Income Restricted Units

The following data was compiled to assist in the sale or purchase of an affordable home. The goal of this information is to clarify the process and ensure the requirements are followed in an appropriate and timely manner. The criteria and restriction may vary by development. If you want more information by development/tract go to affordability restriction documents below and criteria required from buyer as noted “What to do if you are a Buyer”.

Important dates to keep in mind:

  • Prior to opening escrow, the seller must submit a complete Notice of Intent to Sell packet (Numbers 1-7 under the “What to do if you are the Seller” section above) to the HACSB.
  • Within 5 days of opening escrow the HACSB should be contacted by either the buyer or the listing agent by submitting the completed signed original Affordable Housing Program Application along with the requested documentation.
  • The HACSB has 35 days from notification that escrow has opened to issue a Certificate of Compliance, provided that all requirements have been met.

Contact

For more information about a listed property, please contact your realtor

If You’re A Seller

When the decision is made to place your home on the market, you must file a letter called a Notice of Intent to Sell with the Affordable Housing Program (City Program). Use the form. The Notice of Intent contains the following information:

  1. State your intent to sell.
  2. Provide the address of the house for sale.
  3. Date escrow closed when current owner purchased the property.
  4. Purchase price at the close of escrow, when current owner purchased property.
  5. The number of bedrooms.
  6. Provide legal names and signatures.
  7. As supporting document of home purchase, attach copy of escrow settlement statement or tax report.

PLEASE BE AWARE THAT ESCROW MUST NOT OPEN UNTIL ALL INFORMATON IS RECEIVED AND FOUND ACCEPTABLE BY THE CITY.

The letter should be sent via mail, hand carried or by email to:

Housing Authority of the City of San Buenaventura
City Program
995 Riverside Street
Ventura, CA 93001

Send By Email To City Programs

What To Do If You Have A Potential Buyer

Sellers or Agents acting for the sellers need to do the following:

  • Screen potential buyers by using the income chart.
  • Make sure the buyer’s income does not exceed the maximum allowable household income limit.
  • Make sure that the buyer is aware of the Affordable Housing Restrictions applicable to the tract.

If You’re A Buyer

The Housing Authority of the City of San Buenaventura maintains a list of interested buyers who want to receive updated information on homes coming available for sale. These interested buyers receive an automatic reply email anytime an update is done to the list of homes available for sale.

Interested buyers may meet the income requirements necessary to purchase an affordable restricted home, however, be aware this is not a guarantee that buyer will qualify for a first trust deed mortgage. Buyer will need to get prequalified with lender to see if they would qualify as well.

If you are interested in having your name placed on a buyer interest list, read the requirements below and complete the Homebuyer Interest Form and you will receive updates anytime new information becomes available on homes.

There are certain steps you need to follow to meet the requirements if you are interested in purchasing an income-restricted unit.

  • Your income must not exceed the Maximum Allowable Household Income Limits
  • Within 5 days of opening escrow the HACSB should be contacted by either the buyer or listing agent and submit the following:
    1. Completed and signed original Affordable Housing Program Application along with requested documentation.
    2. Copy of the signed Purchase Agreement accepted by both seller and buyer.
    3. Provide contact information for Escrow Officer and Lender
  • Within 10 days of opening escrow the buyer needs to submit all required income documentation to the City.

Here is additional important information required to be reviewed for eligibility and final determination:

APPLICATION WILL NOT BE REVIEWED UNTIL ITEMS 1 THRU 3 HAVE BEEN RECEIVED

Meeting the Compliance Certificate Requirements


In order for the sale of a city affordable property to be completed, the HACSB must approve and issue a Certificate of Compliance. The HACSB has 35 days from notification that escrow has opened to issue a Certificate of Compliance, provided that all requirements have been met. The following are the items that need to be reviewed and approved by the HACSB before the issuance of a Compliance Certificate to the escrow company:

  1. Seller has furnished the HACSB with a Letter of Intent to Sell and all required information. (Numbers 1-7 under the “What to do if you are the Seller” section).  This item is for resale units only not for new construction units.
  2. Buyer has provided the HACSB with the Affordable Housing Program Application and requested documentation.
  3. Buyer has provided proof of income and asset documentation which is received within 10 days of escrow opening.
  4. HACSB has verified that Buyer meets the income eligibility requirements.
  5. HACSB has received a copy of the Purchase Agreement, and any amendments, Escrow Instructions (if applicable), Buyer’s Vesting Interest in Property, Lender’s 1008 and 1003 form, and Legal Description of property.
  6. The purchase price of the home does not exceed Maximum Allowable Housing Price.

When the above requirements have been met HACSB issues the Certificate of Compliance and will submit to escrow. In addition, HACSB will submit to escrow a Request for Notice of Delinquencies required by the City to be signed by the buyer(s).

Ventura Affordable Housing Tracts

How do I know if the house I want to purchase has affordable housing restrictions? 

There are several Affordable Housing Developments located in the City of Ventura with resale controls. Details of these developments affordability restriction documents, and other information can be viewed here.

The chart below lists the applicable legal documents that stipulate the affordable housing restrictions for each development. The documents are recorded with the County Recorder’s Office. There is tract information and maps for each affordable development as well. If you are interested in viewing a specific development’s affordability restrictions or any other information as mentioned above, please click on the appropriate link below.

