3/26/18 UPDATE:

We are still accepting applications on a first come first serve basis.

City (live and work) Preferences have been waived and are no longer taken into consideration.

Update 7/2/18: A mortgage pre-approval letter from an approved loan officer

is required before you can submit this form for to participate. Please see question 39a.

Note: The Pre-Approval letter must be current, and for one of the homes included in this Opportunity.

City Of Morgan Hill

Below Market Rate Home Buyer Program

Opportunity Drawing Submission Form 37.0 - for up to 120% Area Median Income (AMI)

TIME SENSITIVE!

THIS IS A FIRST COME - FIRST SERVE DRAWING WITH WORK AND LIVE PREFERENCES. (UPDATE 6/29/18: PREFERENCES WAIVED!)

Please read the Opportunity Drawing Method and Terms for the Buyer Selection below.

If you are in a lower income bracket please let us know why you think you can qualify in the note section at the bottom of form.

120% AMI Maximum Income Limits for 2018

Household of 1 - $105,200

Household of 2 - $120,200

Household of 3 - $135,250

Household of 4 - $150,250

Household of 5 - $162,250

3/26/18 UPDATE:

We are still accepting applications on a first come first serve basis.

City (live and work) Preferences have been waived and are no longer taken into consideration.

--------------------------------------

1st Preference: Households that live and/or work in the City of Morgan Hill (please see the BMR application Exhibit J for more details).

DEADLINE and Opportunity Drawing Method: All Opportunity Drawing 37.0 Forms received by March 21, 2018 by 9AM will be organized using the City Preferences (Live or Work in Morgan Hill) and date and time stamp on the Opportunity Drawing Submission Form. Any Opportunity 37.0 Forms received after March 21, 2018 - 9am will be added to the end of the list and assigned a priority/runner up number. If a household does not meet the City preference, they may still apply.

Please read this form completely before filling it our and submitting it. There are rules, disclosures and instructions throughout the form. We highly recommend that you speak to your loan officer to verify if you qualify for a mortgage high enough to purchase this home (with acceptable ratios) before you submit the Opportunity Drawing Form. Your Loan Officer must be approved by HouseKeys to lend on Morgan Hill BMR Properties. If you don't have a loan officer email programs@housekeys.org and we will send you their contact information. You can also find the list at http://www.housekeys.org/mhbuyerinfo

Property Information

Please click on each property link for more information.

Price per home: $460,291.00

Property Type: Townhomes

Size: 2 Bedroom, 2.5 Bath

HOA (monthly): $300.00

Area Median Income: up to 120%

Homeowners HO6 insurance: $40.00

Deed Restriction Term: 45 Years

There are Two (2) Properties in this Drawing. Each one has a different amount of down payment assistance available (up to). The amounts are not transferable between properties. Your monthly payment could vary depending on the amount of DAP assistance you qualify for and other factors*. HouseKeys will decide how much down payment an applicant qualifies for. There is a 1.5% Origination fee on the Down Payment assistance amounts. The interest rate on the down payment assistance loan is 3% simple, deferred for 30 years. - Please request the note for additional information.

Address: 18411 Jade Lane, Morgan Hill 95037 is Opportunity #1-1-Own-Opp-2018-59 - For more info CLICK HERE

City of Morgan Hill Down Payment Assistance: Up to $30,000.00

Monthly Estimated Payment $3119.30 with DAP and ($3,284.00 without DAP*)

Address: 18413 Ruby Lane, Morgan Hill 95037 is Opportunity #1-1-Own-Opp-2018-60 - For more info CLICK HERE

City of Morgan Hill Down Payment Assistance (DAP): Up to $60,000.00
Monthly Estimated Payment: $2953.64 with DAP (and $3,284.00 without DAP*)

Please click on each of the links below. Make sure to carefully review and understand

the initial disclosures, program rules and BMR documents.

Do you certify that you (all applicants) clicked on all the above links, carefully reviewed and agree with all the rules and disclosures?*

Yes, I/we do

Alll applicants must review and agree

Applicants will not be automatically entered into the Opportunity Drawing/Lottery unless this form is completely filled out and submitted. Please review all the information on our website for additional program information, deadlines and requirements.

INITIAL REQUIREMENTS

1. Total Household annual gross income must not exceed 120% AMI

2. Must have a BMR Application ID Number issued by HouseKeys for the Morgan Hill BMR Program

3. Applicants must have the funds and financing needed to afford and qualify for the home (speak to your loan officer) The loan officer must be approved by HouseKeys.

