Posting Date

** Updated 08/03/2021 - The first come, first served application period started on 04/16/2021 at 8:00 AM PT and remains open as first come, first served. **

First Come, First Served Posting Date: 04/16/2021

Program

Inclusionary Housing Program

Type of Unit

Condominium

Building Name

776 Tehama and 1277 Howard

Unit Address (including city/state/zip code)

776 Tehama Street, Unit 9

San Francisco, CA 94103

Maximum Sales Price

$356,509

Affordable Price

The affordable price is $333,542 for this BMR unit.

The affordable price is based on what a household earning at 100% of Area Median Income can afford according to certain pricing assumptions.  Applicants can make an offer between the maximum sales price and the affordable price.

The seller is free to accept or reject the price offered by the buyer.  Some sellers may not negotiate at all.   We recommend that the buyer work with their own separate real estate agent for the price negotiations. The seller’s real estate agent should not represent the buyer.

If you pay more than the affordable price, you will not be eligible for the BMR DALP program. If you pay more than the affordable price now, you might not be able to sell for more than the affordable price as calculated when you sell.

Neighborhood

South of Market

Supervisory District

6

Number of Bedrooms

1

Number of Bathrooms

1

Square Footage

418

Floor Number

2

Year Built

2006

Appliances Included in the Sale of the Unit  

Dishwasher, Disposal, Microwave, Cooktop Stove, Gas Range, Refrigerator, Washer/Dryer in the laundry closet

Building Amenities

Patio, First Level Common Space

Parking Space Count

No Parking Space

Smoking Policy

No Smoking.  Please refer to CC&R's for complete smoking policy

Pet Policy

Domestic dogs or cats, combined not to exceed 2 per unit, or birds inside bird cages are allowed. Please refer to CC&R's for complete pet policy.

Monthly HOA Dues

$596

What the HOA Dues Cover

Management, Maintenance Exterior, Trash, Homeowners Insurance, Water

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 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)

Leilani Ishaan

DRE# 01955604

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

Better Homes and Garden Real Estate Thrive

3293 Mission Street

San Francisco, CA 94110

Office Hours (including any special message)

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

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

Phone

(415) 846-5366

Email

Leilani.ishaan@GoBhg.com

How to Obtain an Application

Contact realtor or download from MOHCD website by clicking here

Applications – First Come, First Served

** The first come, first served application period began on 04/30/2021 at 8:00 AM PT and remains open as first come, first served. **  

How to Submit a First Come, First Served Application

Submit a complete electronic application package via this ShareFile secure link, 776 Tehama St # 9.

Instructions: Compile the application form and all required documents into one PDF file, and name the PDF file “776 Tehama St #9 – 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,

Open Houses

Individual showings will be available by appointment only.  PEAD form required to schedule an individual appointment. Please contact Listing Agent for assistance.

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.