Below-Market Rate Homes at Crestview Estates
Hello Housing is pleased to be managing the sale of 12 Below-Market-Rate (BMR) homes on behalf of the developer, Lennar. The sales prices are set to be affordable to moderate-income households and income limits apply. The first eight homes are for sale for $469,878. The prices for the remaining four homes will be published at a later date. Each home will have recorded resale restrictions to ensure these homes remain affordable for future generations. All of the BMR homes being offered are 4-bedroom and eligible households must have at least four people who have lived together for six months at time of application. Households must have at least a 3.5% down payment and be able to qualify for a 30-year, fixed rate mortgage.
THE PRE-APPLICATION PERIOD IS NOW CLOSED.
Please note that all BMR homes at Crestview Estates have been sold to qualified buyers. If you are interested in future BMR opportunities in Daly City, click the orange box to register for our Stay Connected E-Newsletter to be notified of future BMR Opportunities in Daly City and other cities in the Bay Area.
Over 300 households submitted a Pre-Application Form with over 250 households meeting the preliminary screening criteria. Over 230 households qualified for one preference point. Due to the large volume of applicants for a small number of homes, Hello Housing only drew those households with one preference point. This does not mean households with no preference point are excluded from the program, just that Hello Housing will need to get through all of the one-preference point households and still have homes remaining before we would move to households with no preference point. The lottery has established the ranking order for (1) inviting households to attend a mandatory workshop (2) submitting a complete application with supporting documentation and (3) being offered a home to purchase.
The ranking order for households with zero preference points from the lottery held on February 24, 2016 is available HERE. The results are anonymous, so each household must match their lottery number with their ranking order.
The ranking order for households with one preference point from the lottery held on October 7, 2015 is available HERE.
Features and Amenities at Crestview Estates
Lennar is committed to creating a vibrant community at Crestview Estates:
- Impressive single family homes featuring 4 bedrooms and 3 bathrooms
- Living space of approximately 1,999 square feet
- Private 2-car garages
- Boasts breathtaking views of Northern California landmarks such as the Golden Gate Bridge, the San Francisco Bay, Twin Peaks and the Pacific Ocean
- Unbeatable proximity to San Francisco, Highway 1, Highway 280 and BART
- Adjacent shopping, dining, tennis courts and Mussel Park.
Learn more about what’s happening at Crestview Estates,
Live/Work Preference Point
Applicants can qualify for up to one preference point for having a household member currently working or living in Daly. All applicants with a preference point will be drawn at the lottery before applicants with no preference points. Therefore all preference point applicants will get ranked higher on the waiting list for units.
To qualify for the “Live or Work” preference point:
- A member of the household must work a minimum of 20 hours per week for a business within the corporate city limits for an employer who has a City of Daly City business license; or
- Households whose income is based on retirement or disability income must be able to provide documentation showing that this income is based on previous employment within the city limits to receive this preference point; or
- A household must have a primary residence (residential dwelling unit) within the city limits.
- PLEASE NOTE that employees who are employed as contract or temporary employees are not eligible for this preference point unless they have a primary residence within the incorporated city limits. Also, this preference point will be verified at time of application.
Income Limits (subject to change March 2016)
|Household Size||Income Limit at 120% AMI|
|1 person||Not eligible|
|2 people||Not eligible|
|3 people||Not eligible|
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 Daly City’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
Learn more about the homes
Hello Housing, Lennar and the Daly City 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.