Below Market Rate (BMR) Eligibility

These detailed eligibility criteria are designed to ensure that the BMR program serves its intended purpose: providing affordable homeownership opportunities to low and moderate-income individuals and families who are first-time buyers. The criteria are structured to maintain fairness, prioritize those in greatest need, and support the overall goal of building a diverse and sustainable community. 

Household Income: Eligibility is primarily based on the applicant's household income. Applicants' total annual gross income, including all sources of income, must not exceed predetermined limits for each Below Market Rate unit relative to the Area Median Income (AMI) for Marin County. 

Household Assets: The program also considers the value of the applicants' assets. For households with assets exceeding $100,000, ten percent (10%) of the asset value is added to the household annual income for eligibility determination. Assets include bank accounts, investments, and other significant liquid assets. Certain assets, such as funds necessary for the well-being and care of family members, may be excluded from this calculation. 

Income Limits: The income limits are updated annually and published on the Marin Housing website. Limits categorized into three Area Median Income (AMI) limits: Low Income at 65% AMI, Low Income at 80% AMI or Moderate Income at 120% AMI. The income limits for the BMR program are derived from the U.S. Department of Housing and Urban Development's (HUD) median household income for a family of four in the San Francisco HMFA (Housing Market Fair Area) and are adjusted for household size. Follow this link to find Marin County’s up to date income limits.

Household Size: The household size of applicants must be appropriate for the size of the BMR unit available to ensure efficient use of the housing stock and prevent overcrowding or underutilization of the units. The specific criteria for household size may vary depending on the unit and the guidelines set forth by Marin Housing (e.g., ADA units). 

• Studios: 1 or more person(s) households. 
• 1 Bedrooms: 1 or more persons households. 
• 2 Bedrooms:  2 or more persons households. 
• 3 Bedrooms:  3 or more persons households. 
• 4 Bedrooms:  4 or more persons households. 

First-Time Homebuyer Requirement: Applicants must not have owned a primary residence in the past three years. This criterion ensures that the program benefits genuine first-time homebuyers who are looking to establish their first permanent residence. 

Mandatory HUD Certified Counselor Workshop: Applicants are required to complete a HUD-approved First Time Homebuyer Education workshop and obtain a certificate of completion. This course covers essential topics including preparing for homeownership; available financing sources and credit analysis; loan closing and homebuyer responsibilities; and home maintenance and loan servicing. A list of commonly used providers can be found at HUD- Approved Homeowner Counseling Agencies, and comprehensive list of providers nationwide are available on HUDs website. 

Income and information Verification: Applicants will be asked to provide detailed information and documentation about their household income, including employment income, pensions, social benefits, and other relevant income sources in order to be selected. This information is subject to verification by Marin Housing. 

Citizenship Requirements: To be eligible to purchase a Below Market Rate (BMR) home, households must include U.S. citizens or legal permanent residents.  

Owner Occupancy Requirement: Plan to use the BMR unit as your principal residence, as these units must be owner-occupied and cannot be used as investment properties.

Titleholder Requirements: All adults in the household over the age of 26 must be on title to BMR property and party to the Resale Restriction Agreement (with some limited exceptions).