Posting date

** Updated 01/21/2021 – Applications remains open on a First Come, First Served basis. **

Original Dahlia Posting Date: 11/18/19

Initial First Come, First Served Application Date: 12/21/2020 at 8:00 AM PST

Program

Inclusionary Housing Below Market Rate (BMR) Program

Type of unit

Condo

Name of building

1433 Bush Street

Address (including city/state/zip code)

1433 Bush Street, San Francisco, CA 94109

Unit Number

402

Number of bedrooms

Studio

Number of bathrooms

1 bathroom

Square footage

391

Year built

2019

Neighborhood Name

Nob Hill

Supervisorial District

3

Sales Price (for each BMR unit)

$303,358 without parking

Monthly Homeowner Association (HOA) Dues (for each BMR unit)

$471.00 without parking

What the HOA dues cover

Gas, water, trash, maintenance of the common areas and reserves.

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

To review the Covenants, Conditions & Restrictions for this building, please click here.  

Smoking Policy

Smoking prohibited throughout the community including within the units.

Pet Policy

Two pets per residential unit.

Parking

No Parking Space

Area Median Income for Qualifying for Unit

100% of Area Median Income (AMI)

Maximum Allowable Income Levels

Maximum household income must not exceed the following amounts by household size:

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 2019

(Households must be at least as many people as bedrooms in the unit. Please visit www.sfmohcd.org for larger households.)

Appliances

GE stainless steel Stove/Range, GE stainless steel Dishwasher, Zephyr Range Hood

Amenities

Roof top deck with BBQ, wet bar, and dining area; bike parking; Latch Smart Access System; second floor landscaped garden area.

Date on which BMR unit(s) can be occupied by owner

Homes are now ready for occupancy.

Other qualification notes

All potential buyers must review the 2018 Inclusionary Affordable Housing Program Monitoring and Procedures Manual that governs this property. Buyers will sign an acknowledgement that they have read and understood this document when purchasing a BMR unit.

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

All titleholders 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 https://www.homeownershipsf.org/events/ for a schedule of upcoming classes. 

Verification of Homebuyer Education Completion from a MOHCD approved first-time homebuyer workshop is required.  Verification of Homebuyer Education Completion is valid for 1 year from the date of issuance.

A copy of the First Mortgage Pre-Approval and Verification of Homebuyer Education for every adult household member on loan and title to the BMR unit must be included with the BMR Lottery Application.

Applicants with financial needs are encouraged to apply for down payment assistance.

• 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.

• Teacher Next Door Program (TND): A loan assistance program for active educators serving the SFUSD.

• Mortgage Credit Certificate (MCC): A certificate that allows first-time homebuyers to claim a tax credit for up to 15% of the annual mortgage interests paid. There is an application fee if applying for MCC.

• Federal Home Loan Bank’s WISH program provides up to $22,000 in matching funds for down payment assistance.  Please ask your mortgage lender for more information.

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 2018.

Contact person (realtor/sales agent)

Please contact the 1433 Bush Sales Office for questions related to the BMR unit or the building amenities.

Please contact HomeOwnershipSF for all questions related to the BMR application and process.

Company Name and Address (including city/state/zip code)

Homeownership SF

275 Fifth Street Suite 314

San Francisco, CA 94103

Office Hours (including any special message)

HomeOwnership SF: Monday to Friday, 9:00 AM to 5:00 PM

1433 Bush Sales Office: Hours vary, please call for assistance.

Phone

HomeOwnershipSF: (415) 202-5464

1433 Bush Sales Office: Loring Racine (415) 413-1251

Email

info@homeownershipsf.org for questions regarding the BMR application and process.

loring@1433bushsf.com for questions regarding the BMR unit and building amenities.

Website

For application assistance: http://www.homeownershipsf.org/

For building info: https://1433bushsf.com/

How to obtain an application

Please contact HomeOwnershipSF or click here to download the application.

Applications – First Come, First Served

Lottery List for the studio unit has been exhausted. Applications started on December 21, 2020 at 8:00 AM PST and remains open as first come, first served.

How to submit Application for First Come First Serve

Submit a complete electronic application with all required documents as a single PDF file via the ShareFile secure link, 1433 Bush Street. 

Instructions: Compile the application form and all required documents into one PDF file, and name the PDF file “1433 Bush – Last Name, First Name” (Example: 123 Sample Street Unit A – Smith, John). 

Changes to the application process due to COVID‐19. We are not accepting paper applications for now. If you need help to submit an application electronically, you can contact a housing counselor.  For a list of housing counselors, click here.

Lottery date, time and location

** The lottery list for the Studio Unit has been exhausted.  Applications started on December 21, 2020 at 8:00 AM PST and remains open as first come, first served. **

To view the lottery results, click here.

To view the Dahlia listing, click here.

Realtor commission

Are buyers’ realtors eligible for commission on these BMR units? Yes __ / No _X_

Important Program Rules

All potential buyers must review the 2018 Inclusionary Affordable Housing Program Monitoring and Procedures Manual that govern this property. Buyers will sign an acknowledgement that they have read and understood this document when purchasing a BMR unit.

Resale Price Restrictions

When you sell a BMR unit, it will be resold at a restricted price that is affordable to the next qualified household. The household you sell to must meet the first‐time homebuyer, income and other qualifications for the program. Please review the 2018 Inclusionary Affordable Housing Program Monitoring and Procedures Manual for specific information.