4. Must be a First Time Homebuyer* (not have owned a home in the last 3 years)

5. Your credit score must be a minimum of 620 (we use the middle score - in the case of more than one applicant, we use the lowest middle score of all the applicants)

6. All applicants, spouses, partners, co-applicants, and additional co-applicants must have attended the Home Buyer Orientation hosted by HouseKeys for the City which you are applying for BEFORE submitting this form.

If you do not meet ALL 6 requirements, you are not eligible to participate in this Drawing/Lottery. Please visit our website http://www.housekeys.org/morganhill to prepare yourself for future Drawings/Lotteries.

* See the Program Buyer Eligibility Guide and our website for more information.

If you don't have an application ID Number please go to https://www.myhousekeys.com/ to obtain one. After you complete the wizards, you will be able to access the "File Cabinet" and "Program Center" tab to request an Application ID and receive it immediately.

1. BMR Application ID Number

Please use your NEW Application ID Number

2. Do you have a Co-Applicant?*

Yes No

Preferences: First preference is the top preference in this Opportunity. If you meet more than one preference, select the best one.

3. I/we ( the applicants or co-applicants), certify that I/we met meet the following preference:

First Preference - I/We are existing residents of City Of Morgan Hill and have been for the last 6 months. First Preference - I/We are employed within (inside) the city limits of the City of Morgan Hill and have been for the past 6 months. I/We do not meet any of the Preferences. (note you may still apply for this Opportunity)

*Only applicants and co-applicants who will be listed on title as owners can apply for consideration for a "Preferences". Please select the appropriate one , we will verify information.

4. Before you proceed, do you have at least $13,809.00 + closing cost? (This is estimated)*

Yes No

Although the program only requires at least 3% downpayment (buyers own funds), you may need more than 3% of the purchase price for down payment and more than 3% of the purchase price for closing costs to close the transaction if selected. This is true, especially for smaller households where the maximum income limit may be lower than the income needed to qualify for a mortgage high enough to purchase the property with acceptable debt to income ratios. It's also true for households in the lower AMI % ranges and/or that have high monthly debt. The lenders may require at least 5% downpayment or more depending on the type of first mortgage (i.e. non-conforming loans, jumbo loans, etc.)

5. Before you proceed, please review the estimated monthly payments listed below. Please check the boxes of the ones you can afford:*

18411 Jade Lane - $3,119.30 with DAP and ($3,284.00 without DAP*) 18413 Ruby Lane - $2,953.64 with DAP (and $3,284.00 without DAP*) No, we can't afford the payment on this form but we have contacted our loan officer and he/she has confirmed we can afford this purchase price with ratios no greater than 40/45%

DAP is Down Payment Assistance. The estimated monthly payment can vary depending on the interest rate, buyers funds, 1st Mortgage and DAP amount, Insurance amount, etc. Please speak to your loan officer for a more approximate payment. In addition, you may be required to pay monthly mortgage insurance.

5a.Please select your first choice*

18411 Jade Lane 18413 Ruby Lane

5b. Please select your second choice*

18411 Jade Lane 18413 Ruby Lane

6. Applicant Name*

First Name

Last Name

7. Applicant's Date of Birth:*

We will use the applicant's email address to communicate with you regarding this lottery if needed. If it changes, it's your responsibility to email programs@housekeys.org right away. The applicant you list on this form is responsible to share the notices or emails we send with the co-applicants. Thank you.

8. Applicant's Email*

9. Applicant's Phone*

10. Applicant: What is your relationship to the CO-Applicant -*

Example: daughter, son, sibling, spouse, partner, friend, etc

11. Applicant - What is your marital status? (If you are married, list your Spouse's name in this box too)

NOTE: A non-borrowing spouse/partner needs to be on Title, the 1st Mortgage DOT, the Excess Sales Note, the Excess Sales DOT and the Restrictions. A non-borrowing spouse/partner needs to sign the 1st mortgage note. The non-borrowing spouse/partner needs to be on all the down payment documents, if any. The City requires the Program Administrator to count the non-borrowing spouse/partner debt and include it in the ratios even if the 1st mortgage lender does not. Applicants are not allowed to have tax debt or any liens. A credit report is required for the non-borrowing spouse/partner.

