Townhouse - Baldwin Park, CA

The City desires to assist persons and families of moderate income to purchase residential property and to increase, improve, and preserve moderate income housing available at affordable housing costs within the territorial jurisdiction of the City. Moderate Income participant(s) will purchase the Property from the Seller for less than fair market value. Moderate Income Chart: 1 Persons in Household limit $64,900, 2 Persons in Household limit $74,200, 3 Persons in Household limit $83,500, 4 Persons in Household limit $92,750, 5 Persons in Household limit $100,150. Affordable housing cost shall not be less than 28 percent of the gross income of the household, nor exceed the 35 percent. Assumption Agreement: The property was initially built with the assistance of density bonuses provided by the City of Baldwin Park (referred to as \u00e2\u0080\u009cCity\u00e2\u0080\u009d) and is restricted to affordable housing for persons or families of moderate-income. An agreement Containing Covenants Affecting Real Property (referred to as the \u00e2\u0080\u009cAgreement\u00e2\u0080\u009d) has been placed on title to the Property. This document restricts the resale and occupancy of the Property until April 24th, 2043. Restrictions are: Property sold only to another moderate-income household. Eligible buyer must be certified by the City. Property must be principal residence. No Renting is permitted. Watch Video https:\/\/youtu.be\/0PQ_434CB9Q