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- Below Market Price (BMP) Homes
Below Market Price (BMP) Homes
BMP Homes for Sale
At this time, there are no BMP homes for sale. To be notified when a BMP home is available, please sign up for the City's First Time Homebuyer Program Interest List.
Eligibility Requirements
To be eligible to purchase a BMP home, applicants must be a US citizen or permanent resident and may not have owned a home within the last three years. Applicants must also currently live or work in Fremont.
The applicant's annual household gross income (before taxes) must meet the minimum and maximum limits listed below. For example, a 3-person household must earn at least $98,650 and no more than $135,660 a year before taxes to be eligible. The maximum income limits are subject to change based on the home for sale. Applicants with incomes close to the limits are still encouraged to apply.
Income Requirements
The applicant's annual household gross income (before taxes) must meet the minimum and maximum limits listed below. For example, a 3-person household must earn at least $98,650 and no more than $135,660 a year before taxes to be eligible. The maximum income limits are subject to change based on the home for sale. Applicants with incomes close to the limits are still encouraged to apply.
- 3 person household: $98,650 - $124,355
- 4 person household: $109,600 - $138,160
- 5 person household: $118,400 - $149,215
- 6 person household; $127,150 - $160,270
- 7 person household: $135,950 - $171,325
Application and Loan Requirements
To make an offer on a BMP home, applicants must take the following steps:
- Realtor: It is recommended for the applicant to work with their own personal realtor to submit an offer. The applicant cannot be represented by the listing realtor. If the applicant needs a realtor, the City has a list of realtors experienced with the BMP program for reference. For this list of realtors, please contact the Housing Division by email. For all other questions, please contact the listing realtor.
- City's BMP Application: Applicants must complete the City's BMP Application and have their realtor submit it to the listing realtor for the property. Please do not submit the application to the City.
- Loan Pre-Approval Letter: Applicants must also obtain a loan pre-approval letter from a City Approved Lender and have their realtor submit it to the listing realtor for the property. To apply for a loan pre-approval letter, applicants must submit a number of documents to the lender. See our list of documents. Applicants should give lenders at least 7-10 days for loan pre-approval.
- U.S. Department of Housing and Urban Development (HUD) First Time Homebuyer Certificate: This certificate is not required to apply for a BMP home, but if an applicant is selected, it is required to purchase the home. For that reason, it is recommended that applicants obtain this certificate before applying for a BMP home and requesting loan pre-approval from one of the City’s approved lenders. The certificate is valid for up to one year. View a list of local agencies who provide certification.
- Duplicate offers from the same household will be disqualified.
Frequently Asked Questions (FAQs)
For more detailed information about BMP homes, how to qualify, and how to apply, please read the City's BMP Homes FAQs.
Interest List
If you would like to be notified when a BMP home is available for purchase, please sign up for the City's First Time Homebuyer Program Interest List. Please note that the interest list is not an application wait list. It is an "interest list" only.