BMR Resale - 451 Kansas Street, Unit 388, San Francisco, CA 94107

Posting Date

August 9. 2017  **UPDATED September 12, 2017 with lottery results**

Program

Below Market Rate Inclusionary Housing Program

(Click here for program information)

Type of Unit

 

Condominium

Unit Address (including city/state/zip code)

451 Kansas Street, Unit 388

San Francisco, Ca 94107

Selling Price

$295,420

Neighborhood and Map

Potrero Hill

 (Map it!)

Number of Bedrooms

1

Number of Bathrooms

1

Square Footage

602

Year Built

2007

Appliances Included in the Sale of the Unit  

Refrigerator, Stove, Dishwasher, Microwave, Washer & Dryer

Building Amenities

Gymnasium, Top of Roof entrainment

Parking

None

Monthly Homeowner Dues

$460.85

What the HOA Dues Cover

Garbage, Water, building maintenance

Covenants, Conditions & Restrictions (“CC&R’s”) for the building

Covenants, Conditions & Restrictions for this building, are available upon request.

Income Level of Applicants

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

 

100% of Maximum Income by Household Size derived from the Unadjusted Area Median Income (AMI) for HUD Metro Fair Market Rent Area (HMFA) that contains San Francisco 2017

Household Size

Maximum Income at 100% of AMI

1

$80,700

2

$92,250

3

$103,750

4

$115,300

5

$124,500

 

 (Households must be at least as many people as bedrooms in the unit. Please visit www.sfmohcd.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 15% of the purchase price 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)

Juma Donaldson

Phone

510-301-7966

Email

Hawa33@comcast.net

Website

 

How to Obtain an Application

Contact realtor or download from MOHCD website by clicking here.

 

Application deadline

08/30/2017 @ 5pm

Note: Applications must be received in the sales office by 5pm on the day of the application deadline.

Sale Office Hours: 9am-5pm

Address to which application should be mailed or delivered

Office: Whitson Real Estate

Realtor Name: Juma Donaldson

Address: 2644 Appian Way, suite 207

City/State/Zip Code: Pinole, Ca 94564

Attn: BMR Unit

 

For Delivery, Office Hours are: 9am-5pm

Lottery Date, Time, Location and Results

Date: 09/12/2017

Time: @ 3pm

Location:

Mayor’s Office of Housing and Community Development

1 South Van Ness Avenue, 5th Floor

SF, CA 94103

Assigned Ticket #

LOTTERY RANK

3776472

1

3776471

2

3776251

3

3776534

4

3776262

5

3776477

6

3776260

7

3776487

8

3776528

9

3776539

10

3776248

 

3776249

 

3776250

 

3776252

 

3776253

 

3776254

 

3776255

 

3776256

 

3776257

 

3776258

 

3776261

 

3776263

 

3776264

 

3776265

 

3776266

 

3776267

 

3776465

 

3776466

 

3776467

 

3776468

 

3776469

 

3776470

 

3776473

 

3776474

 

3776475

 

3776476

 

3776478

 

3776479

 

3776480

 

3776481

 

3776482

 

3776483

 

3776484

 

3776485

 

3776486

 

3776488

 

3776489

 

3776490

 

3776491

 

3776492

 

3776493

 

3776494

 

3776525

 

3776526

 

3776527

 

3776529

 

3776530

 

3776531

 

3776532

 

3776533

 

3776535

 

3776536

 

3776537

 

3776538

 

3776540

 

Total of 65 Tickets.  10 Tickets pulled.

Lottery preferences

All individuals and households may enter the lottery for a BMR unit.

 

However, those households in which one member holds a Certificate of Preference (COP) from the former San Francisco Redevelopment Agency will be given highest preference in the lottery ranking process. More information about the COP Program can be found here: http://sfmohcd.org/certificate-preference.

 

Households in which one member holds a Displaced Tenant Housing Preference (DTHP) Certificate from the Mayor’s Office of Housing and Community Development will be given second highest preference in the lottery ranking process, for up to 20% of the units in projects with at least 5 affordable units. DTHP certificate holders will also be included in the live/work preference regardless of their current live/work location. More information about the DTHP Program can be found here: http://sfmohcd.org/displaced-tenant-housing-preference-program-0.

 

Households that submit acceptable documentation that at least one member lives or works in San Francisco will be given the third highest preference in the lottery ranking process.

 

If the number of units available exceeds the number of qualified applicants in the above listed preference, the units will become available to other qualified applicants outside of San Francisco. Applicants in each preference category must meet program requirements in order to complete the sale or rental.

 

For more information about the lottery process and housing preferences, please refer to the MOHCD Housing Preferences and Lottery Procedures Manual.

Open Houses

August11, 2017 5pm-7pm , August 19, 2017 1pm-4pm, August 20, 2017 1pm-4pm

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.