The City of Fountain Valley provided funds to developers for the development of affordable housing units. In return, all of the units in the affordable projects are required to be sold to income eligible households, at an affordable price.
Occasionally, these units come up for sale. Subsequent buyers must meet income eligibility and affordability criteria for the term of the affordability. The information below is being provided for information purposes only and includes pertinent application documentation and eligibility requirements
Liberty at Founder's Village
This 55 and older Senior project was built in 2004 and is affordable to Low/Moderate Income Households for 55 years. The income restrictions and eligibility requirements are available in the Liberty Application Package. Potential buyers must complete all of the forms in the application package and provide all applicable back up documents to the city for verification of eligibility to purchase in the community.
Applications are only accepted when a unit is for sale. Therefore, we do not pre-qualify and do not keep a list of eligible applicants. Once a unit is available, the potential buyer must comply with all eligibility requirements:
Gross Annual Income from all Household Members (whether on title or not) must be included and be below the Maximum for Household Size. See Income restrictions and utility allowances.
Affordable Unit must be affordable to the Household. Low Income Households cannot pay more than 30% and Moderate Income Households must pay between 28% and 35% of their gross monthly income for all housing costs to be considered affordable.
Housing Costs include Principle and Interest, Taxes, Insurance, HOA Dues, and Utility Allowance. See Income restrictions and utility allowances.
A Household is the Applicant and their immediate household members living in an established household (living together at least one year).
This is a Senior Project, therefore all Applicants and Co-Applicants must be 55 or older to qualify.
List of Current Units for Sale
The City of Fountain Valley does not maintain a list of units currently for sale. Additionally, the City of Fountain Valley does not maintain a list of potential eligible buyers. The City of Fountain Valley will only review potential buyer documentation at the time an offer is being presented to the listing agent of a unit currently for sale.