be Low Income

  • 10 will be Moderate Income

The City of San Ramon is NOT offering any Down Payment Assistance.

PROGRAM DOCUMENTS & DISCLOSURES

Resale Restriction, Deed of Trust, and Notice of Affordability

This program requires you to sign a Restriction Agreement.

Resale Restriction Terms: 30 Years

Understanding the intricacies of the program documents is crucial when considering participation in a housing program. Deed restrictions, agreements, promissory notes, and deeds of trust are all legal instruments that can significantly impact the rights and obligations of property owners. For instance, deed restrictions can limit how a property is used, who you can sell it to, refinancing, and upgrading the home, and it requires the owner to occupy the home. It also sets conditions for its future sale, which includes a cap on the resale value and/or an equity share, depending on the program. Similarly, a promissory note is a binding promise to repay a loan and/or excess sales proceeds (the difference between the home's fair market value and the maximum restricted resale price), and a deed of trust secures the promissory note by placing a lien on the property. Click below to access & review the documents to ensure this program is for you. You can hire an attorney to help you understand the Program Documents you’ll sign and promise to abide by.

City Preferences

Applicants must select the City Preferences by the Drawing Entry deadline and submit proof they meet them by the File Submission Deadline. The Final Ranking number is subject to change after preferences are verified. Applicants cannot adjust their City Preference Tiers/Points after the Drawing Entry Deadline. Preference Tiers/Point adjustments or corrections by the applicant after the Drawing Entry Deadline will not be considered. The Preference will be invalidated if supporting documents are not submitted on time or if insufficient proof is submitted.

RESOURCES

• Learning Library

• How-to and Informational Videos

• How to get started and prepare a file

• Register for HUD Approved 1st Time Homebuyer course

• Housekeys Application Form

• Complete (Full) File Document Checklist

• Lender List and Forms: Click Here

(Navigate the map by clicking and scrolling)

We recommend that you attend another workshop. The way applicants need to indicate City Preferences has changed.