Walnut Park Affordable Housing Program

City Ventures is proud to partner with the City of Simi Valley to provide affordable homeownership opportunities at Walnut Park. Through this program, qualified households may have the opportunity to purchase a brand-new home at a price below current market value. Our team will work closely with the City throughout the qualification and home purchase process. Please review the FAQs located at the bottom of the page for answers to general questions.

Walnut Park will offer a total of ten (10) affordable homes through the City of Simi Valley's Affordable Housing Program. In addition to the purchase price shown below, homeowners should anticipate estimated monthly HOA dues of $378. Below are details of the available homes.

Eligibility for the Affordable Housing Program is based on household size and annual household income. Applicants must meet the Moderate-Income (120% Area Median Income) requirements established by the California Department of Housing and Community Development. Please review the household size and income limits below.*

*Income limits are provided for informational purposes only. The information above is based on the Official State Income Limits for 2026 and is subject to change by the State of California without notice.

The Affordable Housing Program Interest List will open on October 1, 2026 and will remain open for 60 consecutive calendar days or until 50 interest-list registrations are received, whichever occurs first. Submitting an Affordable Housing Program Interest List registration expresses interest in the program but does not establish an applicant’s position on the qualified applicant list or determine application priority. Joining the general Walnut Park community interest list through CityVentures.com also does not qualify as an Affordable Housing Program Interest List submission. To be placed on the qualified applicant list, applicants must complete the lender review process and submit all required lender verification and supporting documentation. Applicants will be placed on the qualified applicant list based on the date and time City Ventures receives the completed lender verification and required documentation.

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FREQUENTLY ASKED QUESTIONS

1. Who is eligible to purchase an affordable home?
Eligibility is based on household size, annual household income, and other program requirements.

2. How do I get started? 
Contact the Walnut Park Sales Team to begin the process. You'll need to:

• Obtain a mortgage pre-qualification from your lender or one of our preferred lenders.
• Submit the required income and financial documentation to the Walnut Park sales team.
• The Walnut Park Sales team will review all documents to ensure eligibility and will submit approval to City of Simi Valley for final approval. 

Once the City approves your eligibility, our team may proceed with a purchase contract. All updates will be through the Walnut Park Sales Team.

3. What income and financial documents are required for City Ventures eligibility?
To determine eligibility, buyers will be asked to provide documentation verifying income, assets, and household information. Required documents include:

• Three (3) most recent pay stubs
• Three (3) years of W-2s and/or 1099s from all employers
• Three (3) years of personal tax returns, including all schedules
• Three (3) years of business tax returns, including all schedules, if applicable
• Three (3) months of bank statements for all asset accounts, including all pages
• Most recent retirement account statement, including a 401(k), IRA, or pension
• Landlord's name and phone number, if applicable
• Valid California driver's license or identification card for all buyers
• Social Security card for all buyers
• Social Security or pension award letter, if applicable
• U.S. passport, Permanent Resident Card, or U.S. birth certificate
• Credit report for all household members age 18 or older, provided by the pre-qualifying lender

Please note: Additional documentation may be required by the City of Simi Valley to complete the eligibility review. The Walnut Park Sales Team will reach out to buyer(s) if additional documents are required.

4. Do I need to live in the home?
Yes. Affordable homes must be owner-occupied and used as the purchaser's primary residence. Renting or using the home as an investment property is not permitted.

5. How are buyers selected?
Priority is given to eligible households that currently live or work in Simi Valley based on the City's Affordable Housing Program. 

6. Are there restrictions when I sell the home in the future?
The affordable home is subject to resale and occupancy restriction for at least 45 years from its initial sale. Future sales and transers must comply with the City's requirement which will include:

• City notification and review
• Sale to an Eligible Buyer
• City-approved transfer documents
• The applicable Maximum Resale Price
• The City’s right to purchase the home or designate an Eligible Buyer

7. What if my household size does not meet the stated household size requirements?
If a home is designated for a particular household size range, applicants whose household size falls outside of that range may not be eligible for that home. We encourage interested buyers to contact our team to discuss their household size and determine whether they may qualify for current or future affordable housing opportunities.

8. How long does the qualification process take?
The timeline varies depending on each buyer's individual circumstances. We encourage you to contact our Sales Team to discuss your situation and learn what to expect.

9. Who will notify me if I am approved or eligible to purchase an affordable home?
The Walnut Park Sales Team will serve as your primary point of contact and will communicate the City's eligibility determination, guide you through the process, and provide you your next steps.

10. How long is the application period?
Applications for Walnut Park affordable homes will open on October 1, 2026 and close on November 30, 2026 for applicants who work and live in Simi Valley. All interested households may apply during this period; however, eligible current Simi Valley residents or workers will receive priority in accordance with the City’s Affordable Housing Program. Applications submitted after November 30th will not be accepted.