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San Francisco Mayor's Office of Housing and Community Development Below Market Rate (BMR) Ownership Programs

San Francisco Mayor's Office of Housing and Community Development Below Market Rate (BMR) Ownership Programs is a shared-appreciation loan for homebuyers in San Francisco, California.

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The program asks for

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • A completed homebuyer education course, through Required - MOHCD homebuyer education from homesanfrancisco.org
  • Sourced via Homebuyer Wallet (CA20250034). Income limits set annually per HUD AMI for San Francisco/Marin/San Mateo combined area. 100% AMI baseline for most BMR units; some up to 120% AMI. All household members 18+ income counted.
  • A home inside San Francisco city limits

It doesn’t cover

  • Households above 120% of area median income
  • Homes outside San Francisco

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

Income limit

120% of San Francisco County’s area median income

HUD sets the area median income each year. The limit changes with household size, so a family of five has a higher limit than a single homebuyer.

$200,800
Area median income, 4-person household (HUD, 2026)
Income limits in California

Where it applies

San Francisco’s homes

  • 18% single-family
  • 12.4% townhouse
  • 20.1% 2–4 units
  • 49.2% 5+ units
  • 0.2% mobile & other

A tick marks a kind of home the program’s record lists. The agency confirms it for the home you choose.

$1.4M

San Francisco median home value

76.5%

built before 1980

U.S. Census Bureau, ACS 2024 5-year. More about buying in San Francisco

How to apply

  1. Take a homebuyer education course

    Required by the program, through Required - MOHCD homebuyer education from homesanfrancisco.org.

  2. Contact the administering agency to reserve funds

    Funds are reserved through lottery, 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 homebuyer can take it to a lender or housing counselor.

Questions about this program

What is San Francisco Mayor's Office of Housing and Community Development Below Market Rate (BMR) Ownership Programs?

San Francisco Mayor's Office of Housing and Community Development Below Market Rate (BMR) Ownership Programs is a shared-appreciation loan for homebuyers in San Francisco, California. Inclusionary housing units sold at below-market prices via lottery. Permanent resale-price restrictions ensure homes remain affordable. Multiple AMI tiers (50%, 80%, 100%, 120%). BMR ownership program - homes sold at below-market prices to households at or below 100% of San Francisco AMI. Permanently restricted resale prices to maintain long-term affordability.

Do you have to pay it back?

San Francisco Mayor's Office of Housing and Community Development Below Market Rate (BMR) Ownership Programs 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?

San Francisco Mayor's Office of Housing and Community Development Below Market Rate (BMR) Ownership Programs is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required, through Required - MOHCD homebuyer education from homesanfrancisco.org. Sourced via Homebuyer Wallet (CA20250034). Income limits set annually per HUD AMI for San Francisco/Marin/San Mateo combined area. 100% AMI baseline for most BMR units; some up to 120% AMI. All household members 18+ income counted.

What are the income limits?

San Francisco Mayor's Office of Housing and Community Development Below Market Rate (BMR) Ownership Programs limits household income to 120% of the area median income, which varies by county and household size. Annually-set per HUD AMI for San Francisco area; ~100% AMI baseline. 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?

San Francisco Mayor's Office of Housing and Community Development Below Market Rate (BMR) Ownership Programs can be used for Single-family, Condo, Townhouse.

Where does it apply?

San Francisco Mayor's Office of Housing and Community Development Below Market Rate (BMR) Ownership Programs serves homebuyers purchasing in San Francisco, California.

How do you apply?

Applications for San Francisco Mayor's Office of Housing and Community Development Below Market Rate (BMR) Ownership Programs go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through lottery. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.

Also for San Francisco homebuyers

Whether two programs can be combined is up to each agency. Ask before you apply.

All 128 programs for San Francisco

Program terms are set by the administering agency and can change; confirm on the official site before you apply.