Posting Date

First Come, First Served Posting Date: 01/06/2021

Applications are accepted on a First Come, First Served basis starting on 01/21/2021 8:00 AM PST.  Any applications submitted prior to 8:00 AM PST, 01/21/2021 will be automatically deleted.

Program

Limited Equity Homeownership Program

Type of Unit

Condominium

Building Name

200 Brannan / 1 Federal

Unit Address (including city/state/zip code)

1 Federal Street Unit 7, San Francisco, CA 94107

Maximum Sales Price

$310,948

Neighborhood

Financial District/South Beach

Supervisory District

6

Number of Bedrooms

Studio

Number of Bathrooms

1

Square Footage

1,018

Floor Number

1st

Year Built

2003

Appliances Included in the Sale of the Unit  

Stove, Dishwasher, Microwave

Building Amenities

Gym, clubroom

Parking Space Count

One (1) Parking Space

Smoking Policy

No smoking in common areas.  Please see the CC&R for the complete smoking policy.

Pet Policy

No more than 2 domestic dogs or 2 domestic cats, or 1 domestic dog and 1 domestic cat, fish (which shall not be counted in determining the number of pets) and no more than 2 birds (in birdcages). Pets may not be kept, bred or maintained for commercial purposes.  Please see the CC&R for the complete pet policy.

Monthly HOA Dues

$754

What the HOA Dues Cover

Water, Garbage, Exterior Building Maintenance, Grounds Maintenance, Outside Management

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

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

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 2020

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

Other Qualification Notes

All titleholders/borrowers must complete first-time homebuyer education through one of the City’s 5 approved first-time homebuyer counseling agencies and obtain a Verification of Homebuyer Education Completion form in order to apply. Please visit https://homeownershipsf.org/homebuyers for a schedule of upcoming program orientations and workshops. 

All titleholders/borrowers must obtain a loan pre-approval from one of the approved participating lenders listed at https://sfmohcd.org/lender-list to apply.

A copy of the First Mortgage Pre-Approval and Verification of Homebuyer Education must be included with the BMR Lottery Application.

Applicants with financial needs are encouraged to apply for down payment assistance. All MOHCD-Approved Lenders should explore down payment and grant options with BMR buyers. Households must be as many people (or more) as number of bedrooms in the unit to apply. 

Contact Person (Realtor/Sales Agent)

Robert Belli

License #01913570

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

Home Quest Realty

5517 Geary Blvd Suite 206

San Francisco CA 94121.

Office Hours (including any special message)

Monday to Friday 10 am to 5pm

Please call, email, or text to schedule an appointment.

Phone

(415) 317-8540

Email

rob@hquestrealty.com

Website

www.hqrealtysf.com

How to Obtain an Application

Contact realtor or download from MOHCD website by clicking here

Applications – First Come, First Served

Applications are being accepted on a first come, first served basis starting on 01/21/2021 at 8:00 AM PST.  Any applications submitted prior to 8:00 AM PST, 01/21/2021 will be automatically deleted.

How to Submit a First Come, First Served Application

Submit a complete electronic application package via this ShareFile secure link, 1 Federal St # 7.

Instructions: Compile the complete application form and all required documents into one PDF file, and name the PDF file “1 Federal St #7 – 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.

Virtual Tour

To view the virtual tour, please click on this link.

MLS

To view the listing on MLS, please click on this link.

Important Program Rules

All potential buyers must review the Limited Equity Loan Disclosure Book and 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 Limited Equity Loan Disclosure Book and 2018 Inclusionary Affordable Housing Program Monitoring and Procedures Manual for specific information.