BMR Resale - 323 29th Street Unit C101

Posting Date

**Updated 03/17/2020 – Applications are still open on a first come, first served basis.  

Initial Posting Date: 11-1-2019

Initial First-Come-First-Served Application Date: 02/05/2020

Program

Inclusionary Housing Program

Type of Unit

Condominium

Building Name

St Paul’s Commons

Unit Address (including city/state/zip code)

323 29th Street, Unit C101, SF, CA 94131

Maximum Asking Price

$536,517

Neighborhood

Noe Valley

Supervisory District

District # 8

Number of Bedrooms

2

Number of Bathrooms

1

Square Footage

610

Floor Number

1

Year Built

1922

Appliances Included in the Sale of the Unit  

Stove, Refrigerator, Hood

Building Amenities

Garden/Greenbelt

Parking Space Count

1

Smoking Policy

No Smoking in Common Areas

Pet Policy

Normal and customary pets may be maintained by occupants of the unit. Number of Pets Restriction: No more than 2 dogs or 2 cats or 1 dog and 1 cat maintained by occupants of the unit.

Monthly HOA Dues

$516

What the HOA Dues Cover

Water, Garbage, Ext 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:

 

120% 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

Household Size

Maximum Income at 120% of AMI

2

$118,200

3

$133,000

4

$147,800

5

$159,600

6

$171,400

7

$183,250

(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 mortgage loan Pre-Approval through a MOHCD-Approved Lender who has a “√” checked under BMR.

 

All titleholders/borrowers must complete first-time homebuyer education through one of the five MOHCD-Approved Homebuyer Counseling Agencies in order to apply. Please visit http://homeownershipsf.org/workshops to sign up for homebuyer education workshops. Verification of Homebuyer Education Completion from a MOHCD-Approved Homebuyer Counseling Agency is required. Verification of Homebuyer Education Completion is valid for 1 year from the date of issuance.

 

A copy of the mortgage loan Pre-Approval and Verification of Homebuyer Education Completion 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. 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

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

 

Lottery List has been exhausted.

Applications are still open on a first come, first served basis. Initial first-come-first-served applications started on 02/05/2020 at 8:00 AM PST. 

How to Submit a Lottery Application

Submit an electronic application via a ShareFile secure link 323 29th Street Unit, C101

 

Instructions: Compile the application form and all required documents into one PDF file, and name the PDF file “323 29th Street Unit C101 – Last Name, First Name” (Example, 123 Sample Street Unit A – Smith, John).

Updated 3/17/20 – 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: ownership counselors.

Lottery Date, Time and Location

**Updated 03/17/2020 – Applications are still open on a first come, first served basis.  

** This lottery list has been exhausted.  Initial First Come, First Served applications started on 02/05/2020 at 8:00 AM PST**

To view lottery results, click here  

Important Program Rules

 

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.

 

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.