The home(s) listed below represent another component of the City of Roseville Affordable Purchase Housing Program. Initially, these homes were sold to income-qualified purchasers which included a silent second loan to ensure the affordability of the home for the buyers. As a condition of the Affordable Purchase Housing Agreement between the original home developer and the City of Roseville, Affordable Purchase homeowner's are obligated to notify the City in writing of their intent to sell their affordable home. Upon written notification of desire to sell these homes, the City of Roseville may qualify another buyer to purchase the home. 

A maximum of $75,000 is available as down payment assistance to income qualified buyers for Low Income Restricted properties.  A maximum of $50,000 is available as down payment assistance to income qualified buyers for Middle Income Restricted properties.  The loans are in the form of a silent second mortgage to assist with the purchase of the home. Currently, the maximum income limits for eligibility for the Resale program are as follows:

Low Income Restricted Properties
1-2 person household cannot exceed gross annual income of $66,900
3+ person household cannot exceed gross annual income of $77,650

Middle Income Restricted Properties
1-2 person household cannot exceed gross annual income of $83,600
3+ person household cannot exceed gross annual income of $97,000

In order to determine if a buyer qualifies for an Affordable Purchase Resale, home buyers must begin with contacting a lender to determine the maximum first mortgage amount which is based on the buyer's annual income and assets.  The lender will determine if the buyer can afford to purchase the affordable resale home based on the maximum first mortgage amount, the amount of down payment assistance available from the City of Roseville, and any cash a buyer has for a down payment. Buyers must contribute a minimum of 1% of the purchase price as a down payment to purchase an Affordable Purchase Resale home.  Sales prices for Affordable Purchase Resale homes are negotiable with the seller.  An appraisal will be required by the City of Roseville if the home sells to another affordable buyer.

The City of Roseville Housing Division will work with the chosen lenders to qualify buyers for the Affordable Purchase Resale Program.  The $50,000 silent second loan will have a 2% simple interest rate.  The note will be due and payable upon sale of the property, change of use, unapproved refinance or change of ownership.

The Affordable Purchase Resale Guidelines are as follows:

-     The City of Roseville requires complete third party documentation of all household income and assets of all adults that will be living in the home.
-     Housing costs (front end ratio) must be at a minimum of 30% not to exceed 40% of monthly income
-     The first mortgage loan must be a fixed rate loan
-     There are no prepayments penalties for the Affordable Purchase Resale loan
-     The affordable purchaser does not have to be a first time home buyer but If the purchaser owns other residential real estate,
       it must sell and close escrow prior to closing on the purchase of the affordable home.
-     A minimum of 1% of the purchase price is required as a  down payment for an affordable resale purchase
-     City of Roseville silent second loan will have a 2% simple interest rate
-     City of Roseville Affordable Purchase programs do not allow co-signers
-     Affordable Resale buyers must attend eight (8) hours of home buyer training. The cost of the training will be the responsibility of the home buyer. This training must be performed by an accredited home buying counseling agency or lender from the list here.
-  Additional loans through CalHFA may not be paired with the Affordable Purchase Resale Program
-  Lenders can find the Resale Certification and Checklist here

Note to current affordable homeowners:
Please contact the Housing Division as instructed above before listing your home for sale.  Depending on the market value of the home when you purchased and the liens on your property, the current market value may not be adequate to pay off all of your outstanding loans.  The City of Roseville does not accept Short Sales, whereby the City would accept less than what is owed on the City loans, unless the affordable property is in imminent foreclosure status [i.e. recorded Notice of Default].  For the first sixty (60)* days the home is listed on both MLS and the City's Affordable Resale page, the home must be sold to another income-qualified purchaser. *some communities require 120 days.

There are no resale properties at this time. Check back in to this site for new listings.

Please contact the City of Roseville Housing Division at (916) 774-5270 or email at
housing@roseville.ca.us for details about funding availability and additional information.