8000 Olive Street

A beautifully renovated, affordable

two-bedroom, one-bath home near Arroyo Viejo Park in East Oakland

Applications DUE by July 17, 2024 at 11:59pm Pacific Time

$247,000

Image of single-story home

Key Features of 8000 Olive St

 

  • Two-bedroom, 1 bathroom, with an attached garage

  • 981 square foot home on a 3,000 square foot lot

  • Originally built in 1939, substantial renovation in 2010 with additional upgrades in 2023

  • Fully fenced corner lot with side yard and rear patio

Eligibility Criteria

OakCLT’s affordable homeownership opportunities are only available to lower-income households. If you meet the following baseline criteria, you may be eligible:

  • Household Income at or below 80% of Area Median Income (see chart below)

  • Can qualify* for a mortgage with OakCLT-approved lender (*Requires a credit score of 640+, stable source of income, no foreclosure or bankruptcy within past 7 years, SSN)

  • Can provide 3% of purchase price as a downpayment

City of Oakland Area Median Income by Household Size (2024)

Household Size

1

2

3

4

5

6

7

8

80% Area Median Income
$84,600
$96,650
$108,750
$120,800
$130,500
$140,150
$149,800
$159,500

Get Prepared!

In order to get started on the process of purchasing an OakCLT home, the following are required steps you’ll need to take:

  • Attend an OakCLT Homebuyer Orientation Session

    • Live Zoom orientation sessions were held throughout June for prospective homebuyers. If you were unable to attend, we have pre-recorded the orientation session for you to watch.
    • Instructions for accessing the online orientation:
      1. Click here to access the Zoom recording (register with your full name and email address)
      2. Click here to complete the mandatory quiz after you have watched the orientation

  • Get pre-approved for a mortgage with one of OakCLT’s approved lenders. (IMPORTANT NOTE: Lenders need time to process your pre-approval. We recommend getting your documents to the lender at least 10 days in advance of the application deadline. There is no guarantee that you will receive a pre-approval letter if you are unable to get your documents to the lender by July 3rd.)

  • Complete a required 8-hour HUD homebuyer education course

  • Find a realtor (Ask friends, family, or OakCLT for a referral if you don’t already have one)

Documents to Review

Important details about homeownership with OakCLT, our process, and homebuyer selection criteria

OakCLT Homebuyer Manual

(English)

OakCLT Home Sale Process

(English)

OakCLT Homebuyer Selection Criteria

(English)

OakCLT Homebuyer Manual

(Español)

OakCLT Home Sale Process

(Español)

OakCLT Homebuyer Selection Criteria

(Español)

How to Apply

  • 1

    Review ALL eligibility critieria & attend an OakCLT Homebuyer Orientation Session

  • 2

    Complete required 8-hour HUD Homebuyer Education

  • 3

    Get pre-approved for a mortgage from one of OakCLT’s approved lenders

  • 4

    Submit an application with all necessary documentation (NOTE: Evidence of completing items 2 and 3 above must be submitted WITH your application. We will confirm your attendance at a OakCLT Homebuyer Orientation Session.)

APPLICATIONS ARE DUE BY July 17, 2024 (11:59pm PST)