Oaktown Roots is now accepting applications. This affordable housing project consists of 24 new construction single family homes in various sites throughout Oakland. The homes are 3- and 4-bedrooms with 2 baths, off-street parking, and are priced Below Market Rate (BMR) for affordability to “moderate income” households up to 120% Area Median Income (AMI).
| Number of Persons in Household: | 120% Area Median Income: |
|---|---|
1 |
$124,250 |
2 |
$142,000 |
3 |
$159,750 |
4 |
$177,500 |
5 |
$191,700 |
6 |
$205,900 |
7 |
$220,100 |
8 |
$234,300 |
Source:
https://www.oaklandca.gov/resources/rent-and-income-limits-for-affordable-housing
The Program Preferred Lenders are now accepting applications. Eligible buyers are encouraged to explore this opportunity with their real estate agent and to apply through the Program Preferred Lenders.
Eligible buyers are those who:
1. Have a household size of 3 persons or more for a 3 bedroom home, 4 persons or more for a 4 bedroom home
2. Have saved funds to contribute 3% of sale price to down payment
3. Have a household income at or below 120% Area Median Income (AMI)
4. Have a mortgage loan pre-approval, or can get one
5. Have completed an approved Homebuyer Education workshop, or are enrolled in one
Eligible buyers are encouraged to explore this affordable homeownership opportunity by contacting one of the PREFERRED LENDERS, by submitting an offer to the listing agent, or by contacting the City’s Homeownership Programs staff at 510-238-6158 or emailing homebuyers@oaklandca.gov.
View the sample flyers on this page to see home photos, their sales agent contact info, or work with your real estate agent to search for homes, many are listed on the MLS.
Return to the SERVICES FOR HOMEBUYERS page.