As part of the Neighborhood Stabilization Program of Alameda County this  3-bedroom, 2 bath with attached garage beautifully renovated price to sell home in Union City will be offered to qualified moderate income buyers who will owner occupy the property.

HomeBricks

HomeBricks makes it easier to advance to homeownership by assisting families in their completion and understanding of the application and qualification process for the Alameda County NSP Homeownership Program. To make sure we keep in contact with you, please register here on the HomeBricks website. If you would like to take a tour of 241 Teddy Drive call or email:

Theresa Marquez with Re/Max Real Estate Services
(510) 300-4266
theresamarquez@sbcglobal.net

The following is a breakdown of the home offered at 241 Teddy Drive, Union City:

To qualify for this program: your household income must be UNDER the income limits in the chart below.

All Offers should have a starting purchase price of $285,000 or more and should include a pre-qualification letter from a lender.

Please note: Buyers will be required to decide between two options in exchange for purchasing this affordably priced NSP Home

Option 1: Buyers can receive NSP funds of up to 3% of the purchase price to be used for mortgage assistance. NSP funds cannot exceed the amount of funds provided by the buyer. The loan has a 3% deferred interest rate and 30 year term. The outstanding princiapal and interest becomes forgivable in year 21 by 10% per year.

Option 2: Buyers enter into a resale agreement that requires the buyer to re-sell the property to another homeowner at or below 120% Area Median Income. Agreement will be in place for 15 years.

If you have not yet registered with HomeBricks to receive information about this and other affordable homeownership opportunities, please do so by visiting our registration page here.