Posted on: February 7, 2018

Below Market Rate Home Ownership Program


You may be eligible and qualified for below market rate home ownership in Gilroy.  Currently, there are over 400 homes in the city’s Below Market Rate program with more units frequently becoming available.  Homes for households of two start with income requirements as low as $67,900 and up to $108,750 (Santa Clara County limits effective 6/9/17).  Estimated cash to close is 3% of housing price plus closing costs.  This program is for first time home buyers that have not owned a home in the last 3 years.

On March 6, 2017, Gilroy City Council authorized the City Administrator to enter into contract with HouseKeys to serve as Program Administrator for the city’s Ownership and Rental Property Programs, along with the Administration of the First-Time Homebuyer Loan Program.

To begin the process of Below Market Rate Home Ownership:

1)    Complete a Pre-Application at thecity's dedicated BMR website 

2)    Register to attend a House Keys Home Buyer Orientation (upcoming orientations: Feb. 5 or Feb. 26, 2018) 

Click Here For More Information

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