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Beautiful BMR in Union City $540,579



This is a Union City BMR (Below Market Rate) unit, so the price is fixed and you can't offer a higher price.

  • 2 Bedroom

  • 2 Baths

  • ≅1,140 sqft living

  • ≅1,739 sqft lot size

  • Townhouse

  • Built 1997

Spacious two bedrooms, two baths, and a big balcony. Open floor plan with kitchen, dining, and living room. Kitchen was remodeled with quartz countertops, backsplash and waterfall (you won't find that in another BMR). Attractive Stainless Steel Kitchen appliances. Master bedroom is huge, with a large walk-in closet and a bathroom with double sinks and shower over tub. Fireplace in the living room. In-unit laundry with washer and dryer. Forced air heating and AC. 1 car garage and 1 assigned parking spot. It's in a quiet neighborhood, close to shopping, restaurants, and BART.


Preference will be given to buyers who live or work in the Union City limits. So if you're looking for a spacious, affordable BMR home, this is the place for you. Contact me today to schedule a viewing.


All Review Qualification documents for BMR are in disclosures.io folder. Open house scheduled for July 22, 23 & 29. Offers will be reviewed on 8/1/23 at 1pm.


So if you're looking for a spacious, affordable BMR home, this is the place for you. Don't miss out, partner. Contact me today to schedule a viewing. 510-388-2436


ELIGIBLE BUYER MINIMUM REQUIREMENTS


To be eligible to purchase this home, households must meet the following minimum requirements:


1. Household size must be a minimum of 2 persons and a maximum of 3 persons.


2. All adult household members are First Time Homebuyers:

a. Defined as: Individuals who have not owned a residential property during the three‐year period before applying for participation in the home buyer program, regardless of whether the individual’s interest in such property results in a financial gain, such property is located in another state or country, or the member has occupied such property as his or her primary residence.


b. Exceptions to this definition include:

I. An individual who owned a home with a former spouse during their marriage.

II. An individual who has owned a principal residence that was not permanently affixed to a permanent foundation, according to applicable regulations.

III. An individual who has owned a property that was not in compliance with state or local building codes, and which cannot be brought into compliance for less than the cost of constructing a permanent structure.


3. The maximum gross combined income from all adult members of the household may not exceed the following 2023 Low Income Limits for Alameda County by household size:




4. Legal resident.


5. Retained a real estate agent.


6. Able to make a minimum down payment of $27,028 (5% of sales price), using buyer’s own funds. (Gift funds are acceptable as long as (1) the buyer contributes a minimum of 3% from their own funds and (2) the gift funds plus the buyer’s down payment do not exceed a total of 20% of the purchase price.)


7. Pre‐approved for a primary mortgage which includes all adult members of the household. (Be advised that, to qualify for your loan, it is possible that your lender will require a down payment that is larger than the City’s minimum requirement.)


8. Minimum credit score of 660.


9. Debt to income (DTI) ratios must be within the following limits:


a. Front‐end: 40% maximum: The “front‐end” ratio is the proportion of monthly housing costs as a percentage of monthly income. Monthly housing costs include mortgage (principal and interest), private mortgage insurance (if applicable), hazard insurance, property taxes, condominium fees or

dues, and utilities.


b. Back‐end: 45% maximum: The "back‐end" ratio is the proportion of monthly housing costs plus all other monthly debt payments (e.g. student loans, car payments, credit cards) as a percentage of monthly household income.


c. If household income is below 80% Area Median Income (AMI), as adjusted for household size, DTI limits are 35% front‐end and 40% back‐end.


10. If your application is approved, completion of a HUD‐approved, 8‐hour Homebuyer Education Workshop is required.

a. The Homebuyer Education Workshop must be completed within the 6 months prior to close of escrow.

b. Completing a Homebuyer Education Workshop early in the home buying process is strongly recommended.

c. For a list of locally available options see this web site: www.unioncity.org/BMR


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