Below-Market Rate Homes at The Vista at Wellington Heights and The Village
Hello Housing is pleased to be managing the sale of 11 Below-Market-Rate (BMR) homes on behalf of the developer, KB Home. These homes are located at two different developments, both in Daly City. Six BMR townhomes are being sold at The Vista at Wellington Heights and five BMR townhomes are being sold at The Village. Prices range from $354,090-$436,382. HOA dues range from $300-$345/month. Each home will have recorded resale restrictions to ensure these homes remain affordable for future generations.
Learn about homes for sale at The Vista at Wellington Heights.
Learn about homes for sale at The Village.
KEY PROGRAM ELIGIBILITY GUIDELINES:
- Eligible households must have at least one person per bedroom and all household members must have lived together for six months at time of application.
- Households must have at least a 3% down payment and be able to qualify for a 30-year, fixed rate mortgage.
- Income limits apply (see Income Limits table to the right). Gross income from all household income sources will be considered.
- Your income must be sufficient for you to qualify for mortgage financing for the purchase price of the home.The sales prices are set to be affordable to moderate-income households as shown on each development’s webpage (links below). A loan pre-qualification letter will be required at a later stage of the application process and applicants will be given a list of preferred lenders who are familiar with the Daly City BMR Program.
- You can earn a preference point by currently living or working in the incorporated city limits of Daly City. See the Live/Work Preference Point section below for more details.
THE PRE-APPLICATION PERIOD IS NOW CLOSED.
Please note that if you missed the pre-application period there will not be another opportunity to apply to the BMR homes at The Vista at Wellington Heights and The Village. 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 opportunities in the Bay Area.
The ranking order from the lottery held on September 14, 2016 is available HERE. The results are anonymous, so each household must match their lottery number with their ranking order.
Live/Work Preference Point
Applicants can qualify for up to one preference point for having a household member currently working or living in Daly City. 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 homes.
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.
|Household Size||Income Limit at 120% AMI|
|1 person||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, KB Home 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.