City of Emeryville’s Below Market Rate Ownership Program

Hello Housing is pleased to be administering and monitoring the City of Emeryville’s Below-Market-Rate (BMR) Ownership Program. As part of our program management activities, Hello Housing will assist aspiring homebuyers qualify to purchase a BMR home and existing homeowners or FTHB loan recipients interested in selling, refinancing or making capital improvements to their home. Please see below for guidelines and requirements. We look forward to serving the great residents of the City of Emeryville!

The City has two programs to assist with affordable homeownership for income eligible households:

  1. The Below Market Rate (BMR) Homeownership Program for BMR units and
  2. The First Time Homebuyer Loan Program, a downpayment assistance program for Market rate units

Program Guidelines for Refinancing

If you are a homeowner and wish to refinance you will first need to direct your lender to email us. Hello Housing will provide the lender a refinance checklist and any other documentation requested. Sample subordination and program documents are available for lenders upon request to help determine if the 1st loan can work in conjunction with the City of Emeryville’s Homebuyer Program.

The City of Emeryville will allow its residential loan recipients to refinance their first mortgages in an amount no more than the original first mortgage amount. Repayment of liens currently in a position junior to the City’s existing lien will only be allowed if the principal for the resulting new senior financing is an amount equal to or below the original first mortgage amount.

Lenders will be required to submit a refinance packet to Hello Housing as part of the refinance eligibility screening.  Refinance package submittals can be emailed to

A $441 subordination fee will be charged to the homeowner and due to the City of Emeryville prior to review of the subordination packet.  If the subordination packet is not approved, the City of Emeryville will return the $452 fee to the homeowner.

Program Guidelines for Sale

Please note that the resale restrictions of your home are outlined in the Resale Restriction Agreement made between you and the City of Emeryville at the time you purchased the home. If you wish to sell your home, you will first need to issue Hello Housing a “Notice of Intent to Sell.” Please email or send your  NOI to:

Hello Stewardship – Emeryville Resale
P.O. Box 423690
San Francisco, CA 94142

Hello Housing will then calculate the BMR maximum resale value to your home based on the calculation in your Resale Restriction Agreement. We can give you a preliminary maximum resale price based on a quote of your HOA dues amount at any time. However, for an official maximum resale price, you will need to email a copy of your HOA statement/bill or show proof of payment.

Once you have retained a real estate agent and executed a listing agreement, forward a copy to the City to ensure that it meets the City’s guidelines.  Please refer to the BMR Marketing Guidelines for more information The City will send you a letter acknowledging receipt of your agreement and provide you with the official maximum resale price and income limits for your unit.  Your agent may place the unit on the MLS any time following receipt of this letter. For more information regarding the resale process, please email us.

Resources to help get you started

Notice of Intent to Sell (for existing owners)

Other Helpful Resources

BMR Ownership Program Guidelines

BMR Marketing Guidelines




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.