Seagrass by Pulte Homes in Discovery Bay
(Updated Price)
File Confirmation Form - This Drawing is First-file, first-served
information & announcements
Set against more than 1200 miles of delta waterways, you’ll find Seagrass, featuring waterfront new construction homes with the life-tested innovation of Pulte's new home builders. Here you’ll enjoy a selection of one- and two-story homes, easy commutes via major thoroughfares, and access to onsite amenities, plus popular shopping, dining, and recreation options at nearby Discovery Bay and Brentwood.
5 Four-Bedroom Moderate Income Units
$564,362 (HOA Dues: $312/month)
Other costs
Mello Roos amount of $188/mo (Increasing 5% per year)
Solar Cost Estimate (based on Plan 4):
Lease - $267/mo, which includes solar battery
PROGRAM DOCUMENTS & DISCLOSURES
Resale Restriction, Excess Sales Proceeds Note, and Deed of Trust
This program requires you to sign a Restriction Agreement.
Resale Restriction Terms: Restriction terminates at resale; Equity Share
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.
opportunity drawing #560
(5) 4 Bedroom / 2.5 Bathroom
Approx. Sq Ft 2848
Restricted Sales Price: $564,362
Monthly HOA: $312
Mello Roos amount of $188/mo (Increasing 5% per year)
Solar Cost Estimate (based on Plan 4): Lease - $267/mo
Property Designated AMI: 120% - Up to Moderate
Occupancy Standard:
4 Bedroom: Min. 1 / Max. 9
Resale Restriction Terms: Restriction terminates at resale; Equity Share
Please refer to the ODN (Right) for additional information
Note: The Final Ranking number is subject to change after preferences are verified.
Important Deadlines
Initial Drawing Release Date: 1/26/2024
Changed to First File First Served on: 9/26/2024 - Open until all units listed on the Notice (ODN) are filled.
FIRST File FIRST SERVED - SEE the OPPORTUNITY DRAWING NOTICE FOR DETAILS AND INSTRUCTIONS
Ranking Numbers from previous releases are no longer valid. If you entered the drawing you don’t need to enter again; however, you must follow the instructions and submit the documents as noted on the Opportunity Drawing Notice for consideration. Applicants who opted out can submit to participate as a First File First Serve by following the process.
RESOURCES
How-to and Informational Videos
How to get started and prepare a file
Register for HUD Approved 1st Time Homebuyer course
Complete (Full) File Document Checklist
Lender List and Forms: Click Here
Applicants selected to purchase one of these homes must remain qualified for their financing and eligible for the program throughout the application process until they close escrow and get the keys.
opportunity drawing #561 CLOSED
6/27/2024 buyer selected
(1) 4 Bedroom
Approx. Sq Ft 2,105
Restricted Sales Price: $148,617
Monthly HOA: $312
Mello Roos amount of $188/mo (Increasing 5% per year)
Solar Cost Estimate (based on Plan 4): Lease - $267/mo
Property Designated AMI: 80% - Up to Low
Occupancy Standard: Min. 1 / Max. 9
Resale Restriction Terms: Restriction terminates at resale; Equity Share
Please refer to the ODN (Right) for additional information
Important Deadlines
Date Applicants May Start Entering The Drawing: January 26, 2024
Drawing Entry Deadline: Tuesday, April 16, 2024 at 5:00 PM
File Submission Deadline: Tuesday, May 7, 2024 at 5:00 PM
