the gates by City Ventures
7 moderate-income 3-bedroom, 3 Bath homes
Program Documents & Disclosures
Resale Restriction, Excess Sales Proceeds Note, and Deed of Trust
This program requires you to sign a Restriction Agreement with a 45-year term.
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.
If you missed the Entry deadline, you may still enter and upload your supporting documents in case we need back up applicants.
OPPORTUNITY DRAWING #787
One Unit
18485 Azul Ln. Unit 8, Building 2
3 Bedrooms / 3 Bathrooms
Approx. 1959 Sq Ft
Sales Price: $570,615
Monthly HOA: Estimated $479.55 (approx)
Full Hazard Insurance Required
Property Taxes: $594.39 (Estimated)
Special Taxes: Estimated $9.98/month ($119.76 per year)
Property Designated Income Category: Up to Moderate
Occupancy: Min Household 2, Max 7 people (owners will be required to occupy the property)
Resale Restriction Terms: 45 Years (Review the documents)
First-Time Home Buyer Requirement: Yes (see guidelines for the definition)
Please refer to the ODN (Right) for additional information
IMPORTANT DEADLINES
Drawing release Date: 4/3/2026
All deadlines are Standard Pacific Time by 5:00:00pm
Deadline to Enter Drawing: 4/21/2026 5:00:00pm
Deadline to select City Preferences: 4/21/2026 5:00 pm
Results Published: 4/28/2026 after 5 pm
File Submission Deadline: 5/5/2026 5:00 pm
Estimated minimum household income: $138,834
Estimated Cost Breakdown
Interest may change; speak to your Loan Officer. Also, check with the County Tax Assessor for additional taxes that may not be reflected here.
City Preferences
Applicants must select the City Preferences by the Drawing Entry deadline and submit proof they meet them by the File Submission Deadline. The Final Ranking number is subject to change after preferences are verified. Applicants cannot adjust their City Preference Tiers/Points after the Drawing Entry Deadline. Preference Tiers/Point adjustments or corrections by the applicant after the Drawing Entry Deadline will not be considered. The Preference will be invalidated if supporting documents are not submitted on time or if insufficient proof is submitted.
Drawing Results
Final Ranking Numbers will change as we move down the list when we audit and underwrite the claimed preferences/points until an eligible buyer has been identified. Please log in to your account at www.myhousekeys.com to find the updated Final Ranking numbers based on our findings during the application process. They will continue to be updated as we move down the list. Rest assured that the Initial Ranking Numbers, aka lottery numbers, will not change. Note: You will not have a ranking number if you entered the drawing after the drawing entry deadline
RESOURCES
Register for HUD Approved 1st Time Homebuyer course
Lender List and Forms: Click Here
