Ernesto Eugenio's Blog

Many home buyers are not aware that there are properties out there that are priced way below market value, requires minimum down payment, (3.5%), and down payment assistant from the city,(about $35,000). Yes, I am talking about homes known as BMR with down payment assistant from the city. There are levels of income depending on the number of people per household to qualify. Buyer does not have to be a city, county, or government employee to qualify. As a matter of fact, the qualification and requirement is not that difficult to meet. Almost every city has a BMR program to help you, the home buyer, own a home. Most cities, like Pleasanton, Livermore, Newark, Dublin, Hayward, Union City, Livermore, and San Ramon are some that require a new development to reserve certain amount of properties per subdivision to be allocated for such program. This is one of the ways to help home buyers purchase a home without having to pay a high monthly mortgage. Recently, I was fortunate enough to have helped a home buyer with BMR purchase in Dublin. We were able to close the transaction in a short time and the monthly mortgage was the same as his rent but with the benefit of homeownership.