3- to 4-bedroom 2,000+ s.f. single family residences. Sale price $262,750 to $377,00 with up to $70,000 in additional homebuyer assistance financial subsidies
By Walter Zhovreboff, Administrative Director, Bay Area Affordable Home Ownership Alliance
The City of Walnut Creek is providing a very rare and highly beneficial opportunity for very low to low income first time homebuyers to secure home ownership of newly constructed three and four-bedroom single family homes. The price for these homes will range from $262,750 to $377,000. These newly constructed large two-level homes are part of the City of Walnut Creek’s Below Market Rate (BMR) home ownership program. The same market-rate residences in the premier communities are for sale at prices ranging from $1,100,000 to $1,300,000
State and City ordinances enable developers building new homes in Walnut Creek to secure advantageous density bonuses by designating a percentage of their newly built inventory for very low to moderate income households. Eligibility for these low-income BMR homes is restricted to first-time homebuyer households with a minimum household size of three to four persons. Furthermore, the household’s combined gross income may not exceed the maximum thresholds outlined in the schedule below.
| Household size | 3 | 4 | 5 | 6 | 7 | 8 |
| Maximum income allowance | $122,200 | $135,750 | $146,650 | $157,500 | $168,350 | $179,200 |
*To qualify as a first-time homebuyer, no household member may have owned or held an ownership interest in a residential property within the past three years.
The City of Walnut Creeks Below Market Rate homebuyer program is administered by the Bay Area Affordable Homeownership Alliance (BAAHA), a 501c3 non-profit organization. BAAHA and the City are also partnering with the Richmond Community Housing Development Corporation (CHDC) to help provide access to essential first-time homebuyer education and counseling. Furthermore, this collaboration, alongside support from Mechanics Bank, provides access for up to $70,000 in additional down payment assistance subsidies for qualifying buyers. One of the loan subsidies provides up to $32,800 which is forgiven after five years of ownership.
To review the eligibility criteria, application process, and submission requirements for the currently available $262,750 four-bedroom very low-income home, please visit the BAAHA Abigail Place website at: https://myhomegateway.org/walnut-creek-bmr—abigail-place.html. Households interested in purchasing the Walnut Creek BMR will be required to submit an application to BAAHA to participate in a lottery. The two remaining affordable Below Market Rate (BMR) units are scheduled to be released to the market shortly.
The City of Walnut Creek, BAAHA, and CHCD invite interested households to attend a virtual BMR program informational workshop scheduled for 6:00PM on October 21, 2026. Topics covered at the workshop will focus on: BMR program purchase eligibility guidelines and requirements; gaining access to BMR Programs; required HUD education and valuable homebuyer counseling services; next steps households should take to apply to an upcoming BMR lottery. To get additional information and make a reservation for the virtual workshop please visit BAAHA’s website at https://myhomegateway.org/wc-bmrworkshop.html
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