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02 ATTACHMENT 2
City of Pleasanton
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CITY CLERK
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AGENDA PACKETS
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2023
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012623 SPECIAL
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02 ATTACHMENT 2
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1/20/2023 5:43:46 PM
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1/20/2023 5:26:34 PM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
1/26/2023
DESTRUCT DATE
15Y
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\CITY CLERK\AGENDA PACKETS\2023\012623 SPECIAL
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<br />C-40 | City of Pleasanton Housing Constraints <br />well as permitting requirements and impact fees. They generally range from 15 to 30 percent of <br />total development costs but can fluctuate depending on local fees and exactions. Please refer to <br />the Permit and Development Fees section, above, for a discussion of the City’s required permit <br />and development fees. <br />C.3.3 Availability of Financing <br />The availability of financing can impact rates of homeownership. The ability to secure financing <br />can be influenced by several factors, including creditworthiness, debt-to-income ratio, and the <br />restrictiveness of mortgage lending standards. Reviewing data collected through the Home <br />Mortgage Disclosure Act (HMDA) can reveal the role the lending market has had on local home <br />sales. Home purchase loans in 2020 are summarized in the table below. <br />Almost all traditional home loan applications (between government-backed and conventional) in <br />2020 were for conventional loans, for a total of 894 home loan applications across both types. <br />This disparity could be driven from high home values in Pleasanton, as government-backed loan <br />programs typically have a maximum loan amount. The approval rate for conventional loans was <br />78 percent. <br />In competitive housing environments, where purchasing a new home may be out of reach for <br />some, home renovations can be a desirable and more affordable way to add value to property. <br />There were 183 home improvement applications in 2020. The approval rate for these types of <br />applications was 56 percent. <br />
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