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Below-Market Rate Homes for Sale in Pleasanton

Homebuyers who previously benefited from the City of Pleasanton’s Below-Market Rate (BMR) programs can pass along the opportunity to the next owner when they sell their home. This ensures that there will be affordable housing available for future generations of Pleasanton residents. Sign up for our Stay Connected newsletter to learn about BMR homes for sale in the City of Pleasanton and other opportunities in the Bay Area.

Existing Homes for Sale

5807 Sterling Greens Circle (Sale Pending)

Price: $288,283
HOA Dues: $52/month
Bedrooms: 3
Bathrooms: 2
Area Median Income Level: up to 80% AMI

Learn more about the home

Download the Marketing Flyer

How to Apply

The application period is now closed. A lottery was held on June 4, 2018, 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.

 Eligibility Requirements

  • Eligible households must have at least three household members to qualify for this home.
  • All household members must be first-time homebuyers and live together at time of application.
  • 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.
  • 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 ranked based on the total number of preference points the household earns through any combination of preference point criteria. For more information on the City of Pleasanton’s preference points, please review the Resolution Establishing Preference Points and the Affordable Homeownership Guidelines. Please note, 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.

Bonus Points:

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.

Download Full Preference Point Criteria, Definitions and Exceptions

Program Income Limits

(effective May 1, 2018)

Household Size Income Limit at 80% AMI
1 person Not Eligible
2 people Not Eligible
3 people $75,150
4 people $83,500
5 people $90,200
6 people $96,900
7 people $103,550

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 Pleasanton’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

Non-Discrimination Policy

Hello Housing 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.

HELLO HOUSING IS A
PROUD AFFILIATE OF

Matt Franklin, President of MidPen and Hello Housing board president, believes everyone deserves quality, affordable housing.

Michelle is a proud new homeowner who purchased a Hello Housing NSP home in San Lorenzo.

Board Member Rick Jacobus is a national expert using data, not anecdote, to design more impactful affordable homeownership programs.

Mardie Oakes, President, blends finance, design and development to make places people thrive.

Jennifer Duffy, Vice President, turns opportunity into action with the Hello Housing team.

Apple lives in a new type of housing made possible by Senate Bill 962, sponsored by former Senate pro Tem Darrell Steinberg.

Larry shares a duplex with two housemates in an innovative residential program called the Family Teaching Model.

Tien is a proud new owner of an affordable home in Newark, as well a box full of tools to make home repairs easy.

Matt Warner, Program Director for Hello Stewardship, makes affordable homeownership happen.