What is the down payment requirement?

Asked by jimgribble, San Francisco, CA Thu Nov 8, 2012


This question was asked from this property: http://www.trulia.com/property/3095402141-1587-15th-St-403-S…

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Helen Yuen, Agent, Oakland Ca 94605, CA
Fri Nov 9, 2012

Laurance Maddox has experience running a tax business, currently he works as a commercial loan broker. He can be reached directly at (303) 884-0834.

If you're buying in SF - yes the Mayor's Program may be for you as suggested by the other realtor.
If you buy BMR (below market value), the program takes part of the profit value when you sell.
Some other cities also have similar programs.

Ask about a FHA loan if you plan to live in the property.

Ask about a zero downpayment if you are a veteran.

Helen Yuen, Open Home professionals - Call to get info about a listing or for a tour of a home
(415) 469-0577
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Sally Rosenm…, Agent, San Francisco, CA
Thu Nov 8, 2012
Dear Jim,

This is a Below Market Rate unit with specific requirements. The Mayor's office of Housing has all the requirements needed and in what ways the Mayor's office can help you with the downpayment. Please go to http://www.sfgov.org and look under Mayor's office of housing. It is best to go to that site because BMR units have different requirements for loans.

Good luck,
Web Reference:  http://www.sallyrosenman.com
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