Below Market Rate (BMR) Homeownership

Below Market Rate (BMR) Program

There is an existing portfolio of approximately 100 BMR homes. These homes have been constructed and sold at different times by private developers in order to fulfill the City’s Inclusionary Zoning Ordinance or other affordable housing requirements. The homes are deed restricted by documents that contain resale restrictions, and which limit appreciation and ensure ongoing affordability to future purchasers. As new projects are developed in Alameda, additional BMR homes will continue to be built. Depending on the amount of market-rate residential development, from one to approximately ten homes may be sold each year through the BMR program.

When it is available, the Down Payment Assistance Loan Program may be used in conjunction with affordable units generated through the Inclusionary Zoning Ordinance to purchase a new below market rate home.

Are there any other requirements? 

Borrowers must attend a HUD-certified Homebuyer Counseling Workshop. Click here for a list of Counseling Agencies that offer the required certificate. 

A home purchased under the Down Payment Assistance program must be, and remain, the borrower’s principal place of residence. The property cannot be leased or rented during the term of the City loan. 

Funds are limited. Assistance is provided on a first-come, first-served basis, as long as funds remain available. 

Who do I contact for more information?

The Housing Authority contracts with Hello Housing to assist in the administration of this program. For more information, please call Hello Housing at 415-863-3036 or e-mail at


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