Name of Development

Affordable Restrictions Documents

1st Amend

2nd Amend

Income Level Very-Low Low    Moderate

Housing Unit Type

Tract Information Map

Area Map

Bella Vista

CC&R’s

1st

x

Low

Condo

Pending

Map

The Cannery

Declaration

1st

x

Very-Low

Condo

Map

Map

Country Grove

CC&R’s

x

x

Moderate

Single-Family

Map

Map

Enclave

Declaration

x

x

Low

Single-Family

Map

Map

Harmon Ranch

Declaration

x

x

Moderate

Single-Family

Map

Map

Harmony

Declaration

x

x

Moderate

Condo

Map

Map

Hearthside

Declaration

x

x

Moderate

Condo

Pending

Map

La Paloma

CC&R’s

1st

2nd

Moderate

Single-Family

Restrictions Expired

Map

Portalvo

Declaration

x

x

Low

Condo

Pending

Map

Melody

Declaration

x

x

Moderate

Condo

Map

Map

NorthBank Greens

CC&R’s

1st

2nd

Moderate

Single-Family

Map

Map

Seaview At Midtown

Declaration

x

x

Moderate

Townhomes

Pending

Pending

Seneca Gardens

CC&R’s
Re-Recording

1st

x

Low

Condo

Map 1
Map 2

Map

Seneca Highlands

CC&R’s
Re-Recording

1st

x

Moderate / Low

Condo

Map

Map

The Pearl

Declaration

x

x

Low

Townhomes

Map

Map

Maximum Allowable Household Income Limits

The Maximum Allowable Household Income Limits are based on combined adult income for the total number of people residing in the household.  The current income limits are effective as of May 13, 2022.  Income limits are revised annually.

Maximum Household Income Limits For 2025

(Gross Annual Income by Household Size, Income Level and Category)

Category

Income Level

1 Person

2 Person

3 Person

4 Person

5 Person

6 Person

7 Person

8 Person

Extremely Low

30%

$31,450

$35,950

$40,450

$44,900

$48,500

$52,100

$55,700

$59,300

Very Low

50%

$52,400

$59,900

$67,400

$74,850

$80,850

$86,850

$92,850

$98,850

Low

80%

$83,850

$95,800

$107,800

$119,750

$129,350

$138,950

$148,500

$158,100

Moderate

110%

$101,100

$115,550

$130,00

$144,450

$156,000

$167,550

$179,100

$190,650

Moderate

120%

$110,300

$126,050

$141,800

$157,550

$170,150

$182,750

$195,350

$207,950

Based on current effective median income for Ventura County, as set forth in Cal. Code Regs. Title 25, Section 6932, revised annually.  Effective April 23, 2025

Maximum Income Limits for Mobile Home Program 2025

Category

Income Level

1 Person

2 Person

3 Person

4 Person

5 Person

6 Person

7 Person

8 Person

Low

80%

$83,850

$95,800

$107,800

$119,750

$129,350

$138,950

$148,500

$158,100

4Based on HUD Section 8 income limits effective April 1, 2025, revised annually.

Expiring Restricted Units

There are approximately 500 Ownership Low and Moderate Income Restricted units throughout the City of Ventura.  The list of tracts can be found at Affordable Tracts.  These units are typically restricted between 30 and 45 years and each unit has it’s own specific expiration date.

As the affordable restrictions reach their expiration date you will be able to find your property by tract name, address and exact date of expiration.  The following affordable tracts will begin expiring in Mid 2023 through early 2027.  Click on the tract where your property is located to find the exact expiration date:

As a reminder, your property will be under the restriction until the day they expire, so please make sure you abide by the restrictions on your property until they have expired.

Buyer and Selling FAQs

The criteria varies by affordable development.  The following links will provide some guideline to what is allowed and needed for the approval of a buyer. 

The buyer is required to submit a complete signed original Affordable Housing Program Application and the requested documentation.

Copies of the following are required to be submitted as verification of income for all adult occupants of the buyer’s household. Any person in the household over the age of 18 who earns income must be included in the calculation of maximum household income. Any person whose income is used to qualify for the purchase of the property must have a vested interest in the property income is calculated using gross income:

  1. Most recent pay stubs for all adult wage earners of the household, regardless of who will be showing on title.
  2. Previous 3 years of W-2’s and federal income tax returns, including all corresponding Schedules and forms.  The income tax and W-2 documents must be submitted to the HACSB within 10 days of opening escrow.
  3. Current statements for all bank accounts including checking and savings.
  4. Current statements for all household assets.
    • Household Assets’ means the value of a household’s savings and equity in stocks, bonds, real property (minus debt), or other forms of capital investment. ‘Assets’ does not include items that are reasonably necessary for the personal use of the household, such as personal effects, furniture, appliances, automobiles, and real or personal property used in a business or undertaking which is a primary source of livelihood for such household. Restricted accounts, such as IRA’s, 401(k)’s, SEPs and pension funds will not be used to calculate total amount of assets, but will be used to calculate household income, if a household is currently drawing down from such account(s).
  5. Lenders Underwriting Analysis (HUD form 1008 and 1003). Please note that there are certain loan products that will not be accepted in conjunction with the sale of its affordable units. These loan products include Stated Income, First Trust Deeds with a Balloon Payment, Interest Only, Negative Amortization, and CalHFA.