Aldersgate, LLC

Aldersgate, LLC

Vista Urbana Location

Vista Urbana is located in the Riverpark master planned community.

Across the freeway from the Esplanade shopping center.

Vista Urbana Location

Vista Urbana Site

Vista Urbana will contain 13 buildings comprised of 12 homes for a total of 156 units of affordable housing.

69 homes will be considered low income units 87 homes will be low to moderate income units

The site will contain: Plenty of owner and guest parking Lush landscaping Neighborhood pocket park

Vista Urbana Site Map

Vista Urbana Exterior Elevations The homes will feature Spanish and

Mediterranean inspired architecture including:

Tile roofs Arched windows Rod iron terraces Private patios and balconies.

Vista Urbana Exterior Elevations

Floorplans

Vista Urbana Floor Plans

There are five Vista Urbana floor plans.

1) 2 Bed/2 Bath at 998 sq. ft. = 26 2) 2 Bed/2 Bath at 1,025 sq. ft. = 52 3) 3 Bed/2 Bath at 1,257 sq. ft. = 26 4) 3 Bed/2 Bath at 1,321 sq. ft. = 26 5) 3 Bed/2.5 Bath at 1,471 sq. ft. = 26

Total homes: = 156

Please note, that these are square footage approximations.

Vista Urbana Floor Plans

Each floor plan will feature:

9’ high ceilings Walls wired for internet and flat screen

TV’s. Granite countertops Carpet and porcelain tile Name brand appliances Private patios and balconies

Plan 1 Floor Plan

•998 Square Feet

•2 Bedroom

•2 Bathroom

•9’ High Ceilings

•Granite Counter Tops

•Name Brand Appliances

•Porcelain Tile and Carpet

Plan 1 Model Color Scheme

•1,025 Square Feet

•2 Bedroom

•2 Bathroom





Plan 2 Floor Plan



•3 Bedroom

•2 Bathroom





Plan 3 Floor Plan



•3 Bedroom

•2 Bathroom





Plan 4 Floor Plan



•3 Bedroom

•2.5 Bathroom





Plan 5 Floor Plan


Financial Information

Vista Urbana General Eligibility For the Vista Urbana development in

general, you must meet Ventura County median income guidelines.

That’s it!

However, for down payment assistance, you must meet City and State requirements.

Ventura County Median Income Guidelines To qualify for Vista Urbana, your gross annual income

should not exceed the income limits below.

Family Size Low Income Moderate Income

1 Person $49,850 $74,0002 Persons $57,000 $84,5503 Persons $64,100 $95,1504 Persons $71,200 $105,7005 Persons $76,900 $114,1506 Persons $82,600 $122,6007 Persons $88,300 $131,0508 Persons $94,000 $139,500

Down Payment Assistance

There are two types of down payment assistance.

1) The City of Oxnard. 2) State of California.

Each has its own eligibility criteria.

Down Payment Assistance Programs

1) City of Oxnard down payment assistance. Housing Department

BEGIN Program Citywide Loan Program HERO Program

2) State down payment and closing costs assistance.

California Housing Finance Agency California Homebuyer’s Down Payment Assistance

Program (CHDAP) School Facility Fee (SFF)

City Down Payment Assistance Eligibility

To be eligible for City of Oxnard down payment assistance you must be meet the following criteria:

Must be a first time homebuyer. Could not have owned a home in the last

three years. A mobile home is not considered a house.

At the time you apply, you must be an Oxnard resident.

All household members must be legal residents of the U.S.

Once approved for Vista Urbana, you must attend a first-time homebuyer course with SurePath Financial.

At the time you apply you must not exceed the Ventura County median income guidelines.

City Down Payment Assistance Eligibility

State Down Payment Assistance Eligibility

To be eleigible for State down payment assistance you must be considered a first time homebuyer.

Not owned a home in the last three years. A mobile home is not considered a home.

You must intend to occupy the home for at least five years.

State Down Payment Assistance Eligibility

You gross monthly income must not exceed the income limits below.

One Person $70,950 Two Persons $81,050 Three Persons $91,200 Four Persons $101,300 Five Persons $109,400 Six Persons $117,500 Seven Persons $125,600 Eight Persons $133,700

Your Down Payment

Two working adults Approximately, $5,000 of which

$2,500 may be a gift.

One working adult Approximately, $2,500 of which

$1,250 may be a gift.

Down Payment Assistance Review

BEGIN Grant CalHFA CHDAP CalHFA SFF Citywide Loan Program HERO Conditional Grant Property Tax Reduction Ventura County MCC Program

BEGIN Down Payment Assistance

BEGIN is a deferred loan.

No payments of interest or principal are due until the your home loan is paid or at the end of 30 years.

BEGIN has a 3% simple interest rate.

CalHFA CHDAP

CHDAP stands for the California Homebuyer’s Down Payment Assistance Program.

The CHDAP is a deferred-payment loan for 3% of the purchase price for down payment and closing costs.

No payments of interest or principal are due until the your home loan is paid or at the end of 30 years.

