Housing and Human Services

Affordable Homeownership Opportunities

The City of Livermore's Affordable Homeownership Program, also known as the Below Market Rate (BMR) Program, is an important part of the Citys overall affordable housing programs. The City’s program helps low- and moderate- income households purchase a home at a below market rate. BMR homes become available when new developments are built or when existing homeowners decide to sell.


Affordable Homeownership Program 

 Helpful Resources

              

 

                       


Important Updates on the Affordable Homeownership Program 

As of April 30, 2021, Hello Housing will no longer be administering the City of Livermore’s Affordable Homeownership Programs.  If you are a current participant of the City's Affordable Homeownership Programs (also known as the BMR program), your participation will not be affected and no further action is required.  After April 30, current participants, applicants, and BMR homeowners should contact the City's new program administrator, Zoe McGeary, with ZASM Consulting for information and inquiries moving forward.

Zoe McGeary, Program Administrator
ZASM Consulting

Email: zmcgeary@cityoflivermore.net
Phone:  925-495-0015

You can read more about Hello Housing’s decision here


Current Affordable Homeownership Opportunities

The City's Affordable Homeownership Program recently had two separate opportunities to apply for a Below Market Rate (BMR) home:   

1. NOW CLOSED - 6 BMR Resale Homes 
The City accepted 43 full applications on a first-come first-serve basis for 6 BMR resale homes.  Applications are currently being reviewed for eligibility.  To view the homes that were available, click here. 


2. The 2021 Pre-Application closed on MARCH 22, 2021
The BMR lottery was conducted at 1:00 pm on Monday, April 5th, 2021. The lottery ranking can be found here.  If you have questions regarding your ranking number, please email the City's Housing line at housing@cityoflivermore.net. 


2021 Pre-Application Process 

Every year the City of Livermore opens their BMR application period providing low- and moderate-income households the opportunity to apply for available BMR homes.  The 2021 application period opened on March 1st and closed on March 22, 2021.  

How to Apply: 

STEP 1: SUBMIT A PRE-APPLICATION - When the City opened the application period, applicants must have filled out a pre-application on the website which was indicated here. 

STEP 2: PUBLIC LOTTERY - The BMR lottery was conducted at 1:00 pm on Monday, April 5th, 2021. The lottery ranking can be found here.  If you have questions regarding your ranking number, please email the City's Housing line at housing@cityoflivermore.net

STEP 3: SUBMIT A FULL APPLICATION - In ranking order, applicants will be invited to attend a mandatory workshop that will outline the next steps. Applicants may then submit a full application and mail a check or money order for $125 to the address on the first page of the application.  Hello Housing will screen the applicants, if approved by the City, the applicant will be paired with a home, if and when a home becomes available during the year. If a home does not become available during the year that you apply, you will have to reapply the following year. 

What Homes will be Available?

The Auburn Grove development by Lennar Homes located on First Street, west of Portola Ave., rendered a total of 15 affordable 3- and 4-bedroom townhomes which began selling at affordable prices to eligible, low-income (80% AMI) and moderate-income (120% AMI) households beginning in 2019.  In 2021, appx. four homes at 80% AMI are scheduled to be sold through our program. 

Please keep in mind that in addition to the new homes listed above, any pre-existing BMR homes that come available through the resale process will also be included in this application period. For this reason, both low-income (80% AMI) and moderate-income (120% AMI) households, regardless of household size, are encouraged to apply.

If you have any questions regarding the application and selection process, you can email the City's Housing Division at housing@cityoflivermore.net or by calling 925-960-4580.  

Other Program Resources:

       

EN ESPAÑOL

     

¿Preguntas? - Comuniquese con la administradora del programa de la Ciudad, Claudia Hernandez por correo electronico al cdhernandez@cityoflivermore.net o (925) 960-4582.


To be notified when the application period opens, be sure to sign up to the Affordable Housing Interest list and check the box for affordable homeownership opportunities below(click on icon below): 


Basic Eligibility Requirements: 

   Be a First Time Homebuyer

Applicants must have not owned a home or had any ownership interest in any improved real property within the last 3 years.

  Maximum Income Limits

Gross Household Income must not exceed current Income Limits (to view the current income limits, click here). Income from all adult household members (18 yrs. & older) must be included, except for dependents up to age 24 that are full-time students.

  660 Credit Score

Minimum credit score of 660 is required. Must not have delinquent accounts, charge-offs with a balance, or open collection accounts. No bankruptcy within last 3 years.

  3% Down Payment

Must contribute a minimum of 3% of purchase price. Funds must be available and verified on deposit for 3 months at the time of full application. Funds from retirement accounts & income tax refunds can be considered for up to 1.5% of the required down payment.

