Home Buying in Mission>Question Details

jimgribble, Home Buyer in San Francisco, CA

What is the down payment requirement?

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

jimgribble@gmail.com

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

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2
Hello:

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
0 votes Thank Flag Link Fri Nov 9, 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,
Sally
0 votes Thank Flag Link Thu Nov 8, 2012
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