Below Market Rate Homeownership Program

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For Sale BMR Units

There are currently no BMR units accepting applications for purchase.

If you are interested in receiving notifications of when BMR(s) are on the market for sale, please sign up on the City's Affordable Housing Interest List. Please note being on this City's Interest List only sends notifications and does not place you on any application list.

Program Guidelines

Threshold Eligibility Requirements

  • The home purchased under this program must be owner occupied.
  • Applicant must be a first time home buyer (cannot have owned or jointly owned a home in the past three years).
  • Applicants income cannot exceed the maximum for the designated unit and the applicant must be able to provide sufficient documentation of income.
  • Applicant must provide a minimum of 5% down payment, of which 3% must be from their own funds.
  • Applicant's down payment funds must be seasoned (in buyer's bank account) for at least three months.
  • Housing Costs (principle, interest, taxes, insurance, homeowners association fees, and utilities) cannot exceed 35% of the applicant's gross income.

Maximum Income Limits (2017)

* AMI: Area Median Income in the Oakland Metropolitan Statistical Area

No. of persons/
No. of Bedrooms
Low Income
(80% of AMI)
Moderate Income
(120% of AMI)
1 Person $56,300 $81,850
2 Persons
$64,350 $93,500
3 Persons
$72,400 $105,200
4 Persons
$80,400 $116,900
5 Persons
$86,850 $126,250
6 Persons
$93,300 $135,600
7 Persons
$99,700 $144,950
8 Persons
$106,150 $154,300
 
  • A household is defined by including all the persons who will occupy a housing unit. The occupants may be one person living alone, a single family, two or more families living together or any other combination of related or non-related persons who share living arrangements.
  • Total household income is the total income of all members in the household 18+ years old.

A summary of Restrictions, Terms and Conditions

  • Home must remain an Affordable Unit for 45 years, and sold at an affordable price as determined by the City.
  • Unit must be owner occupied.
  • Unit or part of the unit may not be rented or leased.
  • Maintenance and upkeep of unit is required as per City Code and Owners Association Guidelines.
  • Insurance requirement verification, property tax payment verifications, and occupancy requirement verification must be provided to the City annually.
  • City or City designated assignee has option to purchase unit upon desire from participant (owner) to sell at restricted resale price.
  • Restrictions continue for specific time period even if any financial assistance provided is repaid prior to the end of the restriction period.
  • Resale to Eligible Buyer re-starts restriction time period for an additional 45 years.

Additional Finance and Purchasing Information

  • Applicant must have sufficient creditworthiness to qualify for a first mortgage. Creditworthiness may include not having filed bankruptcy in the last three years. Criteria may require a minimum credit (FICO) score
  • A gift of funds is permitted to assist in the purchase of the inclusionary unit.