HOME SLEEK HOME.
Welcome home to 1400 Mission, contemporary high-rise homes in the heart of San Francisco. Views, roof deck, convenience to public transportation and best of all – affordability. Don’t miss this opportunity to own your first home.
Discover studio, one-, two-, and three-bedroom homes ranging from the low $200,000s to the mid $300,000s.
Do I Qualify?
Learn more about the process of buying your first home. Sign up for workshops at Homeownership SF.
MAXIMUM ANNUAL INCOME PER HOUSEHOLD
1 person: $71,350
2 persons: $81,500
3 persons: $91,700
4 persons: $101,900
5 persons: $110,050
6 persons: $118,200
7 persons: $126,350
AMI is the Area Median Income including San Francisco for 2015.
1. Owner must occupy the property as the primary residence. Below Market Rate (BMR) homes can never be rented. Other requirements may apply, please visit MOHCD’s website for details.
2. Your total household income must be below the maximum amount listed above for your household size. Income from all persons living in the property over the age of 18 will be included. You must be a first-time homebuyer, meaning you have not held interest, even partial interest, in any real estate for the past 3 years.
3. Your lender must be approved by the Mayor’s Office of Housing and Community Development (MOHCD).
4. You need a down payment of at least 5% of the sale price.
5. 100% cash offers are NOT accepted. You must obtain a 30-year fixed rate mortgage loan where your monthly housing payment is at least 28% and no more than 38% of your total household income.
6. You may not have more bedrooms than people living in the household. Each person who intends to live in the home, no matter their age or dependency status, is counted in the size of the household. (e.g., a 1-person household can purchase a studio or 1-bedroom home. A 2-person household can purchase a 1- or 2- bedroom home.)
7. The price of the home is restricted at the time of sale. This is a deed restriction that rolls with the property. It means the price is restricted when the property is resold, according to current AMI, interest rate and Homeowner’s Association (HOA) dues at the time of sale.
8. All Spouses or Domestic Partners must be included in the Household and must appear on the application, title and loan.
9. All adult applicants age 18 and older must provide verification of having completed 8 hours of total homebuyer education, as follows: 6 hours of first-time homebuyer education in a workshop AND a 2-hour individual counseling session with a Housing Counseling Agency approved by the Mayor’s Office of Housing and Community Development (MOHCD).
GET STARTED. GET HELP.
1. Read the Inclusionary Housing BMR Ownership Program Overview.
2. Review the Procedures Manual 2015 for a complete list of deed and inheritance restrictions.
3. You may be eligible for down payment assistance through City, State and/or Federal programs. These opportunities will be discussed in great detail at the education workshops. The counselor will clarify any further questions at your individual counseling appointment.
Download the application form on the MOHCD website.