After the lottery

  1. MOHCD reviews applications of the lottery winners

    If the application passes, MOHCD will send out conditional approvals. Approved buyers should receive approvals about 10 days after the lottery results are posted online.

  2. Buyer goes into Contract to Purchase

    If you get a conditional approval, you must go into a "contract to purchase" within 10 days. You also have to work with your lender on loan approval. This process includes:

    • Opening escrow
    • Ordering an appraisal and home inspection (for resales)
    • Providing current or updated financial documents as soon as we ask for them. They include:
      • 3 months of your most recent bank statements
      • 3 years of your most recent tax returns
      • 3 most recent paystubs

    You must also meet with your housing counselor to get a certification of completion. You may also do a pre-closing interview with your counselor.

  3. MOHCD Final Approval

    Your mortgage loan officer will send the lender package (including the appraisal and loan approval) to MOHCD for final approval to close escrow. For BMR units, escrow is 60 days.

  4. Before Final Closing

    You'll be able to do one last walkthrough of the property.

  1. Requirements before you apply
  2. Apply for current homebuyer listings
  3. How the lottery works
  4. After the lottery
  5. Annual monitoring