Folsom Affordable Housing Program

Folsom Affordable Housing Program

Available Home(s):


1400 Moon Circle, Folsom, CA 95630

***Max Household Size is 2***

***Low income is at/under 68,600***

Do not book a slot if you do not qualify for low income. Claiming more than 1 slot will result in disqualification. There is no way around these qualifications, you must be considered low income to qualify for this listing. Low income qualifications are below.

In 2002, the City of Folsom implemented an Inclusionary Housing Program. Because of this program, there are 100 Deed Restricted Units (both condominiums and single-family homes) in the city. When these homes go on the market, they must be sold at an affordable rate to income-qualifying buyers. NeighborWorks Sacramento partners with the City of Folsom to certify the income of potential buyers of these units. We update our listings as soon as properties come available, so please check back frequently for new properties!

All Deed Restricted properties that are currently available are listed below. If you are interested in purchasing an available property, please contact the listing agent. Each Deed Restricted Unit has a maximum income threshold. Your household must fall under this threshold to qualify to purchase the unit, and the listing agent will have the information on the income thresholds.

If you believe you will qualify, you will need to schedule an income certification appointment with NeighborWorks. Please refer to the “Income Certification Process” below for instructions.

DO I QUALIFY FOR LOW INCOME (80%)?

Low Income (80%) FY 2023 Income Limit for Sacramento, Roseville, and Arden is 60,050 for (1) person family, 68,600 for (2) person family, 77,200 for (3) person family, 85,750 for (4) person family, 92,650 for (5) person family, 99,500 for (6) person family, 106,350 for (7) person family, and 113,200 for (8) person family.

STEP 1 - SIGN UP FOR A FOLSOM INCOME CERTIFICATION APPOINTMENT

To sign up for an appointment, please use the booking calendar above. If there are no spots on the calendar, that means we are fully booked for the given listing. We cannot schedule these appointments through our front desk. Please do not call or email us regarding these listings, whether you have an appointment or not. We will reach out to you once your booking has been confirmed through the above calendar. Each property has a limited number of appointments.

STEP 2 - DOCUMENT SIGNING

YOU MUST PROVIDE ALL REQUESTED DOCUMENTS 24 HOURS BEFORE THE APPOINTMENT OR IT WILL BE CANCELED.

Contact your real estate agent for assistance. Gather and scan all the documents listed below and e-mail them to slewis@nwsac.org. Please submit all of the following documents:

•Income certification questionnaire – completed by all applicants

•Most recent 3 months’ proof of income from all household members over 18 including all sources – pay stubs, social security, retirement, pension, etc.

•Last 2 year’s W-2s and tax returns

•Most recent 3 months’ bank statements from all bank accounts – must show adequate funds for the purchase if making a cash offer

•Most recent 3 months’ investment statements from all accounts – stocks, bonds, money market, CDs, etc.

•Pre-approval letter from lender – if financing the purchase

STEP 3 - ATTEND THE APPOINTMENT

A homeowner of a Deed Restricted Unit may be eligible to rent their home. The homeowner must contact the City of Folsom to find out if they are allowed to rent out their unit – this is determined by the type of assistance that was received from the City of Folsom. If the homeowner is permitted to rent their unit, they must locate a renter whose income is equal to or less than their designation for their Deed Restricted Unit. The City of Folsom must be contacted to start the rental process. Once the homeowner finds a potential renter, the potential renter needs to contact NeighborWorks® Sacramento to schedule an income certification appointment. This can only be scheduled over the phone or in person at NeighborWorks® Sacramento, online sign up isn’t available for rental income certification appointments. For more information regarding renting a Deed Restricted Unit, please review the Program Guidelines for this program.

Required Paperwork for the Rental Income Certification:

•Copies of the last 2 years’ federal income tax returns,

•Most recent 3 months’ pay statements,

•Proof of any other form of income,

•Most recent 3 months’ savings, checking, and investment statements,

•Picture ID

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