COVID-19 HELP (Homeowner Emergency Loan Program)

COVID-19 HELP loans may be used for:

Current and future HOA dues for up to 12 months
Delinquent HOA dues
Delinquent and current special assessments
Mortgage forbearance deferred payments that are due in one lump sum when an affordale repayment option is not available (this does not apply to federally backed mortgage loans such as Fannie Mae, Freddie Mac, U.S. Department of Veteran Affairs (VA), and Federal Housing Administration (FHA) loans)
Delinquent non-escrowed property taxes

COVID-19 HELP Loan Terms

There are no monthly payments. The COVID-19 HELP loan principal balance plus 1% annual simple interest is due upon the sale, transfer of title, failure of the property owner to occupy the property as the property owner's Principal Residence, or other non-compliance with the terms of the loan.
The maximum loan amount to pay for advance HOA dues may not exceed $12,000 including non-recurring closing costs. When combined with other COVID-19 HELP permissible uses, the maximum total loan amount may not exceed $25,000.
The minimum loan amount is $5,000 not including non-recurring closing costs.

What to do

1. Complete the COVID-19 HELP application

MOHCD COVID-19 HELP Application

2. Collect all supporting documentation and save as one PDF

Compile the application form and all required supporting documentation into one PDF file. Name the PDF file "Property Address-Last Name, First Name" (Example: 123 Sample Street-Smith, John).

3. Upload your application package

Upload to Box.com

4. After you submit your application

After you apply MOHCD will review your application and supporting documentation, pull a credit report on all owners, and determine your eligibility for COVID-19 HELP.

5. Work with MOHCD to complete, sign, and record loan documents

MOHCD will open an escrow account for all payments to be made through escrow.
MOHCD will provide a commitment letter with full loan documents for you to review.
Executed documents must be notarized and recorded.

6. Funds disbursement

COVID-19 HELP funds will be disbursed directly from the title company to the financial entity. No cash-back to borrowers is allowed.

Eligibility rules and forms

Eligibility for a COVID-19 HELP loan:

(For a detailed description of the program guidelines, please read the COVID-19 HELP Loan Addendum under COVID-19 HELP Forms below.)

Borrowers must have experienced financial hardship due to the COVID-19 pandemic. Homeowners experiencing a financial hardship unrelated to COVID-19 may be eligible for HELP under the regular program guidelines.
Demonstrate financial hardship as a result of COVID-19, borrowers are required to submit the "Affidavit of Financial Hardship Due to COVID-19" form along with its supporting documentation. See the form for details.
Borrowers must have been current or less than 30 days past due on their mortgage loan account, property tax account, and/or HOA account as of April 1, 2020.
Borrowers do not need to provide documentation to verify inability to secure financing from traditional lenders and/or ineligibility for other financial options prior to applying for COVID-19 HELP.
Borrowers are not required to attend a one-on-one foreclosure intervention counseling session but can reach out to a MOHCD-approved and HUD-certified housing counseling agency if assistance is needed in applying. Please go to www.homeownershipsf.org for a list of agencies.
Maximum household income cannot exceed 120% of AMI.
Current front-end or housing ratio can be greater than 40% but must be no less than 28%.
Maximum combined Loan-to-Value (CLTV) ratio cannot exceed 100%. An appraisal report is not required.
All other requirements contained in the December 2019 HELP Operating and Procedures Manual (the "HELP Manual") will remain in effect.

COVID-19 HELP forms:

Last updated November 17, 2022

Department

Mayor's Office of Housing and Community Development