A Fantastic Below Market Rate Purchase Opportunity for San Mateo County Teachers

88 S Broadway #3203, Millbrae, CA 94030

$453,686| 2 bedroom 2 bathroom | 1,263 Sq Ft | HOA $499.54 | 1 Car Parking | Built 2007


88 S Broadway #3203 is a below market rate (BMR)

purchase opportunity in Millbrae. An application is required,

click here to download the BMR Prescreen Application.

The price of $453,686 is fixed and purchase of this unit

requires an application and lottery for eligible households.

Other restrictions and lottery preferences apply.

Click here to read more  in-depth eligibility and purchase

instructions, or see below:


Lottery & points:

The lottery for 88 S Broadway #3203 will be a closed lottery on Monday July 9th. Results will be sent to all applicants regardless of ranking. Below is a chart to show the lottery point system given to qualifying households:









Requirements for eligiblity:

  • Household size - interested households must be minimum 2 people or a maximum of 5 people (including dependents)
  • Income per household size - combined household income for all non-dependents in a household (as claimed on current tax return) must meet or be below the maximum allowed 120% area median income (AMI) for San Mateo County, per their household size. See the chart below for 120% AMI for households from 2-5 people:





Open houses:

  • Wednesday June 6, from 5:00 PM to 7:00 PM
  • Saturday June 16, from 1:00 PM to 4:00 PM
  • Saturday June 23, from 1:00 PM to 4:00 PM

For any questions regarding the property, please contact the listing agent, Rob Belli, with HomeQuest Realty, by e-mail at rob@hquestrealty.com or by phone at (415) 317-8540. BAAHA will be at the open houses with Rob, in case you have any program related questions.


Please contact BAAHA at bmr@myhomegateway.com for any questions regarding the Millbrae BMR program.


Links and flyers:


Photos:

Application due:

Thursday

June 28, 2018

By 5:00 PM

to BAAHA (see instructions on application)


Lottery on:

Monday

July 9, 2018

BAAHA uses your application to determine eligibility to participate in the lottery. It is important to take the time necessary to accurately complete the application. It is also advised to submit your application as early as possible so that BAAHA can review, and if necessary, contact you with additional questions, or for additional clarification on information provided. An application alone does not guarantee eligibility. Please review the information provided on this webpage and in the various flyers (see "Links and flyers") for eligibility and lottery preference parameters.

Please note that our website is still under construction. If you cannot find what you are looking for, please contact us.

Bay Area Affordable Homeownership Alliance

Application

Homeownership in Millbrae