• For Home Buyers

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Housing Division
456 W. Olive Ave.
Sunnyvale, CA 94086
(408) 730-7250

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Housing Division

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Housing Assistance For Home Buyers

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.

2014 BMR Qualifying Income Limits

Review the New Below Market Rate Home Ownership Guidelines

FEATURED HOMES IN DEVELOPMENT FOR SALE

 New Taylor Morrison's Willow Development
 

 1173 Buttercup Ter
2BR | 2.5BA

 

$344,700

 1190 Buttercup Ter
4BR | 3.5BA

   $439,200

SummerHill Homes
Las Palmas Development
More Coming Soon

 Starting at
$399,984

For more pictures and information about BMR homes currently for sale, visit our gallery on Postlets.com at sunnyvalebmr.postlets.com;  for a snapshot, download the list of BMR Homes Currently For Sale; sign up on our online Interest List form and you will be among the first to know when BMR homes become available.

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 disclosure statement, will be recorded against the BMR home when you close escrow, in order to secure the program restrictions.

Buyer's Disclosure Statement

Occupancy, Resale, and Refinancing Restriction Agreement, with Option to Purchase at Restricted Price

BMR Homeowner Deed of Trust and Security Agreement

Call Housing staff at (408) 730-7250 if you have any questions.

How do I apply?

  1. Pre-qualify with a mortgage lender. This list of Participating Lenders is provided by the City of Sunnyvale. It includes preferred lenders for new developments, if purchasing a new home. However, in some instances, you can pre-qualify with any lender of your choice.
  2. Attend a  Homebuyer Education Workshop by a HUD-Certified Provider to receive a certificate. 
  3. Contact staff at (408) 730-7250 to schedule an appointment to submit your 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

  1. 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.
  2. At your appointment, you must provide a copy of your City-issued BMR Program Eligibility Determination letter.
  3. 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 Housing staff at (408) 730-7250 or email to housing@sunnyvale.ca.gov

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. Download the 2014 calendar for quick reference.  Learn more about affordable housing opportunities in Sunnyvale. Call Housing staff at (408) 730-7250, TDD (408) 730-7501, or email housing@sunnyvale.ca.gov

Eventbrite - First-Time Homebuyer Presentation

Online Interest List Form

Be among the first to know when BMR homes become available for sale. Submit the online Interest List form to be notified when applications for available BMR homes are being accepted, and to receive program updates and notices of other affordable housing opportunities.

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@sunnyvale.ca.gov.

Lender Participation Agreement
Realtor Participation Agreement
Sunnyvale Municipal Code
Below Market Rate Home Ownership Guidelines
 
BMR Homeowner Deed of Trust and Security Agreement
 
Occupancy, Resale, and Refinancing Restriction Agreement, with Option to Purchase at Restricted Price
 
Buyer's Disclosure Statement

First-Time Home Buyer (FTHB) Program Guidelines

FIRST-TIME HOME BUYER DOWN PAYMENT ASSISTANCE LOAN PROGRAM

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.

2014 BMR QUALIFYING INCOME LIMITS

HOME BUYER RESOURCES

Watch these short videos by the Department of Housing and Urban Development (HUD) 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 HUD-certified housing counselor. Contact one of the providers from the list of local HUD-Certified Home Buyer Education Providers to sign-up for a class.

Local Mortgage 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 local mortgage lenders provided by the City of Sunnyvale.

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

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.

Credit Counseling

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.
Project Sentinel
1490 El Camino Real
Santa Clara, CA 95050
(888) 324-7468
mediate4us@housing.org www.housing.org
Neighborhood Housing Services of Silicon Valley
1156 North Fourth Street
San Jose, CA 95112
(408) 279-2600
www.nhssv.org
Consumer Credit Counseling Service of San Francisco
595 Market Street, 15th Floor
San Francisco, CA 94105
(800) 777-7526
www.cccssf.org

DRE Playlist
 

City of Sunnyvale

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8 a.m. until 5 p.m.

(408) 730-7500

  • Sunnyvale City Hall
  • 456 W. Olive Ave.
  • Sunnyvale, CA 94086
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