Thank you for your interest! This page will provide you information on Below Market Rate (BMR) homes administered through First Home Inc. and the Bay Area HomeBuyer Agency. The sale of BMRs create affordable homeownership opportunities for low to moderate income homebuyers whose earnings are usually at or below 120% of the areas median. Affordability for BMRs is achieved through a combination of reducing the sales price and/or through offering homebuyer assistance subsidies. BMR units have a number of ownership and sales restrictions, including, most commonly, the price at which the property can be resold and the requirement that the home not be rented.
First Home Inc. (FHI) and the Bay Area HomeBuyer Agency (BAHBA) will be administering either/or the sale and financing of the BMR units.
For more information on these available properties, please contact Joseph Schneider at 415-561-5600 x125.
502 Monogram Way - San Leandro, CA
$251,740
A detached, 3 Bedroom/2.5 Bathroom Below Market Rate home which was recently built in an upscale neighborhood in San Leandro. Hardwood floors, custom made blinds in the downstairs area, 1336 sqft of living space and a two car garage make the reduced price seem even more unbelievable.
To qualify for this unit, a buyer must be qualified per the City of San Leandro BMR guidelines. Household incomes cannot exceed 120% of the area median income for Alameda County. Prequlification by preferred lender is required on all offers.
For more information, please contact Joseph Schneider at 415-561-5600 x125.
