Oaktown Roots Affordable Homes
Article last updated July 2023
This affordable housing project consists of 24 new construction single-family homes on various sites throughout Oakland. The homes are 3- and 4-bedrooms with 2 baths, and off-street parking, and are priced Below Market Rate (BMR) for affordability to “moderate income” households up to 120% Area Median Income (AMI).
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
Explore this affordable homeownership opportunity by contacting one of the PREFERRED LENDERS, or the City’s Homeownership Programs staff at 510-238-6158 or emailing homebuyers@oaklandca.gov.
Download a list of City-preferred Oaktown Roots Lenders and the Oaktown Roots Property List below!
About the Author
Montana Gabrielle Hooks is a SF Bay Area Realtor in the East Bay. Local entrepreneurship, playing bass guitar and singing live karaoke are a few of her favorite things. She serves on theYoung Realtists Division, Oakland board is a member of the Associated Real Property Brokers. Follow her on Instagram or learn more about her on her website.
