855 Folsom Street, Unit #342

855 Folsom Street, Unit #342
San Francisco, 94107
Estimated price: $466,125
100 - 120% AMI
Available
Available in 2016

 

Selling Price

$466,125

Neighborhood

Yerba Buena Gardens

Number of Bedrooms

2

Number of Bathrooms

1

Square Footage

721 sq. ft.

Year Built

2001

Appliances Included in the Sale of the Unit 

Dishwasher, Oven, Microwave, refrigerator, washer dryer

Building Amenities

24 hour Security which handles Concierge packages, dry-cleaning & key service

Parking

NONE

Monthly Homeowner Dues

$461.44 per month.

What the HOA Dues Cover

HOA, Manager, Security, water, garbage, recycling for common areas and individual units.

Income Level of Applicants

Household Size                Maximum Income at 120% of AMI

2              $103,400

3              $116,350

4              $129,250

5              $139,550

6              $149,950

7              $160,250

Note: The qualifying income level for this unit has been raised on a one-time basis only.
(Households must be at least as many people as bedrooms in the unit. Please visit www.sf-moh.org for larger households.)

Other Qualification Notes

Applicants must secure a loan preapproval and a final loan through a MOHCD Participating Lender who have an “X” marked under BMR.

 

All titleholders/borrowers must complete a first-time homebuyer workshop through one of the City’s 5 approved first-time homebuyer counseling agencies in order to apply. Please visit http://homeownershipsf.org/workshops for a schedule of upcoming classes. 

 

Verification of Homebuyer Education Completion or Certificate of Homebuyer Education from a MOHCD approved first-time homebuyer workshop is required.  Certificate of Homebuyer Education issued before May 1, 2015 is valid for 2 years from the date of issuance. Verification of Homebuyer Education Completion is valid for 1 year from the date of issuance. In the case of buyers receiving down payment assistance from the City, certificates must not be older than 6 months from the time of closing on the unit.

A copy of the mortgage loan pre-approval and homebuyer counseling certificate for every adult household member on loan and title to the BMR unit must be included with the BMR application.

 

Applicants are encouraged to apply for downpayment assistance through the following programs.

 

  • BMR Downpayment Assistance Loan Program (BMR DALP): A deferred down payment assistance loan available to qualified households for up to $57,000 (or maximum of 15% of the purchase price, whichever is less) towards the purchase of a BMR unit.

 

 

 

  • Mortgage Credit Certificate (MCC) Program (can be combined with BMR-DALP for households earning 81% or above of AMI). There is a $675 application fee if applying for MCC.

 

  • Federal Home Loan Bank’s WISH program provides up to $15K in matching funds for down payment assistance.  Please ask your mortgage lender.

 

All MOHCD Participating Lenders should explore these options with BMR buyers.

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

See other qualification rules in the City and County of San Francisco Inclusionary Affordable Housing Program Monitoring and Procedures Manual 2013.

Contact Person (Realtor/Sales Agent)

Mike Broermann

Phone

415.377.3432

Email

Mike@GroupMB.com

Website

www.GroupMB.com

How to Obtain an Application

Contact realtor or download from MOHCD website by clicking here.

Application deadline

Applications are currently being accepted on a first come, first served basis.

Address to which application should be mailed or delivered

GroupMB

Mike Broermann

Address: 855 Folsom #325

San Francisco CA  94107

Attn: BMR #342

Monday - Friday 8am - 11pm

 

Lottery Results, Date, Time and Location

 

The lottery list has been exhausted.  Applications are currently being accepted on a first come, first served basis. 

Assigned Ticket # LOTTERY RANK
241392 1
241393 2
241574 3
241391 4

Date:   July 5, 2016

Time: 11am

Location:

Mayor’s Office of Housing and Community Development

1 South Van Ness Avenue, 5th Floor

SF, CA 94103

Open Houses

 

Sunday, June 19th, 2-3pm

Wednesday, June 22nd, 5:30-6:30pm

Sunday, June 26th, 2-3pm

Sunday, November 6, 12-1pm

Sunday, December 11, 1-2pm

Special Note(s)

View this unit on the public Multiple Listing Service and on Craig’s List.

Procedures Manual

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

Re-pricing Mechanism

A BMR unit will be resold at a restricted price to a household that meets the first‐time homebuyer and income qualifications for the program.  Upon resale, the unit will be repriced based on the change in median income over time. Please review Guidelines for Re-pricing BMR Units for specific information.

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Contact Info

Phone: 
(415) 377-3432
Email: 
Address: 
GroupMB Mike Broermann
855 Folsom #325 Attn: BMR #342
94107, CA