Below-Market Rate Homes at Artero
Hello Housing is pleased to be managing the sale of 8 Below-Market-Rate (BMR) homes on behalf of the City of Livermore. The sales prices are set to be affordable to low-income (80% AMI) and moderate-income (120% AMI) households and income limits apply. There will be three homes offered to low-income households for $223,074 and five homes will be offered to moderate-income households for $393,984. Each home will have recorded resale restrictions. All of the BMR homes being offered are 3-bedroom, 2.5 bathrooms. Eligible households must be first time homebuyers and have at least three people who have lived together for at least 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.
THE PRE-APPLICATION PERIOD IS NOW CLOSED
Please note that all BMR homes at Artero have been sold to qualified buyers. If you are interested in future BMR opportunities in Livermore, click the orange box to register for our Stay Connected E-Newsletter to be notified of future BMR opportunities in Livermore and other cities in the Bay Area.
Over 200 households submitted a Pre-Application Form with over 200 households meeting the preliminary screening criteria. A lottery was held to establish the ranking order for (1) inviting households to attend a mandatory workshop (2) submitting a complete application with supporting documentation and (3) being offered the home to purchase.
The ranking order is available HERE. The results are anonymous, so each household must match their lottery number with their ranking order.
Please note that you may register with Stay Connected to be notified of other affordable sale opportunities in Livermore and throughout the Bay Area.
Features and Amenities at Artero
KB Homes is committed to creating a vibrant community at Artero:
- Unique style townhomes featuring 3 bedrooms and 2.5 bathrooms
- Living space of approximately 1,710 square feet
- Private 2-car garages
- Conveniently located next to I-580
- Adjacent to Springtown golf course
- Close to ACE commuter train
Learn more about what’s happening at Artero,
Preference Point Criteria
Applicants can qualify for up to 10 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. Priority will be given to those groups with the highest preference point total (from highest to lowest). For instance, no household with 3 preference points will be ranked higher on the waitlist than a family with 4 preference points. PLEASE NOTE that there are exclusions to these 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.
Preference Point Criteria:
- Credentialed Teachers employed by the Livermore Valley Joint Unified School District – 2 points
- City of Livermore Emergency Responder – 2 points
- City of Livermore Resident – 2 points
- Work in the City of Livermore – 2 points
- Tenant of a Rent Restricted Unit in the City of Livermore – 1 point
- U.S Military Veteran – 1 point
|Household Size||Income Limit at 80% AMI||Income Limit at 120% AMI|
|1 person||Not eligible||Not eligible|
|2 people||Not eligible||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 Livermore’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 Homes and the City of Livermore 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.