CHDAP’s deferred interest rate is 3.25% simple interest per year.

CalHFA SFF

SFF means School Facility Fee.

The SFF program provides you with a conditional grant/rebate of the school fees paid by the developer.

If you occupy the home for five years, the full amount of the conditional grant is forgiven.

City of Oxnard Citywide Loan Program

The City will provide a forgivable loan for down payment and closing costs.

The loan is a capped, 3 to 1 match of your down payment.

If you contribute $1,000, the city will contribute $3,000.

The loan is forgiven after 5 years if loan is $15,000 or less and 10 years if the loan is over $15,000.

City of Oxnard Citywide Loan Program

If you sell your home before the 5 or 10 years you need to pay back the principal plus deferred simple interest at 3% per year.

Applications will be processed on a first come, first qualified basis.

Subsidy and amount will be based on availability and need for qualified borrowers.

HERO Grant

HERO is a down payment assistance program.

HERO is forgiven after ten years of living the property.

To qualify, you must meet the same criteria as the Oxnard Citywide Loan Program.

Property Tax Reduction

Vista Urbana Property taxes will be based on 1% of your loan amount, not on 2.05% of your sales price.

For example, based on a sales price of $196,700 the savings is listed below:

Regular Riverpark Tax Vista Urbana Tax $336.03* $180.17**

That’s a saving of $155.86 per month.

*Assumes 2.05% in Riverpark Mello-Roos property taxes.**Assumes 1% of loan amount plus 38.35 CFDF

Ventura County MCC Program The Mortgage Credit Certificate (MCC) Program is

a federal tax break that increases your monthly take home pay.

It helps you reduce the federal taxes that would be deducted from your paycheck.

This leaves you extra money to help you make your mortgage payment.

For example, on a $196,700 home at a 3.875% rate, the extra monthly income would be $106.76.

Pricing

Vista Urbana Pricing

Plan Rooms/Bath Sq. Feet Price

Plan 1: 2/2 998 $141,500Plan 1: 2/2 998 $191,999Plan 1: 2/2 998 $193,999Plan 2: 2/2 1,025 $196,700Plan 3: 3/2 1,257 $230,999Plan 4: 3/2 1,321 $233,99 9Plan 5: 3/2.5 1,471 $235,999

Prices and payments are subject to change due to subsidy and market conditions.

FHA and Conventional Loans

Depending on the working adults, all you need for an FHA loan is a down payment of approximately $2,500 to $5,000 of which half of that can be a gift.

However, if you are able to put down 5% of the sales price you may be eligible for a conventional loan.

A conventional loan significantly lowers your monthly home payment.

Note, that the 5% down payment must be your own money. No gift funds are allowed.

FHA vs. Conventional Payments

Plan Price FHA Payment* 5% Down Conv. Pmt.**Plan 1 $141,500 $938 $7,075 $823Plan 1 $191,999 $1,269 $9,600 $1,139Plan 1 $193,999 $1,282 $9,700 $1,149 Plan 2 $196,700 $1,299 $9,835 $1,211Plan 3 $230,999 $1,518 $11,550 $1,352Plan 4 $233,999 $1,534 $11,700 $1,365Plan 5 $235,999 $1,543 $11,800 $1,374

*Payments are based on 30 year fixed, FHA loans at 3.875% and include principal, interest, taxes, CFDF and HOA.

***Payments are based on 30 year fixed, Conventional loan at 3.875% and include principal, interest, taxes, CFDF and HOA.

Resale Restriction

Vista Urbana homes will be restricted for 45 years.

If you wish to sell your home before this term, the City of Oxnard will set the re-sale price of the home.

You cannot refinance the home without notification and approval of the City of Oxnard.

Resale Restriction Sale Example

Assumption for a sale after ten years.

Original Sales Price: $196,700 Down Payment: -$5,000 CHDAP Closing Costs: -$6,270 Citywide Loan: -$1,923 HERO Loan: -$3,205 CalHFA SFF: -$4,060 BEGIN: -$18,846

UFMIP +$1,573 Loan Amount: $165,239

City estimated sales price in 10 yrs:$230,139* Loan balance after 10 years: -$129,628

Gross Equity: $100,511

*Based on an estimate of CPI index movement for a total estimated increase in value of 17%.


Estimate of deferred loans due after ten years.

Citywide Loan: $1,923 0 HERO Loan: $3,205 0 CalHFA SFF: $4,060 0 CHDAP: $6,270 $6,270 BEGIN: $18,846 $18,846

Total deferred loans due: $25,116 x 10 Yrs @ 3% simple interest: $32,651


City estimated sales price in 10 years: $230,139 Loan balance after 10 years: -

$129,628

Gross equity: $100,511 Deferred loans and interest due: - $32,651

Gross estimated equity after 10 years: $67,860


How Vista Urbana Benefits You! Mortgage payment is less or equal to what you

would pay in rent. Control over your own home.

Can’t be asked to vacate the apartment or rented house.

Yearly tax deduction on interest you pay on the loan.

Yearly tax deduction on the property taxes. New home, built for you with modern finishes.