  Asset Limit

Applicants may have no more than 25% of the purchase price in total liquid assets, excluding pensions and federally approved pre-tax savings accounts. An exception may be made at the sole discretion of the City’s Housing and Human Services Manager.

  Debt-to-Income Ratio

The total of the new housing payment (including principal, interest, taxes, insurance, and homeowners association dues, if any) plus the sum of all monthly minimum payments on installments (i.e. car loans, credit cards, student loans, etc.) must not be more than 40% of the total household gross monthly income.

    Homebuyer Education Certificate 

Not needed at time of application, but if selected, proof of registration will be required, and class must be completed prior to final loan approval. Required for each applicant. ECHO Housing provides this class for free approximately every 3 months.

   Gifted Funds 

You may be gifted funds up to 17% of purchase price (will count towards liquid assets). These funds may be used toward closing costs and/or additional down payment. A "Gift Letter" must be submitted. (Note: applicants must still contribute 3% of own funds towards down payment.)

    Pre-Approval for First Mortgage

A pre-approval from a participating lender is required with the submission of the full application.

    Citizenship

Applicants must be a U.S. citizen or lawfully permitted for permanent residence.

    

BMR RESALE HOMES         

When a current BMR homeowner decides to sell their BMR home through the City's Affordable Homeownership Program, this creates an opportunity for eligible households to purchase these resale homes.  The application period for the 6 BMR resale homes below is now closed.  The City received 43 applications on a first come first serve basis and is currently reviewing for eligibility.  Eligible applicants will receive a conditional approval letter and will be invited to go into contract on one of the 6 homes.  Future BMR resale opportunities will be offered to households who are on the 2021 Lottery List.  

 

If you have questions regarding your BMR resale application, you may contact Zoe McGeary at zmcgeary@cityoflivermore.net

 

BMR Resale Homes:

318 S. Livermore Avenue #112 (PENDING)

80% AMI
Price: $281,502
HOA: $225.30/mo
Bedrooms: 1 / Bathrooms: 1 / Interior Size: 505 Sq. Ft.

Household Size Requirement: 1-3 people
Type: Townhome Style Condo
Click here for a video tour

 

 

 

 153 Gillette Place #114 (PENDING)

80% AMI
Price: $328,190
HOA: $249.43/mo
Bedrooms: 2 / Bathrooms: 2.5 / Interior Size: 1,264 Sq. Ft.

Household Size Requirement: 1-5 people
Type: Condominium

Click Here for Video Tour 
Click here for floor plan

 

 

 

6288 Forget Me Not Cmn (PENDING)
80% AMI
Price: $328,190
HOA: $ 299.44/mo
Bedrooms: 2 / Bathrooms: 2.5 / Size: 1,023 Sq. Ft.

Household Size Requirement: 1-5 people
Type: Townhome Style Condo
Click here for floor plan

 

 

6122 Forget Me Not Cmn (PENDING)
80% AMI
Price: $374,654
HOA: $ 299.44/mo
Bedrooms: 3 / Bathrooms: 2.5 / Size: 1,401 Sq. Ft.

Household Size Requirement: 3-7 people

Type: Townhome Style Condo

845 Camden Common (PENDING)
120% AMI
Price: $547,330
HOA: $227.13/mo
Bedrooms: 3 / Bathrooms: 2.5 / Interior Size: 1,746 Sq. Ft.
Household Size Requirement: 3-7 people
Type: Townhome Style Condo
Click here for floor plan and click here for a video tour

 

 

537 Sonoma Avenue (SOLD)
120% AMI
Price: $547,330
HOA: $125/mo
Bedrooms: 3 / Bathrooms: 2 / Interior Size: 1,610 Sq. Ft.
Household Size Requirement: 3-7 people
Type: Single Family Detached
Click here for floor plan and click here for a video tour 

 

 

 

Questions?

Zoe McGeary, Program Administrator
ZASM Consulting

Email: zmcgeary@cityoflivermore.net
Phone:  925-495-0015
 


Current BMR Homeowners

Interested in selling your BMR home? If you are a BMR homeowner interested in selling your home, please follow the instructions found in the Steps to Reselling your Below Market Rate Home packet below: 

Interested in Refinancing your BMR home? 
If you or your client are existing BMR homeowners and would like to refinance your existing First Mortgage, please contact the program administrator, Zoe McGeary at:

Zoe McGeary, Program Administrator
Email: zmcgeary@cityoflivermore.net
Phone:  925-495-0015

Please review the Subordination Terms and Conditions here: