How does this Program Work?
Prospective Buyers get on the Applicant List
HouseKeys manages the applicant pool through its online platform at www.myhousekeys.com. Prospective Buyers create an account on the site and “Request and Receive” an Application I.D. It’s important that prospective buyers review the City’s Program Preferences to see how applicants are prioritized. Go to THIS PAGE to see how to build a homebuyer file.
Obtain a Pre-approval from an Approved Loan Officer
Lottery is held to determine the Selection Order for Prospective Buyers. City Preferences are applied to final ranking.
Prospective Buyers File and Supporting Documents are reviewed to Confirm Program Eligibility
Selected Buyers Sign a Purchase Agreement and a Restriction Agreement
For Acorn Commons: The buyers will be required to review, understand and agree to with the BMR Program documents and restrictions. Please ensure you and your loan officer/lender review the documents carefully. Feel free to hire an attorney to help you understand them and to ensure this is the type of program you are willing to follow and participate in.
Watch Intro Videos & Take Quiz
These 8 short videos will help you understand how affordable housing works, key terminology, and the affordable home buying process. We encourage you to “Take the Quiz” to confirm that you understand the concepts and the process.
Disclaimer: HouseKeys Orientation ZOOM Webinars provide general information only and may be subject to change at any time without notice. HouseKeys Orientation ZOOM Webinars do not constitute financial advice. You should obtain independent advice before making any financial decisions. HouseKeys Inc. does not give any warranty or representation as to the accuracy, reliability or completeness of the information. To the extent permitted by law, HouseKeys Inc. and its employees, shall not be liable for any loss or damage arising in any way (including by way of negligence) from or in connection with any information provided or omitted or from any one acting or refraining to act in reliance on this information.
MyHouseKeys
MyHouseKeys is our web-based software platform created to help you manage your program relationships, find housing opportunities, and navigate the application process. You start by registering your household profile.
profile Registration Process
When you click on the button to “Register Your Profile, you’ll begin with a quick sign up form that asks: Name, Number of Household Members, Total Household Income, and Zip Code. After you enter and confirm your email address, you will start a Registration Wizard that will have you complete a series of forms. You may want to set aside an hour to complete all of the online forms. These forms include:
Admin Profile - this is the basic information and address for the primary applicant.
Member Profiles - all other household members who will be occupying the housing unit
Income Profile - you’ll identify the type of income that you earn, information about your employer, and your employment details
Household Preference - this form details any special criteria that your household may meet that would allow you to receive preferential treatment among other applicants.
Household Demographics - this is an optional form that allows us to track our Fair Housing statistics
At the end of the process, you’ll get to a page called the Household Overview. This page summarizes all of the information you entered and gives you a chance to review before finalizing
Program Application & Checklist (Including the loan officer list)
Click on the link below to access and download:
Application Exhibits
Application Exhibits are special documents that help provide further details about items that you provided while completing the Program Application and gathering items on the Application Checklist. Click on the links below to open the Exhibit documents.
Program Guides
Note: The guides may be updated from time to time.
City of Scotts Valley Affordable Housing Action Plan Brochure (updated May 2021)
As an applicant, you must complete the steps to create a household profile, obtain an Application I.D. and enter Drawings for the housing opportunity you want. Each housing opportunity is given an Opportunity ID. If you are chosen in the Drawing, then you will submit a full file to be processed and underwritten and the rules are outlined in this guide.
Current BMR Owner Participant Guide (Coming soon)
Once you are a homeowner, you sign a Restriction Agreement that details what you are allowed to do with the home. While the Restriction Agreement on this site is the latest version, there have been many different versions used in the past. The Participation Guide walks through some of the rules on refinancing, re-selling the home, and transfers for inheritance. Please keep in mind that your signed Restriction Agreement is the governing document that ultimately determines what you’re allowed to do.
