COMING SOON!

Rosewood by Brookfield Residential

9 Four-Bedroom Moderate Homes - $TBD (HOA Dues: $439.68/month)

Information & Announcements

Rosewood is bringing charming two-story duet homes and attached three-story townhomes to a charismatic location that checks all your boxes. Take your pick of two neighborhood collections and relish four bedrooms and up to 2,340 square feet of living space. And a colorful, curated downtown is just around the corner, with unique boutiques, plenty of places to eat and a Caltrain Station for all your out-of-town adventures. Savor award-winning wines and panoramic views at vineyards surrounding the community or catch rushing waterfalls and majestic coastal redwoods at the many parks nearby. With the homes you want, the space you need and the connectivity you crave, Rosewood is your starting point for an exciting new chapter.

The minimum “INITIAL FILE” for review is due at drawing entry, in order to be ranked, and is comprised of the following documents…

1. HouseKeys Program Application, specific to the project and opportunity

2. Loan Pre-Approval Documentation from a Registered Lender. Pre-approvals by an unregistered lender will not be accepted, delaying your review process.

3. Exhibit E - Preference Form and Supporting Documents

   **If you are Self-Employed, submit your last year's Profit and Loss Statement and your Year to Date Profit and Loss Statement (one for each business).

Please Note…Upon timely submission and approval of these initial review documents, you will be ranked and then reviewed in order of ranking, in groups of the number of units available.

Once notified of review, you will need to provide the remainder of the items on the Document Checklist to make your COMPLETE FILE for further review. In order to do so, you can expect to be given a deadline to provide them in order to continue through the process and be considered for the opportunity.

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RESOURCes

Learning Library

Program Documents: Resale Restriction, Excess Sales Proceeds Note, and Deed of Trust

The Resale Restriction limits the price you can resell the house for and the amount of equity it can build. The difference between the home's fair market value and the maximum restricted resale price is known as “Excess Sales Proceeds.” This amount belongs to the program, and the City records a note and deed of trust to protect those proceeds. You are free to hire an attorney to help you understand the program you contractually agree to participate and follow. Among other requirements and responsibilities, you will be required to complete an annual compliance certification, validating that you as the owner are still occupying the property. Renting the property will breach program requirements disqualifying you from the program.

Restriction Term: 45 years

• Resale Restriction Agreement and Option to Purchase (8.25.2023)

• Performance Deed of Trust (6/7/2023)

• Excess Proceeds Note (6/7/2023)

State Income Limits for 2023

• https://www.housekeys.org/s/income-limits-2023.pdf

How to get started and prepare a file: https://www.housekeys.org/buyerfile

This program is for households that meet the “first-time home buyer” definition for the program. See guidelines.