12. SELECT the date the Applicant attended a HouseKeys Home Buyer Orientation

13. Co Applicant Name*

First Name

Last Name

14. Co-applicant's Date of Birth*

15. Co-Applicant's Email*

16. Co-Applicant's Phone*

17. Co-applicant: What is your relationship to the Applicant?*

Example: daughter, son, sibling, spouse, partner, friend, etc

18. Co-applicant - What is your marital status? (If you are married, list your Spouse's name in this box too)

19. SELECT the date the Co-applicant attended a HouseKeys Home Buyer Orientation:

20. Do you have an Additional Co-Applicant? In other words, 3 people applying to be listed as owners of the home.*

Yes No

21. ADDITIONAL Co-Applicant Name*

First Name

Last Name

22. ADDITIONAL Co-Applicant Date of Birth:*

23. ADDITIONAL Co-Applicant's Email:*

24. ADDITIONAL Co-Applicant's Phone*

25. ADDITIONAL Co-applicant: What is your relationship to the Applicant?*

Example: daughter, son, sibling, spouse, partner, friend, etc

26. ADDITIONAL Co-applicant - What is your marital status? (If you are married, list your Spouse's name in this box too)

27. ADDITIONAL Co-Applicant: SELECT the date attended a HouseKeys Home Buyer Orientation:

28. Enter your HOUSEHOLD'S addresss:*

Address Line 1

Address Line 2

City

State

ZIP Code

29. Total Household Size*

Total number of people, including yourself, that are currently part of your household and will live in the BMR home if selected and found eligible. Please do not include foster children or unborn babies

30. How many adults (18 and over) are in your household including yourself?*

31. Who are the ADULT members of your household: List their first and Last names*

List all adults in the household, including yourself.

32. How many children (under 18) are in your household?*

Do not include foster children or unborn babies.

33. Who are the members of your household that are younger than 18 years old: List the childrens' first and last names: (if you don't have children, type "NONE")*

List all the children in your household under 18. Do not include unborn babies or foster children.

34. What is your Household's Projected Annual Eligibility Income (include all income earned by all household members 18 years and older)* $

Please include ALL Gross household income. This is income projected to be earned in the next 12 months; it is NOT averaged. Gross Income is total income before taking out any taxes and any type of deductions. Example: Wages, Bonuses, Over Time, Tips, Cash Tips, Social Security, Retirement Pensions, Child/Spousal Support, Unemployment, Disability Insurance, Worker’s Compensation, Contributions, Cash Gifts, Child Care, Royalties, ANY other type of income. For Self-Employment list your approximate income; your tax forms and Year to Date Profit and Loss Statement will be examined by HouseKeys.

Using the income limits below, your household size, and your Household's Projected Annual Eligibility Income please determine if you make less than the amounts provided. For example, if you are a household composed of 3 people, and your Household's Projected Annual Eligibility Income is at or less than $135,250 - then you are in the 120% AMI range. If you make more than $135,250, you are over 120% AMI and don't qualify for this Opportunity Drawing/Lottery.

Note: In addition to your gross income, the BMR Underwriter will calculate your "asset income" and add it to your total gross income. The BMR underwriter will calculate your income and asset income if you are selected for review AFTER the Opportunity Drawing/Lottery is held.

120% AMI Maximum Income Limits for 2018

Household of 1 - $105,200

Household of 2 - $120,200

Household of 3 - $135,250

Household of 4 - $150,250

Household of 5 - $162,250

35. Using your Household's Projected Annual Eligibility Income, please Self Certify your AMI (Area Median Income)*

120% AMI or less Higher than 120% AMI - DO NOT SUBMIT FORM -You are not eligible to participate in this Opportunity/Lottery for this property.

If your income is above 120% AMI, you are not eligible.

36. List the names of all the people who will be applying for a loan to purchase the home*

37. What is the total ANNUAL QUALIFYING INCOME of the person(s) that is/are applying for the first mortgage loan to purchase the home (do not include the income of household members that are not applying for the loan to purchase the home)?* $

Qualifying Income is usually averaged over the last two years and not projected for the next 12 months. If you are unsure, your Loan Officer can help you with this amount.

38. Who is your First Mortgage Loan Officer?*

John Norgard Omar Prieto Janene Towner-Chernoff Jayson Stebbins Jim Thielmann Misty Leonard

(If you are not working with one, please email programs@housekeys.org and request the Approved Loan Officer list with their contact information or go to http://www.housekeys.org/mhbuyerinfo )

39. I/we am/are pre-approved for a First Mortgage Loan amount of:* $

You should already have a pre-approval per the instructions we give at the orientation. If you don't have this information, please speak to your loan officer.

The loan pre-approval must come from one of the loan officers on this list: List of approved loan officers

39a. Please upload a copy of your Loan Pre-approval to demonstrate you are pre-approved to purchase a home in THIS Opportunity*

No File Chosen

File uploads may not work on some mobile devices.

