Loans Available for Purchasers of Many Properties South of Market (SOMA)

There are great loans for purchasers looking at buying properties South of Market (SOMA) that only a few realtors and mortgage brokers are aware.  Features of these loans include:

• Loan amounts up to $729,750 in San Francisco
• 5% minimum payments down
• No PMI insurance necessary
• No FHA approval necessary/streamlined condo review process
• Low rates (on 9/7/2011 qualified applicants could obtain rates as low as 4.125%)
• The property must be in designated areas which includes much of SOMA
• Live Work Spaces also qualify

Borrowers do not have to be US citizens, but foreigners who are eligible must be able to show 3 years of income history and meet other requirements to qualify. 

If you are looking to acquire a property South of Market, I would be happy to assist you with taking advantage of this program and representing you as your realtor.  Feel free to contact me. If you want market information about SOMA real estate in San Francisco please visit our website GB and Associates.