Below Market Rate Homeownership 

Below Market Rate Homeownership 

The City of Marina has established a Below Market Rate (BMR) Homeownership program. This program is adopted to implement and administer the Inclusionary Housing Units that are required within the approvals of new housing developments with the City. An Inclusionary Housing Unit is a home that is reserved for sale to people and families that meet certain income requirements.

The adopted BMR Homeownership Program Administrative Policies and Procedures set forth the eligibility criteria and application requirements for prospective BMR home buyers, as well as long-term BMR homeownership requirements. The Program was established to provide affordable homeownership opportunities to moderate, workforce, and bridge income level qualified homeowners. The Program provides priority to purchase available BMR homes to those eligible home buyer households who currently live or work in Marina. The Marina City Council established the BMR program with the goal of achieving a diverse mix of housing types to accommodate a broad range of lifestyles and income levels. BMR units shall be sold only to Workforce, Bridge, and Moderate income households.

BMR Income and Asset Limitations

The income qualifications for the BMR Program are based on the following standards, which are set annually by the California Department of Housing and Community Development (Official State Income Limits for Monterey County). Below is a table that reflects the 2025-2026 Area Median Income (AMI) applicable for the City of Marina as well as the maximums for the different income categories that are relevant to currently available home purchase opportunities.

Monterey County 2025-2026 Household Income Limits

(last updated May 30, 2025)

Number of persons in household
% AMI12345678
100%$73,150$83,600$94,050$104,500$112,850$121,200$129,600$137,950
120%$87,780$100,320$112,860$125,400$135,420$145,440$155,520$165,540
135%$98,753$112,860$126,968$141,075$152,348$163,620$174,960$186,233
150%$109,725$125,400$141,075$156,750$169,275$181,800$194,400$206,925
200%$146,300$167,200$188,100$209,000$225,700$242,400$259,200$275,900
Sources: California Department of Housing and Community Development and Keyser Marston Associates, Inc.

To determine if your household qualifies for a BMR homeownership opportunity, you will need to first determine the number of members there are in your household. Then you add up the gross income for every member of the household, over the age of 18. Finally, based on the number in your household, use the table above to find the income group that your household falls within. For example, a family of 4 with an annual gross income of $122,000 will qualify under the Moderate-Income group. A family of 3 with an income of $186,000 does not qualify under any of the income groups as they make above the income limit for a family of 3 for the Bridge Income group.

In addition to the income maximums listed above, there are also maximums for assets that a buyer may have. Assets are limited to a maximum value of:

  • $150,000 or 20% of the value of the home to be purchased, whichever is higher, for applicants 54 years and younger.
  • $175,000 or 20% of the value of the home to be purchased, whichever is higher for applicants over the age of 55.

Definitions of what sources of income and assets are included in total Income and Assets can be found HERE. Income earned from assets, such as dividends, interest, rental income, etc., are included in the household’s annual income. Applicants will need to complete the City of Marina Form O-3 –Homeownership Program Application for Home Purchase and be ready to provide it to the People's Self Help Housing after the prequalification process is complete with the preferred lender and when instructed to do so.

Sea Haven Below Market Rate Program

There are several BMR purchase opportunities available within the Sea Haven development. To submit your interest for any of the homes at Sea Haven, please follow this LINK to complete your survey. The development consists of both Moderate (120% AMI) and Workforce (135% AMI) Income, 2-bedroom townhomes. There is one floorplan available within the townhome collection that is offered to each income group. There are also 3-bedroom single family cottage home opportunities available within the Workforce (150% AMI) and Bridge (200% AMI) income categories. For more information on each of the floorplans please click HERE to access the brochure.

Pricing for each of the available homes is reflected in the table below.

Income GroupDwelling TypeDwelling SizeDwelling Price
2-Bedroom3-Bedroom
120% AMI (Moderate)Moderate TownhomePlan 1 - 957 sq/ft$380,000N/A
135% AMI (Workforce)Workforce TownhomePlan 1 - 957 sq/ft$438,000N/A
150% AMI (Workforce)Workforce CottagePlan 1 - 997 sq/ft Plan 3 - 1,509 sq/ft$507,000$553,000
200% AMI
(Bridge)		Bridge CottagePlan 3 - 1,509 sq/ft Plan 4 - 1,768 sq/ftN/A$614,000 - $644,000

The steps for Interested buyers to be included in the interest list are as follows:

  1. Review the Buyer Eligibility Requirements and the Income and Asset Limits on this webpage. FAQs are also provided at the bottom of this page to assist with your questions. 
  2. Interested purchasers that meet the program criteria, must submit their information directly HERE. Following the submission of your interest you will receive a short survey you must complete accurately. Note that the accuracy of the information you provide is important.