Gain equity!

How Vista Urbana Benefits You! In this example, you are literally being paid or

building $565.50 per month, in equity, just to live at Vista Urbana!

If we take the net equity example of $67,860/10 years = $6,786 per year!

$6,786/12 months = $565.50!

Questionnaire

Questionnaire Distribution

As you entered, you were provided with a Questionnaire and a Questionnaire Receipt.

If you need any extras, they will be available at the exits.

Also, starting on Tuesday, November 8, 2011 Questionnaires will be also be available at the following locations:

Vistaurbana.net

Oxnard Housing Department lobby 435 South D Street, Downtown Oxnard

California Realty Professions, Inc office 451 West Fifth Street, Downtown Oxnard

Questionnaire Distribution

How to apply for Vista Urbana Complete the Questionnaire and Receipt and

submit them between: November 12 to November 16, 2011 Deadline is November 16, 2011 at 6:30 PM

November 12 submission: 7:00 AM to 4:00 PM at Santa Clara High School Gym.

November 14, 15 and 16 submissions: 10:00 to 6:30 PM 451 West Fifth Street, Downtown Oxnard.

Questionnaire Submission Deadline

Wednesday, November 16, 2011 at

6:00 PM.

At 451 West Fifth Street in Downtown Oxnard.

Once your questionnaire is submitted you cannot modify it.

How to apply for Vista Urbana When you submit your questionnaire and receipt a

sequence number will be written on the top and bottom portions of the receipt and on your questionnaire.

That will be your sequence number throughout the pre-qualification and sales process.

As proof that you submitted your questionnaire, you will receive the top portion of the receipt.

The bottom portion, will be stapled to your questionnaire.

How to apply for Vista Urbana Therefore, if you are sequence number 1, you will

be the first questionnaire to be analyzed. If eligible, you will be the first to choose your home and complete a loan application.

If approved for a loan, two things will happen:

You will be invited (based on your sequence number) to enter into a purchase agreement for a Vista Urbana home.

You will then be asked to complete a City of Oxnard affordable housing application .

The purchase of your Vista Urbana home is contingent on the final approval of your City of Oxnard affordable housing application and final loan approval.

Questionnaire Processing

We estimate that by Monday, January 16, 2012, all of the Questionnaires will be processed.

Meanwhile, we would advise you to not make any major purchases like cars, flat screens, jewelry, etc.

Maintain your credit card balances as low as possible.

Please watch your Christmas shopping!

Questionnaire Instructions

Homeownership Questionnaire

The Questionnaire will be used to determine if you meet basic City of Oxnard and Vista Urbana eligibility requirements.

This is not a loan application. Your credit report will not be pulled.

If you meet the basic requirements, you will be contacted and asked to complete a formal loan application.

Homeownership Questionnaire

If the loan application is approved, you will then be asked to complete a City of Oxnard affordable housing application as well as a Vista Urbana sales contract.

The purchase of your Vista Urbana home is contingent on the final approval of your affordable housing application by the City of Oxnard and final loan approval.


Questionnaire Type

Individual Single person Unmarried person

Joint Husband and wife Two or three other people


Marital Status

Married

Unmarried Divorced

Separated


General

Your name Spouse’s (husband or wife) name Co-Applicant who will live in the home Household address Telephone E-Mail


General Continued

How many members in the Household? Adults Dependents (Children/Other)

How many members in your Household over 18 who are employed?


General Continued

Answer yes or no for you the applicant, your spouse (husband or wife) and co-applicant.

Are you a U.S. Citizen? Are you a legal U.S. resident? At the time of your City of Oxnard application, will

you live in Oxnard? Have you owned a home in the last three years? Do you have additional income you want

considered?


General Continued

Do you have additional income you want considered?

If Yes, source:

SSI, Child Support, Spousal Support, etc. Amount per month


Employment

For you, Spouse (husband or wife) or Co-Applicant list employment for the last two years.

Employer Date hired Annual Gross Income


Employment

Part time employment: For students or others Counts if you have been working in the

position for at least two years.


Debt

Debt are items that are being financed or other obligations that you must pay.

Debt examples: Credit cards Car payments Child support or alimony Student loans not in deferment.


Debt

Example of payments that are not debts:

Monthly rent Utility bills (gas, cable, water, cell phone) Vehicle insurance or health insurance Private school tuition Student loans in deferment


Debt

Write the name of the creditor Best Buy, Visa, Honda

Your balance Amount you owe

The minimum payment Not what you may overpay to bring down

the balance.


Savings and checking information

List the institution Name of your bank Name of your credit union

Your current balance


Savings and checking information

List the following Savings Checking IRA, 401K Other investments


Questionnaire Receipt Instructions

Down Payment

Is any part of your down payment a gift?

If yes, how much?

Who will provide the gift?

Questionnaire Instructions Reminder

INCOMPELTE QUESTIONNAIRES WILL NOT BE PROCESSED.

Thank you for your interest in Vista Urbana.

General Questions

Documents

Aldersgate, LLC