Oaktown Roots relies on a pool of “Preferred Lenders” who are able to provide a first mortgage for buyers. Each Preferred Loan Officer working with our applicants, is required to review the Affordability Agreement and confirm that your Lending Institution is able to underwrite to the City of Oakland’s Below Market Rate Program.
Additionally, buyers that decide to submit an offer for an Oaktown Roots home must be pre-approved for a first mortgage at the time of application.
Buyer Eligibility Requirements
- Households must be able to qualify for a 30-year, fixed rate mortgage
- All households must earn at or below 120% of the Area Median Income
- Debt-to-Income ratio must be below 45%
- The minimum household size is three for three-bedroom homes and four for four-bedroom homes
Key Documents for Lenders
We encourage you to review the following key documents:
City of Oakland Affordability Agreement
City of Oakland Verification of Eligibility
Application Instruction Package (for Lenders)
Lender Best Practices Handout
Frequently Asked Questions
Program Income Limits
|Household Size||Income Limit at 120% AMI|
|1 person||Not Eligible|
|2 people||Not Eligible|
Hello Housing, Presidio Realty Advisors, LLC, Silvermark Construction Services, Construction Resource Center and the City of Oakland 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.