Below Market Rate (BMR) FAQs

    • What is the BMR Program?

      The BMR Program provides affordable housing to first-time, moderate-income homebuyers through inclusionary zoning ordinances.

    • How many properties are available through the program?

      Over 300 properties are administered by Marin Housing in the BMR Program. 

    • How frequently do units come up for sale?

      Typically, five to ten units are offered for resale annually.

    • How are prospective purchasers selected?

      A drawing is held for each available unit.

    • How can I find out what is available?

      Units will be listed on the Multiple Listing Service (MLS), MHAs website, and other marketing channels deemed appropriate by Marin Housing. 

    • Are there any restrictions attached to BMR units?

      Yes, a resale restriction agreement limits future resale profits to preserve affordability.

    • How are resale prices determined?

      Based on the original price plus the least of three calculations: Marin County's median income increase, the San Francisco Bay Area's CPI increase, or the fair market value.

    • Will the equity in my BMR unit be protected?

      Equity usually appreciates over time, albeit slower than market-rate investments. 

    • Can I rent or lease my BMR unit to someone else?

      No, continuous owner occupancy is required by the BMR deed restrictions. 

    • How do I apply for the BMR Program?

      Complete an interest form and provide proof of eligibility for any claimed preferences. 

    • What if the BMR home offered does not meet my size requirements?

      You can decline the offer but remain on the list for future opportunities.

    • Is there a first-time home buyer course requirement?

      Yes, completion of a specific course is required and a certificate must be submitted with the purchase agreement.

    • What are the financial requirements for participating in the BMR Program?

      Requirements include limits on down payments and assets, typically with a maximum down payment cap.

    • Can I purchase a BMR unit for someone else, like a family member?

      No, the occupant must be the buyer and qualify on their own merit.

    • What are the occupancy requirements for BMR homes?

      BMR homes must be owner-occupied and cannot be rented out.

    • Will my income be re-certified annually?

      Income is certified at purchase with no annual re-certification, but annual certification of owner occupancy is required. 

    • What happens if my address or contact information changes?

      Update your information with the program as soon as possible to ensure you receive all communications.

    • How do I get on the priority list for the BMR Program?

      Register your interest through the designated platform and complete any required surveys.

    • Can I apply for a preference in the selection process?

      Indicate any applicable preferences on the web form and provide necessary proof.

    • Is there a limit to gift funds I can receive for the purchase?

      No specific limit to gift funds, but the maximum down payment is often capped. 

    • How long must I live in the BMR home before I can resell it?

      Resale restrictions typically last for several years, with specific terms detailed in the deed restriction agreement.