Showplace Square/Potrero Hill 888 7th Street, #242

Beautiful 2 bedroom , 1 bath unit in luxurious Showplace Square. Easy access to public transit and existing appliances included.

All cash and loan purchase allowed

(monthly HOA dues $373.93)

Applicants must make no more than the following amounts per household:

100% of Unadjusted Area Median Income (AMI) for HUD Metro Fair Market Rent Area (HMFA) that contains San Francisco 2011

A two person household can make no more than $81,300

A three person household can make no more than $91,450

A four person household can make no more than $101,600

(Please visit http://sf-moh.org/index.aspx?page=22 for larger households.)

Note: All-cash purchases are currently allowed for units at this address only due to a pending lawsuit in this building. This is a special exception for buildings in which buyers may not be able to obtain loans. All cash buyer households will be reviewed by the Mayor’s Office of Housing for their ability to pay on-going housing expenses. Note that loans are also allowed for purchase of this unit. INCOME LEVELS RAISED TO 2012 LEVELS.

Please note that resale applicants must submit a loan pre-approval and final loan through a BMR participating lender and one adult titleholder must complete a first-time homebuyer workshop through any of the City’s 5 approved first-time homebuyer counseling agencies in order to apply.

Please sign up for a first-time homebuyer class today by contacting one of our 5 approved counseling agencies (click here). Or visit homeownershipsf.org for a schedule of upcoming classes. Please note that classes can fill up and applicants are encouraged to sign up as soon as possible. Certificate is valid for 2 years from the date of issuance for all Mayor’s Office of Housing first time homebuyer programs. Applicants attending workshops that offer a one-on-one follow-up counseling appointment (which is highly recommended) may apply for the unit with a letter from the counseling agency stating that the one-on-one meeting is pending.

Resale applicants (only) may take the entire workshop after applying for the unit as long as the certificate is obtained before closing on the unit. Applicant should sign up for the class before applying and include the workshop date in the application.

Applicant households must be as many people (or more) as number of bedrooms in the unit to apply.

Applicants are encouraged to apply for down payment assistance for BMR units. Click here to review potential programs. All participating lenders should explore these options with BMR buyers.

All potential buyers must review the 2007 Inclusionary Housing Procedures Manual  that governs this property.