Below Market Rate (BMR) FAQs

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

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

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

A drawing is held for each available unit.

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

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

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.

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

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

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

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

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

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

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

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

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

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

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

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

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

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