City of Emeryville's
Below Market Rate Ownership Program
As part of our program management activities, Hello Housing offers assistance to aspiring homebuyers looking to qualify for purchasing a BMR home, as well as support for existing BMR homeowners or City Loan recipients who are interested in selling, refinancing, or making capital improvements to their homes
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The City provides two programs designed to help income-eligible households achieve affordable homeownership:
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1. The Below Market Rate Homeownership Program - offering affordable homes for sale to income-eligible households.
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2. First Home Emeryville - a down payment assistance loan available to income-eligible households.
Refinancing or Paying Off a City Loan?
If you are a homeowner with a City Loan seeking to refinance or payoff your home loan, simply direct your lender to contact us. We will provide the lender with a comprehensive refinance checklist to ensure that all program requirements are met.
Additionally, we will supply any necessary documentation, including sample subordination, payoff demands and program documents, to assist the lender in determining if their new mortgage loan can be combined with the City's loan programs.
According to the city's guidelines, homeowners with City Loans are permitted to refinance their first mortgages for improved interest rates up to the original first mortgage amount. Lenders must submit a refinance packet as part of the eligibility screening process.
These submissions can be emailed to emeryville@hellohousing.org.
A $482 subordination fee will be charged to the homeowner as part of the refinance process and will be due upon closing.
Seeking to Sell your BMR Home?
If you wish to sell your home, you will first need to issue Hello Housing a “Notice of Intent to Sell.”
Please email or send your NOI to:
Hello Stewardship – Emeryville Resale
PO BOX #2440
San Anselmo, CA 94979
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​​​​Hello Housing will then calculate the BMR maximum resale value to your home based on the calculation in your Resale Restriction Agreement. We can give you a preliminary maximum resale price based on a quote of your HOA dues amount at any time. However, for an official maximum resale price, you will need to email a copy of your HOA statement/bill or show proof of payment.
Once you have retained a real estate agent and executed a listing agreement, forward a copy to the City to ensure that it meets the City’s guidelines. Please refer to the BMR Marketing Guidelines for more information.
Hello Housing will send you a letter, signed by the City, acknowledging receipt of your agreement and provide you with the official maximum resale price and income limits for your unit. Your agent may place the unit on the MLS any time following receipt of this letter. For more information regarding the resale process, please email us.