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Affordable Housing

The City is a Participating Jurisdiction, who receives federal funds directly from the U. S. Department of Housing and Urban Development (HUD) and looks for opportunities to apply for State grants related to affordable housing.  The City of Visalia strives to provide safe, decent and affordable housing to a range of income owner-occupants, renters, senior citizens and disabled persons.  The City’s proposed goals and objectives are presented in the federally-mandated Consolidated Plan and Annual Action Plan.  

Visalia’s programs provide financial incentives for the creation and preservation of affordable housing to low –income homebuyers and current homeowners.  Programs include the following with a Summary PDF attached:

First Time Homebuyer –HOME Funded Program
The City of Visalia Home funded, First Time Homebuyer Program has returned!!!  The City receives HOME funds through the U.S. Department of Housing and Urban Development (HUD).  On April 15, 2013, City Council approved the return of the “First Time Homebuyer Program”, which provides income qualified households (at or below 80% of the area median income), with gap financing toward the purchase of a home within city limits.  The borrower is required to provide down payment funds in the amount equal to a minimum of 3 ½ % of the purchase price, and closing costs not covered by the principal or program loan.  The City is working with Community Service Employment Training, Inc. (CSET) who is administering the program.  See our “FTHB 2014 Fact Sheet” for more information about this program.  See our FTHB 2014 policies herein for detailed requirements. 

Please note that in order to qualify for assistance, applicants must attend eight (8) hours of home counseling (free to applicant) through Community Service Employment Training, Inc. (CSET); provide proof of income to meet HUD HOME requirements; complete a City of Visalia FTHB Application, meet loan underwriting requirements and accept a 10-year Affordability Covenant (owner occupancy) which is placed upon the property with a recorded Owners Participation Agreement.  The loan amount reflected represents the maximum.

The gap financing is provided as a second mortgage loan, at an interest rate of 2% simple interest, for a 30 year term.  Repayment terms are 10 years deferred, with repayment for 20 years.  The maximum purchase price of the home may not exceed $171,000 (as of February 1, 2014).  The maximum purchase price allowed is determined on a semi-annual basis and determined by the City’s analysis conducted of homes sold over a period of time, and follows the HUD’s HOME Rule 24 CFR 92.254.

The actual amount of assistance will be determined based upon the first mortgage loan, borrower down payment, income, debt ratios and other underwriting criteria.  The loan and covenant terms are as follows:

    - $15,000 maximum for borrowers with income between 61% up to 80% AMI:
    - $25,000 maximum for borrowers under 50% and up to 60% AMI:

Foreclosure Acquisition Program II- (FAPII) HOME Funded
The City of Visalia is proud to share with you an opportunity to purchase a refurbished home through the U.S. Department of Housing and Urban Development (HUD) "Foreclosure Acquisition Program -II".  On April 18, 2011, City Council approved a second program which authorized the City to acquire foreclosed homes within city limits, rehabilitate and resell the home to income qualifying households (at or below 80% of the area median income). 

Please note that in order to qualify to purchase one of the City’s homes, applicants must attend eight (8) hours of home counseling (free to applicant) through Community Service Employment Training, Inc. (CSET); provide proof of income to meet requirements; complete a City of Visalia FAP-II Home Purchase Agreement and Application, and accept a 15-year Affordability Covenant on the home purchased.  The City is currently acquiring homes, please check back for further updates regarding available homes.  See our “
FAP-II Fact Sheet” for more information about this program.   See our FAP-II Policies herein without attachments.

Neighborhood Stabilization Program (NSP)
The City of Visalia is proud to share with you an opportunity to purchase a refurbished home through the U.S. Department of Housing and Urban Development (HUD) Neighborhood Stabilization Program- (NSP) Foreclosure Acquisition Program".  In September 2008, the City of Visalia was awarded a $2.3 million Community Development Block Grant (CDBG) to acquire, rehabilitate and resell foreclosed homes. 

The homes have been purchased in 
Targeted Neighborhoods through local realtor representatives.  Most recently, the Targeted Neighborhood boundaries were expanded as reflected in the attached map.  The City is currently purchasing and rehabilitating homes. Please continue to check our website for up to date information regarding our homes.  See our “NSP Fact Sheet” and "NSP policies" for more information about this program.

Please note that in order to qualify to purchase one of the City’s homes, applicants must attend eight (8) hours of home counseling (free to applicant) through Self Help Enterprises; provide proof of income to meet requirements; complete a City of Visalia NSP Home Purchase Agreement and Application, and accept a 15-year Affordability Covenant on the home purchased and household income shall not exceed 50% of the area median income. 

We welcome your questions on this program so please call Rhonda Haynes, Housing Specialist, at 713-4460 or email at
rhaynes@ci.visalia.ca.us with any questions. We look forward to assisting you in the purchase of one of our homes.


Habitat for Humanity Neighborhood Stabilization Program (NSP)
The City of Visalia is also working with Habitat for Humanity of Tulare County with NSP funding. Habitat for Humanity of Tulare County is acquiring foreclosed homes within Visalia’s NSP Target Area, rehabilitating and reselling to income qualifying households (at or below 50% of the area median income). You may contact Habitat for Humanity of Tulare County for more information about their homes:

Habitat for Humanity of Tulare County (559) 734-4040

These programs enables the City to revitalize neighborhoods, rehabilitate foreclosed homes, employ local contractors, and resell homes to pre-qualified buyers with fixed rate mortgages.  

We welcome your questions on these programs so please contact Rhonda Haynes, Housing Specialist, at (559) 713-4460 or email at
rhaynes@ci.visalia.ca.us.  We look forward to assisting you in the purchase of one of our homes.

City of Visalia Charter

Photo of a City purchased foreclosure "before"
 

Photo of a City purchased foreclosure "after"
 
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