If you have any questions please email programs@housekeys.org

FUNDS NEEDED CLAUSE:

To see if you have enough funds for the down payment and closing cost, please speak to your loan officer to see if you can afford this opportunity. Although the BMR Program only requires 3% of the purchase price for down payment, you may need more than 5% of the purchase price between down payment and closing costs. This is true, especially for smaller households where the maximum income limit may be lower than the income needed to qualify for a mortgage high enough to purchase the property with acceptable debt to income ratios. It's also true for households in the lower AMI % ranges and/or that have high monthly debt. Even if we only require 3%, the lender may require more for certain loan products.

BUYER'S OWN FUNDS: Applicants must use at least 3% of the purchase price of their own seasoned funds (seasoned for 6 months) from their own accounts towards the transaction (not a loan, gift or grant).

Note: For homes in the 120% AMI range, you may have to contribute at least 5% down payment and closing costs.

40. I/we have the following amount ($) available for down payment and closing costs (including reliable gifts):* $

IMPORTANT: These funds should be liquid. Contingent sales are NOT accepted.

41. The funds I/we will be using for down payment and closing costs is in the following forms or accounts:*

My/Our Checking and/or savings accounts Gift (must be able to provide gift letter and the donor’s bank statements with sufficient funds to cover the gift with the BMR application Package) I/we will withdraw funds from my retirement account(s)

3% of the purchase price going towards downpayment must come from the buyer own seasoned funds and should not be a gift, grant or loan.

When answering this question, please think about your CURRENT obligations (DO NOT include the housing payment for the BMR home). On the box below please enter the total minimum required monthly debts that the applicants have to pay. Only include payments that would be reflected on the applicant's and co-applicant's credit report such as credit card debt, child support payments, car payments, student loans, etc. Please DO NOT include: the new housing payment, rent, utility bills, cell phone bills, etc. If you don't know, ask your loan officer for the total monthly amount he is using in your loan application. For example: $200 car payment, $30 credit cards, $50 student loans = $280 (Your debts are different than this example)

42. The (minimum) monthly debt that I/we (the borrower(s)) have to pay is:* $

If you don't know this amouont, speak to your loan officer. They can tell you the amount they are using on the loan application you have with them.

43. Applicant: What is your credit Score?*

If you don't know, you can ask your loan officer.

44. Co-Applicant: What is your credit Score?*

If you don't know, you can ask your loan officer.

45. ADDITIONAL Co-Applicant: What is your credit Score?*

If you don't know, you can ask your loan officer.

The following questions, must be filled out completely. Please make sure to type the company name on the first line, then the address. If you are self-employed, write your company name and "Self Employed" then your company's address. Thank you.

46. Primary Applicant Employer's Name and Address:*

Address Line 1

Address Line 2

City

State

ZIP Code

47. Applicant: What is your occupation?*

Example: Retired, Teacher, Chef, Accountant, Etc.

48. Co-Applicant Employer's Name and Address:

Address Line 1

Address Line 2

City

State

ZIP Code

49. Co-Applicant: What is your occupation?*

Example: Retired, Teacher, Chef, Accountant, Etc.

50. ADDITIONAL Co-Applicant Employer's Name and Address:

Address Line 1

Address Line 2

City

State

ZIP Code

51. ADDITIONAL Co-Applicant: What is your occupation?*

Example: Retired, Teacher, Chef, Accountant, Etc.

52. Which statement best describes your household?*

At least one applicant works in Morgan Hill I/we don't work in Morgan Hill

We are refering to the applicant, co-applicant or Additional Co-applicant - not household members

If there is a reason why you believe you should submit this lottery form even though you don't meet the requirements or information disclosed on this form, please give us a detailed explanation below: (documentation to substantiate your explanation will be requested and must be submitted before the lottery deadline)

By checking the boxes you (all applicants) are indicating you understand and agree with all that is mentioned on this Lottery/Drawing Application Form.*

I/we understand that it's our (the applicant's) responsibility to review all disclosures and rules that apply (opt in) each time an opportunity/lottery/drawing is available, by the deadlines, by filling out the appropriate form(s) on the HouseKeys website. In order to find out when the next opportunity/lottery/drawing is available and fill out the appropriate forms, we (the applicants) must check the websie www.housekeys.org/morganhill frequently and follow the instructions and terms posted for each one. We also understand the rules and term for each opportunity/lottery/drawing may vary and may not be eligible for to particpate in all of them.

