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City of Alameda 2024 BMR Waitlist Ownership Application

Rise Housing Solutions is pleased to announce that the City of Alameda is moving to a general waitlist and will be managing the waitlist, application and buyer selection process for the Below Market Rate (BMR) homes on behalf of the City of Alameda.

There will be three separate waitlist applications. Households are welcome to apply for all waitlists: Very Low-Income, Low-Income and Moderate-Income. These waitlists will be used to identify purchasers of all BMR units for 2024. A lottery for each waitlist will be held in October 2024. These waitlists will be used to fill any available BMR Homes that come up for sale, tentatively until July 2025 or 30 Days after HCD releases the 2025 income limits, whichever comes first.

Please read through all of the information. Throughout the application period, there will be three application buttons available, which will direct you to the application page.

APPLICATION DETAILS

October 10, 2024 Update - On October 8, 2024, a lottery was held for all eligible applications submitted during the application period. The results were emailed to all households and can also be found here for the following Waitlists: Very low-income, Low-income and Moderate-Income. Applicants will be invited, in ranking order, to submit full applications with supporting documents when a home becomes available. This lottery list will be used to identify purchasers of all BMR units until 30 days after the State of California Housing and Community Development releases their 2025 income limits, which will tentatively be in July of 2025. Households who are invited to submit full applications will be required to demonstrate they have at least a 3% down payment and be able to qualify for mortgage financing for the purchase price of the home. Please note: There are currently no homes available for purchase, this lottery is to maintain a general waitlist for any new homes that may become available within the City of Alameda.

If you require a paper application, please reach out via email or phone (415) 301.5448 to have a paper application emailed or mailed to you. The application period for the 2024 waitlist lottery has now closed. However, all households are still welcome to apply but they will be placed at the end of your household’s respective income and preference category.

Rise Housing Solutions and the City of Alameda do not discriminate against any persons on the grounds of race, color, religion, national origin, ancestry, sex, gender, gender identity, gender expression, sexual orientation, marital status, familial status, source of income, genetic information, medical condition, physical disability or mental disability, or any other category protected by law.