TABLE OF CONTENTS
BELOW MARKET RATE (BMR) HOME BUYER PROGRAM
The City of Sunnyvale requires developers of large housing projects to sell a percentage of the homes at below market prices to low- to moderate-income households.
Interactive Map of BMR Projects in the Pipeline
BMR homes for sale are currently under construction, or will be under construction soon, in the projects shown on this interactive map.
To be notified when these homes are available for sale, please sign up on the BMR Interest List.
For a snapshot, download the list of BMR Homes Currently For Sale. To be among the first to know when BMR homes become available, sign up on our online Interest List form.
Please review the BMR program's legal documents which all buyers must sign in order to buy a BMR home. These documents, except for the promissory note and disclosure statement, will be recorded against the BMR home when you close escrow, in order to secure the program restrictions.
Call the Housing staff at 408-730-7250 if you have any questions.
How do I apply?
Attend a Homebuyer Education Workshop by a HUD-Certified Provider and submit certificate to the Housing staff within 30 days of submitting your Homebuyer Program Eligibility Application.
- Pre-qualify for a loan with a mortgage lender from the list of Qualified Participating Lenders for New Sales. Select a lender based on the following:
- If you are interested in purchasing a home from a specific Featured Development, please call the corresponding preferred lender.
- If you are interested in purchasing a BMR home not yet identified, please call any other qualified participating lender from the list.
- Contact staff at 408-730-7250 to schedule an appointment to submit a complete Homebuyer Program Eligibility Application with supporting documentation, and a $50 non-refundable fee to the City of Sunnyvale.
If you are deemed eligible, you will receive a BMR Program Eligibility Determination letter certifying your eligibility for 90 days.
I am eligible, how do I buy?
Note that a real estate agent is not necessary for the purchase a BMR home; however, you can choose to select a participating real estate professional, at your own expense.
- When a BMR unit becomes available for sale, contact the sales office at the development and schedule an appointment to view the models and see the available BMR unit. List of BMR homes currently available for sale.
- At your appointment, you must provide a copy of your City-issued BMR Program Eligibility Determination letter.
- After you have entered into a purchase contract for an available BMR unit, contact staff at 408-730-7250 to schedule an appointment to submit an Application to Purchase form with the required attachments:
- Copy of Purchase Contract signed and accepted by buyer and seller.
- Original BMR Addendum signed by buyer and seller.
- Original BMR Financing Contingency Form signed by buyer and seller.
- $500 non-refundable check or money order made payable to the City of Sunnyvale.
If approved, you will receive an Approval to Purchase a BMR Home letter.
There will be additional documentation to be submitted at least 15 days before close of escrow, until you receive the Approval to Close Escrow on BMR Home letter with final instructions. A final $500 non-refundable closing fee will be due at close of escrow.
For more information, contact the Housing staff at 408-730-7250 or email to Housing
Down payment assistance may be available to eligible applicants; however, approval to purchase a BMR home does not guarantee eligibilty for down payment assistance.
Home Buyer Presentations
Attend one of our FREE first-time homebuyer presentations and learn more about affordable housing opportunities in Sunnyvale. Download the Presentation Calendar
for quick reference. Register online, or call the Housing staff at 408-730-7250, TDD 408-730-7501, or email Housing
to RSVP, or for additional information.
Information for Lenders and Real Estate Professionals
If you are a lender or a real estate professional representing the buyer of a below-market rate home, it is important you understand the City of Sunnyvale's BMR program requirements. Before representing a BMR buyer, you must sign the City of Sunnyvale Below Market Rate Home Ownership Program Lender Participation Agreement or Realtor Participation Agreement certifying that you have read and understand our program requirements as contained in the documents listed below. If you have questions, please contact Housing Programs Analyst Lupita Gaeta at 408-730-7812 or at Housing.
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The First-Time Home Buyer (FTHB) Loan Program provides silent second down payment assistance of up to $50,000 for eligible first-time home buyers. Assistance may be used to purchase market-rate or below-market rate homes in Sunnyvale. The program is available to first-time home buyers who live or work in Sunnyvale and whose incomes do not exceed the maximum for their household size.
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Watch these short videos by the California Bureau of Real Estate to learn more about shopping for your home and your loan. Check our website frequently for new videos.
HUD-Certified Home Buyer Education Providers
Participation in any of Sunnyvale's home buyer programs requires attendance at a Fannie Mae approved home buyer education class from a housing counselor. To sign-up for a class, contact one of the providers from the list of local HUD-Certified Home Buyer Education Providers.
Qualified Participating Lenders
Participation in any of the home buyer programs requires pre-qualification for a first mortgage by a lender of your choice. You are not required to use a lender from the list of Qualified Participating Lender for New Sales provided by the City of Sunnyvale, however, new developments typically have a preferred lender of their choice.
Housing Trust Silicon Valley
Housing Trust Silicon Valley is a nonprofit organization that provides loans to low- and moderate-income home buyers throughout Santa Clara County in the form of low-interest, second mortgages and down payment assistance. Pre-approval form for Home Buyer Assistance from the Housing Trust Silicon Valley.
California Housing Finance Agency (CalHFA)
CalHFA offers low interest rate first mortgage programs and a variety of down payment assistance programs to eligible low- and moderate-income first-time home buyers in California.
Freddie Mac was chartered by Congress in 1970 to provide liquidity, stability and affordability to the nation's housing market. Today Freddie Mac is making home possible for one in four homebuyers and is one of the largest sources of financing for multifamily housing. Freddie Mac offers a variety of homebuying educational resources.
If you are considering buying a home, your credit score will affect your ability to get a home loan and purchase your first home. Credit counseling services are available from the following HUD-certified agencies to prepare you for your first home.
1490 El Camino Real
Santa Clara, CA 95050
|Neighborhood Housing Services of Silicon Valley
1156 North Fourth Street
San Jose, CA 95112
|Consumer Credit Counseling Service of San Francisco
595 Market Street, 15th Floor
San Francisco, CA 94105
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