Certifications

By checking this box, I/we certify under penalty of perjury that all of the information stated on this Opportunity/Lottery Submission Form is true, accurate and complete. I/we have made no misrepresenting, nor did I/we omit any pertinent information. I/we also cettify that I/we have no additional income or household members living in or contributing to my/our household other than those described on this Opportunity/Lottery submisson Form and/or BMR application. I/we understand that if any conflicting, inaccurate or false information is found in the Opportunity/Lottery Submission Form and/or Program Application, the I/we will be deemed ineligible to participate in the BMR program. I/we are aware that there are penalties for willfully and knowing giving false information. I understand that the information is subject to verification at any point in time. Penalties for falsifying information may include repayment of all Federal and State Funds recieved (if any) and/or prosecution under law. Also, we/I understand that any inaccurate or conflicting information may result in disqualificatiion from this and any future BMR Program or opportunities and a violation of the deed restrictions that we/I will need to sign if we/I are selected to purchase a BMR home managed by/through HOUSEKEYS. In addition, with my/our signatures (and/or electronic signatures) on this form, we validate and authenticate the Authorization to Release information portion below.

Authorization to Release Information: To Whom it May Concern:*

1. I/We have applied for the BMR Program through HouseKeys. As part of the BMR process, HouseKeys may verify information contained in my/our Lottery Submission Form and/or my/our BMR Homeownership Program Application and in other documents required in connection with this program for program eligibility to purchase a Below Market Rate home or as a part of its quality control program. 2. I/We authorize you, my/our/the Employer, Lender, Landlord, IRS, City, Title Company, Etc. to provide HouseKeys and to any City/County or down payment program in connection with my/our application for the purchase of a BMR home, any and all information and documentation that they may request. Such information includes, but is not limited to, employment history and income, bank, money market and similar account balances; credit history, and copies of income tax returns. 3. We authorize HouseKeys and the City to share and obtain our information and documentation with and from our Loan Officer and Mortgage Lender, NeighborWorks, HUD, Down Payment Assistance Programs/Agencies and Funding Programs or Funding Sources. 4. By checking this box and/or our signatures, I/we authorize HouseKeys to release and share my/our information with the City of Morgan Hill, Other First Time Homebuyer Programs, Funders, Down Payment Assistance Programs, First Mortgage Lenders, NeighborWorks of America and HUD. This form can be accepted as an original authorization and original signature(s) from all applicants and co-applicants. 5. I/We understand and agree that HouseKeys reserves the right to verify information provided on our Lottery Submission Form and/or BMR Homeownership Program Application with the my/our employer, previous employers and/or financial institutions and other agencies as applicable. 6. A copy of this authorization may be accepted as an original

Applicant Signature*

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Use your mouse or finger to draw your signature above

Co-Applicant Signature (if no co-applicant, please write "n/a")*

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Use your mouse or finger to draw your signature above

ADDITIONAL Co-Applicant Signature (if no additional co-applicant, please write "n/a"*

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IMPORTANT: HOUSEKEYS HOME BUYER ORIENTATION REQUIREMENT All applicants, co-applicants, married couples, partners, domestic partners and anyone who can or will be on title are required to attend the HouseKeys Home Buyer Orientation for the City which you are applying for BEFORE being eligible to apply for this Opportunity Drawing. If you do not meet this requirement, you will be denied. Example: If the applicant attended but the co-applicant(s) has/have not attended, you are not eligible to participate in this Lottery. This applies to non-borrowing spouses/partners too.*

Yes, I/we understand and agree

WARNING! USE CAUTION!

OPT OUT CLAUSE

Please read this BEFORE you click the “Submit” button below.

Applicants can't actively participate in more than one Opportunity Drawing/Lottery at a time.

If you submit THIS form, ALL your previous Opportunity Drawing/ Lottery Forms will be null and void IMMEDIATELY.

By clicking on the “SUBMIT” button below you are officially OPTING OUT (withdrawing) your Application ID from ALL the Opportunities you have entered prior to this one.

By Submitting this form, you understand and acknowledge that ALL your Priority Numbers and Runner Up Numbers will be null and void immediately.

A new priority number will be assigned to you for this Opportunity.

Did all the all applicants read, understand and agree with the OPT OUT Clause?*

Yes, I/we (all applicants) certify that I/we read and understand the OPT OUT Clause. I/we understand that ALL our previous Opportunty Drawing Forms, Priority and Runner Up Numbers are null and void immediately by clicking the "Submit" button on this form.

A new priority number will be assigned for this opportunity

Please make sure you read and understand all the information on this form BEFORE you press "Submit Form". Once you submit this form, please check your email folders for an email from us with instructions.

Did you review all your answers? Thank you!