2025 Below Market Rate (BMR) Homeownership Waitlists in Alameda
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 must be submitted for Very Low-income (50% AMI), Low-income (80% AMI), and Moderate-Income (120% AMI) households. Preference points apply.
Eligible pre-applications that were received by June 9, 2025, were 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 re-ranked on the 2025 waitlist.
Home Buyer Assistance Programs
Down Payment Assistance Program
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 Hello Housing to be notified when the next application period becomes available for this program.
Low Interest Rate Home Financing, Down Payment & Closing Cost Assistance
The California Housing Finance Agency (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 CalHFA's website.
Not Ready to Buy Yet?
Preparing for Homeownership
- Learn about the home-buying process through online education for first-time homebuyers, such as the CFPB's step-by-step guide or the MGIC's 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! If you don't know where to start, there are financial literacy resources available from America Saves and MyMoney.gov.
- Pay your bills on time and reduce debt.
- Review your credit report for free each year through Annual Credit Report.
- Get to know the market/how much properties sell for by researching your options. Websites like Redfin, Zillow, and Fannie Mae can be a good place to start gathering information.
Affordable Homeownership Interest List
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 the City's newsletter page.
- Enter your email address at the top of the page.
- Scroll to "Housing & Human Services" and select “Affordable homeownership interest list”
- Review the data privacy policy and if you consent, check the box and click "Next."
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. The Inclusionary Housing Homeownership Guidlines manual(PDF, 303KB) 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.