Oak Grove by Summerhill Homes in Walnut Creek
4-Bedroom Income Restricted Homes for $597,391
Final Home Now Selling!
Apply Now! First-Come-First-Served!
-
The 5.94-acre project site consists of eight parcels located at the intersection Jones Road and Oak Road, within unincorporated Contra Costa County in the City of Walnut Creek. The proposed project includes rezoning the project site from Multiple-Family Residential and Single-Family Residential to a Planned Unit District. Photos may be of a different 4-bedroom unit with the same floor plan.
-
Resale Restriction, Excess Sales Proceeds Note, and Deed of Trust
This program requires you to sign a Restriction Agreement.
Resale Restriction Terms: Located on the Program Documents.
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.
-
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
OPPORTUNITY DRAWING #763
232 Oak Circle #66 (4BD - 2BTH) - $597,391 / Approx. 1522 sq ft
Monthly HOA: $359
H06 Insurance Required
Regular Property Taxes Estimated (Check with your loan officer): $622 per month
Additional tax assessment: $112.69/mo
Additional CFD: $53.46/mo
Solar is required and NOT included in the purchase price - Solar Cost (approx.): $9,490
Property Designated Income Category: Up to Moderate
Occupancy: Min Household 1, Max 9 people
No City Preferences Apply
Resale Restriction Terms: Please refer to the Program Documents, including the “Buyer’s Occupancy and Resale Restriction Agreement, Note and Deed of Trust.
Please refer to the ODN (Right) for additional information.
Important Deadlines
Final Deadline to Enter Drawing 7/17/2026 5 pm
File Submission Deadline 7/30/2026 5 pm
Estimated minimum household income: $121,076
ESTIMATED COST BREAKDOWN
RESOURCES
How-to and Informational Videos
How to get started and prepare a file
Register for HUD Approved 1st Time Homebuyer course
Complete (Full) File Document Checklist
Lender List and Forms: Click Here
Applicants selected to purchase one of these homes must remain qualified for their financing and eligible for the program throughout the application process until they close escrow and get the keys.
