THE PRE-APPLICATION PERIOD IS NOW CLOSED
Please note that if you missed the June 30, 2017 pre-application deadline there will not be another opportunity to apply to the BMR homes at Andares. If you are interested in future BMR opportunities in the City of Pleasanton, or the surrounding Bay Area, click on Stay Connected to subscribe to our E-Newsletter.
The ranking order from the lottery is available here. The results are anonymous, so each household must match their lottery number with their ranking order.
Below Market Rate Homes at Andares
Hello Housing is pleased to be managing the sale of 10 Below Market Rate (BMR) homes on behalf of the developer, SummerHill Homes. Located on West Las Positas and Hacienda in Pleasanton, sales prices are set to be affordable to low-income (80% AMI) households and income limits will apply. Prices are set at $265,000, with HOA dues at $211/month. Each home will have recorded resale restrictions to ensure these homes remain affordable for future generations.
Please note, prices are based on dynamic factors including current interest rates, HOA dues, assessments or property tax rates, and Area Median Income limits, which are subject to change.
If you are interested in this development, future BMR opportunities in the City of Pleasanton, or the surrounding Bay Area, click on Stay Connected to subscribe to our E-Newsletter.
- Eligible households must live together at time of application.
- All adults must be first-time homebuyers.
- Homebuyers must have sufficient creditworthiness to qualify for a first mortgage. Creditworthiness includes: a) not having filed bankruptcy in the last three years; and b) minimum FICO credit rating of 660 points.
- Households must have at least a 3% down payment. The requirement of seasoned down payment funds may be waived at the City of Pleasanton’s discretion.
- Households must be able to qualify for a 30-year, fixed rate mortgage.
- All applicants must be U.S. citizens or lawfully permitted for permanent residence.
- All households must earn below 80% of the Area Median Income.
Pleasanton Preference Point Criteria
Applicants can qualify for up to a maximum of 21 preference points based on the criteria below. All applicants will be grouped based on the total number of preference points the household earns through any combination of preference point criteria. PLEASE NOTE that for this particular home, in addition to the preference points published in the Affordable Homeownership Guidelines, an additional bonus preference point is available to applicants that have a household member that has a permanent disability that can benefit from the installed stair lift. Priority will also be given within each preference point group to households that meet this disability criteria. Also, there are exceptions to the preference point criteria which are listed in the Preference Point section of the Affordable Homeownership Guidelines and all preference points will be verified during the application process for those households invited to apply.
Preference Point Criteria:
- 20 Points: At least one adult household member currently Lives and Works in the City of Pleasanton and has done so for two or more years.
- 18 Points: At least one adult household member currently Lives and Works in the City of Pleasanton and has done so for less than two years.
- 16 Points: At least one adult household member currently Lives or Works in the City of Pleasanton and has done so for more than two years.
- 14 Points: At least one adult household member currently Lives or Works in the City of Pleasanton and has done so for less than 1 year.
- 12 Points: At least one adult household member has an immediate family member who currently Lives in the City of Pleasanton and has done so for at least the 2 years prior to time of application.*
- 10 Points: All others who do not qualify for the above preference point criteria.
One bonus point will be given to households who qualify for one, any, or all of the below points.
- 1 Point: Single Parent Head of Household.**
- 1 Point: Disabled Person Head of Household.***
- 1 Point: At least one adult household member has lived in the City of Pleasanton for 7 continuous years or longer prior to the time of application.
*”Immediate Relative” is defined as a son, daughter, brother, sister and/or a parent.
**”Single Parent Head of Household” is defined as a biological or adoptive parent or guardian having legal and physical custody of a child under the age of 18, who will be living in the affordable home.
***”Disabled Person” is defined as a head of household who has a medically documented permanent physical or mental impairment which prevents him/her from maintaining full time regular employment.
Program Income Limits
|Household Size||Income Limit at 80% AMI|
|6 people||Not Eligible|
|7 people||Not Eligible|
Features and Amenities
SummerHill Homes is committed to creating a vibrant community at Andares:
- Located within the highly rated Pleasanton Unified School District
- Commuter friendly location; near both interstate 580 and 680 as well as the Dublin/Pleasanton BART station
- Close to restaurants, shopping, outdoor amenities and parks
Learn more about the homes
The Application Process
Buying a home, especially in the Bay Area, is an emotional journey. And because of the scarcity of affordable homes for sale, the competition to buy an affordable home in today’s market can be tremendous. Our goal is to create a qualification process that meets the City of Lafayette’s program requirements AND is respectful of your time. With this in mind, we have broken the application process down into a few key steps.
What to Expect
Hello Housing, SummerHill Homes, and the City of Pleasanton do not discriminate against any persons on the grounds of race, color, religion, national origin, ancestry, sex, gender, gender identity, gender expression, sexual orientation, marital status, familial status, source of income, genetic information, medical condition, physical disability or mental disability, or any other category protected by law.