The days of 100% financing with no documentation are gone, but with upgraded FHA loan guidelines buyers can put as little as 3.5% down and obtain a conservative 30-year fixed-rate mortgage.
In the nine-county San Francisco Bay area, the FHA loan limit is $729,750. Put 3.5% down, and this translates into a $756,217 home purchase price. With 10% down, it translates to an $810,833 purchase price.
You might not get a Pacific Heights mansion, but you could certainly get a Cole Valley condo.
Feel like house hunting? Me, too! Email me or call 415/602-9056 to get started.
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