Best Mortgage Options for San Francisco Home Buyers

Sometimes, what stands between you and your next home is a financing option you didn’t know existed. Today, I attended a Citibank meeting for Realtors and learned about a few solutions worth knowing…

There are so many programs for people who want to buy or sell. We think something is impossible, and because of that, we don't take action and don't search for information.

Here are a few examples:

1. HomeRun Mortgage - is a program that requires only 3% down, no mortgage insurance, and has competitive rates. Requirements: "either the property is located in a low to moderate income census tract OR the borrower’s household income is less than 120% of the median income." In San Francisco, 120% of the median income for a single person is up to $136,150. Two people - $155,650.

2. Family Member Second Home Mortgage - if you are buying a property for a parent, you may qualify for primary residence financing, with a lower down payment and more competitive rates than a second-home mortgage.

3. If you own a home with a mortgage, want to buy a second property, and cannot qualify because of the first home's debt, there is a way around it.

Citibank also offers a $7,500 closing cost credit for qualified borrowers. I mean, there is so much help and opportunity out there.

If you're thinking about buying or selling but aren't sure whether there is a solution to your problem, message me, and I will put you in touch with the right people.