Lottery Announcement for the 2025 Below Market Rate (BMR) Homeownership Waitlists in Alameda: Apply now!

Photo by Maurice Ramirez
Rise Housing, on behalf of the City of Alameda, is accepting pre-applications for three (3) BMR Homeownership Waitlist lotteries for 2025's income limits. A separate waitlist application and lottery will be held for Very Low-income (50% AMI), Low-income (80% AMI), and Moderate-Income (120% AMI) households. Preference points apply. Click here to learn more about this opportunity or scan the QR code below. Eligible pre-applications received by June 9, 2025, will be accepted, and included in the lottery list ranking. Eligible applications received after June 9, 2025, will be accepted, and will be placed at the end of the household’s respective income and preference category’s ranked lottery list.
PLEASE NOTE: If you applied for the previous 2024 BMR waitlist, you must reapply for the 2025 BMR waitlist if you wish to be considered for any BMR homes that become available that will utilize the City's waitlists for buyer selection. Your 2024 waitlist lottery position will not be retained and you will be reranked during the 2025 waitlist lottery held on June 12, 2025.
PREPARING FOR HOMEOWNERSHIP
- Learn about the homebuying process through online education for first-time homebuyers, such as: https://files.consumerfinance.gov/f/201503_cfpb_your-home-loan-toolkit-web.pdfand https://mgic.com/training/homebuyer-education-options
- Get pre-approved by a lender (bank, credit union, mortgage broker) to find out how much you can afford and if there are any steps that you should be taking now to prepare for homeownership in the future
- Build savings (check out: https://americasaves.org/ and https://www.mymoney.gov/)
- Pay your bills on time and reduce debt
- Review your credit report for free each year at https://annualcreditreport.com
- Get to know the market/how much properties sell for by researching your options. Websites like redfin.com, zillow.com, fanniemae.com can be a good place to start gathering information.
NOT READY TO BUY YET?
To obtain information about homes that are offered through the City of Alameda’s Inclusionary Housing Program in Alameda, please sign up for the City’s mailing list:
- Visit https://www.alamedaca.gov/RESIDENTS/Subscribe
- Select “Affordable homeownership interest list”
- Sign up for any other lists of interest on the City of Alameda website
- Enter your email address and follow the steps to be added
DOWN PAYMENT ASSISTANCE PROGRAM OFFERED BY ALAMEDA COUNTY
The Alameda County Housing & Community Development Department offers a Down Payment Assistance (DPA) program that is administered by Hello Housing. DPA funds are to help first-time homebuyers with the purchase of a home in Alameda County. Check out www.acboost.org or call (510) 500-8840 for more information about down payment assistance. Please sign up at https://www.hellohousing.org/stay_connected/ to be notified when the next application period becomes available for this program.
CALIFORNIA HOUSING FINANCE AGENCY (CalHFA)
CalHFA provides low interest rate home financing as well as down payment and closing cost assistance to low- to moderate-income homebuyers in California. CalHFA offers its loan products through a network of loan officers and mortgage brokers. For more information, please ask your loan officer or visit https://www.calhfa.ca.gov/homeownership/.
INCLUSIONARY HOUSING HOMEOWNERSHIP GUIDELINES
The City of Alameda funds and oversees the Inclusionary Housing Program, often referred to as the Below Market Rate (BMR) Program. Below is a link to the manual that describes the program guidelines and processing procedures for the BMR program. These guidelines shall be updated from time to time and are subject to final interpretation by the City.
Please click here(PDF, 303KB) to view Alameda's Inclusionary Housing Homeownership Guidelines.