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Marin Housing Authority Below Market Rate (BMR) Ownership Program

San Rafael, California

Last verified
See what you qualify forOfficial program site →
Income limit

$222,850

The household income limit the program publishes

Repayment

Shared appreciation

Settled on the terms set by the administering agency

What is Marin Housing Authority Below Market Rate (BMR) Ownership Program?

Marin Housing Authority Below Market Rate (BMR) Ownership Program is a shared-appreciation loan for homebuyers in San Rafael, California.

  • $5,000 borrower contribution required. First-Time Homebuyer status required (3-year primary residence ownership lookback). HUD-approved homebuyer workshop required. Eligibility restricted to US citizens and legal permanent residents.
  • Below-Market Rate Home program.
  • benefit calculated based on local Housing Authority discretionary limits. Repayment per Housing Authority terms at 0% interest. $5,000 minimum borrower contribution (gift funds permitted).

Do you have to pay it back?

Marin Housing Authority Below Market Rate (BMR) Ownership Program is a shared-appreciation loan and is repaid under the terms set by the administering agency.

  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Marin Housing Authority Below Market Rate (BMR) Ownership Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • On credit: Not Specified
  • A completed homebuyer education course, through HUD-approved First Time Homebuyer workshop completion certificate required
  • Citizenship or immigration status: US citizen or permanent resident
  • Sourced from Homebuyer Wallet (CA260101). $5,000 borrower contribution required (personal or gift funds). Eligibility restricted to US citizens and legal permanent residents. Asset limitations apply. Verify with provider before lender use.

The program excludes

  • Households above $222,850

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Marin Housing Authority Below Market Rate (BMR) Ownership Program limits household income to $222,850.

  • The limit applies to total household income, not only the borrower’s.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Marin Housing Authority Below Market Rate (BMR) Ownership Program can be used for Single-family, Condo, Townhouse.

Where does it apply?

Marin Housing Authority Below Market Rate (BMR) Ownership Program serves buyers purchasing in San Rafael, California.

How do you apply?

Applications for Marin Housing Authority Below Market Rate (BMR) Ownership Program go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through HUD-approved First Time Homebuyer workshop completion certificate required.

  2. Contact the administering agency to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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