Purchase a Home

Based on a first come first serve basis, applicants will be invited to enter the process outlined in the steps below to purchase.

  1. Applicants will be notified of their invitation to be preapproved to purchase home by the Sea Haven Affiliated lender.
  2. Preapproved applicants will be referred to a third-party provider to received City of Marina BMR Program certification for household eligibility, income, etc. and will receive buyers’ education regarding owning a deed restricted home. 
  3. Once an applicant is certified as meeting the program requirements, the applicant will obtain financing, and the sales team will work with the applicant to purchase the home.
  4. Prior to the close of escrow, the City will verify all deeds and agreements have been recorded. You can view the required Deed Restrictions here:
    Marina Sea Haven Housing Resale Restriction Agreement
    Marina Sea Haven Homebuyer Deed of Trust Equity Share Note
    Promissory Note -- Equity Sharing  
  5. New homeowners receive their keys!

2023 Sea Haven BMR Home Lottery Overview and Results 

From September 8, 2023 to October 8, 2023, the City held an application window for interested purchasers of a Below Market Rate home to submit their interest and qualifications to be included in a lottery to establish the rank order in which potential buyers will be able to purchase a new home in the Sea Haven community. In this lottery window a total of 776 applications were received.

Two lotteries were held to establish the rank order in which homes will be sold. The first lottery included applicants that were eligible for Preference Points because they lived and/or worked in Marina. The second lottery included applications that were not eligible for Preference Points.

The rank orders established by the lotteries will be used as the order in which purchasers will be offered the opportunity to purchase a unit.

Initial Sea Haven Lottery Results

Rank Order of Preference Point List
Rank Order of Non Preference Point List
Lottery Video

Initial Sea Haven Lottery Statistics 

Sea Haven Lottery Application Statistics
Sea Haven Pre Lottery Preference Point List
Sea Haven Pre Lottery Non Preference Point List

The lottery to establish the Rank Order for sales of Sea Haven BMR Homes was conducted on October 16, 2023. The lottery process can be viewed HERE.

FREQUENTLY ASKED QUESTIONS FOR SEA HAVEN BMR HOMES

Questions Regarding the City of Marina Below Market Rate Program
How do I get on the interest list?
Please visit the Trumark Homes website and complete the form.
Is there any limit to get gift funds a borrower may receive from a family member to use toward the purchase?
No; however, the maximum down payment is 20% of the home purchase price.
What if a single person household wishes to purchase a 3 bedroom home. Will that be allowed?
Your household size must be the number of bedrooms minus 1. I.e., if a home is 3 bedrooms, you must be a 
2-person household to qualify to purchase it.
Can I pay cash and not obtain a loan at all?
No, the maximum downpayment for the home is 20% of the purchase price.
Is there a maximum amount of assets my household can have?
Yes – see Assets section above on this webpage.
Can I purchase the home for my child?
No, you cannot. The household that occupies the home must be the buyer and qualify on their own merit.
How long must I live in the home before the deed restriction is abandoned?
45 years. You can view the required Deed Restrictions here:
Promissory Note -- Equity Sharing
Can I sell the home to anyone I want?
No, the City has first right of refusal, and the City must be contacted first, if you wish to sell your home. If City does not wish to purchase the home, it can only be sold to a household with the same income restriction in which it was purchased during the first 45-years.
Can I rent the home or rooms in it?
No, you may not. It must remain owner occupied.
Will the City require that my income remain below the threshold I qualify for today? In other words, if I am a moderate income household, must I remain a moderate income household to stay in the home?
No, the City will only certify your income at purchase and will not require annual or ongoing certification of income. The City will require annual certification that the home is owner occupied, however.

Questions for the Lender
Can I be approved by any lender?
You must first be preapproved by the Affiliated Lender.
Do I have to work with the Affiliated Lender?
You must be preapproved by the Affiliated Lender, and there is an incentive being offered by the builder if you choose to work with their lender. However, you are not required to work with the Affiliated Lender.
Is there any down payment assistance available from the City or County?
No.
Can I have a non-occupying co-borrower help me qualify to purchase the home (parent, family member, etc.)?
No, you may not in this case. The household members that will occupy will be the household members whose income will be used to qualify both to meet the City’s income limits and to qualify for loan eligibility. A parent or family member may not be a co-borrower in this case.