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Below Market Price (BMP) Homes
BMP Homes for Sale
4080 Fennel Terrace
There is a 3 bedroom, 2 bath home available for purchase. The address is 4080 Fennel Terrace in the Irvington area of Fremont. The purchase price is $435,380. The household size for this home must be between 3 and 7 persons. For more information, please view the following:
Property Flyer
If you are interested in this property, please view the requirements below and contact the listing realtor, Lissette Miranda, by email or by calling 925-588-9392. The realtor will be responsible for scheduling showings, accepting applications, and handling the sales transaction. The deadline to submit an offer is Thursday, August 12, 2021 at 12:00 p.m. Duplicate offers from the same household will be disqualified.
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.
- HUD First Time Home Buyers Certificate: It is highly recommended for applicants to have a HUD First Time Home Buyers Certificate to receive loan pre-approval in a timely matter from a City approved lender. Certificates are accepted for the City's BMP program for up to a year. View a list of local agencies who provide certification.
- Duplicate offers from the same household will be disqualified.
Interest List
If you would like to be notified when a BMP home is available for purchase, please sign up for our First Time Homebuyer Program Interest List. Please note that the interest list is not an application wait list. It is an "interest list" only.