BMR Homeownership
A path to affordable ownership for first-time homebuyers.
How It Works
The City of Campbell’s Below Market Rate (BMR) Homeownership Program helps income-qualified households purchase a home at a reduced price.
BMR homes are deed-restricted, meaning they are intended to remain affordable over time. In exchange for the lower purchase price, homeowners agree to specific rules related to occupancy, resale, and refinancing—typically for a term 45-55 years.
This program is designed for first-time homebuyers who are ready to purchase, occupy the home as their primary residence, and comply with long-term affordability requirements.
Key Program Guidelines
- Below Market Value: Homes are sold at restricted prices.
- Primary Residence: You must live in the home (no renting out).
- Shared Appreciation: You build restricted and/or shared equity.
- Deed Restriction: Rules stay with the home for 45+ years.
- Preferences: Local priorities may apply but are not required.
- Annual occupancy recertification: Owners must verify residency yearly.
Eligibility & Income Limits
To qualify, applicants must meet requirements established by the City of Campbell. Income limits are based on Santa Clara County Area Median Income (AMI), as established by California Department of Housing and Community Development.
General Requirements
- First-Time Homebuyer: No homeownership in the past 3 years.
- Income Eligible: Household income must be within HCD limits.
- Assets: Sufficient funds for down payment (usually 3%) + closing costs. Asset limits apply.
- Financing: Ability to qualify for a mortgage with an approved lender.
- Household Size: Must meet minimum occupancy standards (e.g., 3 people for a 3-bedroom).
Preferences
When lotteries are held, applicants are ranked by preference:
- Displaced by Demolition Households
- City of Campbell Employees (up to 10%)
- Live in Campbell
- Work in Campbell
The Homeownership Process
From notification list to getting your keys.
Upcoming Homebuyer Workshops
Attending a homebuyer workshop is a required step for most BMR lotteries. All workshops are held virtually via Microsoft Teams. Register for an upcoming session below.
Current Opportunities
Future Opportunities
New resale and construction opportunities are expected in late 2026.
The best way to ensure you don't miss out is to join the notification list.
Join Notification ListResources
Access guidelines, legal documents, and specific program information for City of Campbell housing initiatives.
Existing Homeowners
-
Refinance/Payoff requestsComplete Form
-
Homeownership MonitoringComplete Form
Don't Miss the Next Opportunity
Join the notification List to receive email notifications when new ownership lotteries open.