Buy a home at a below market rate price

First time homebuyers can buy a home in San Francisco at below market rate (BMR) prices.

What to do

1. Decide if you want to apply

You will need some money saved up for downpayment and closing costs. Generally, downpayment is 3% of the sales price. Closing costs can be 2 to 3% of the sales price.

Before you can apply, you must do homebuyer education and get a mortgage loan preapproval letter from an approved lender.

2. Apply for listings

Each listing has a deadline. Check income requirements for each listing.

3. See lottery results on your listing

Each listing contains a lottery date. We post results to the listing no later than 1 week after the lottery.

If your lottery number is in the top results, you will need to send in more paperwork.

Selling your below market rate home

Special cases

Downpayment loans

Downpayment loans

See progress of new affordable housing sales

See progress of new affordable housing sales

See charts showing how many applications are in review, approval, and closing for all our new units.

Get help

Get email alerts for new listings

Last updated August 25, 2023