Get a downpayment loan to buy certain market rate homes

In the City Second Loan Program, you can borrow up to $375,000 for certain homes in San Francisco.

What to do

1. Decide if you can apply

You must match market rate offers for these homes.

The amount you can borrow depends on how much you need and how much funding we have.

Your household must make under a certain amount. The maximum amount depends on the number of people in your household:

  • For 1 person, $107,600
  • For 2 people, $123,000
  • For 3 people, $138,350
  • For 4 people, $153,700
  • For 5 people, $166,000
  • For 6 people, $178,300
  • For 7 people, $190,600
  • For 8 people, $202,900
  • For 9 people, $215,200

Before you can apply, you must attend homebuyer education and get a mortgage loan pre-approval letter from an approved lender.

2. Apply for listings

Applications are first come, first served in the City Second program.

You must be able to afford the "offer price to match" shown on each listing. You can use the City Second loan to fill the gap between what you can afford and the seller's asking price.

After you apply

  1. If we approve your application, you’ll take our approval letter to your realtor.
  2. Your realtor gives a purchase offer to the seller.
  3. Both you and the seller sign the purchase offer. It then becomes a ratified purchase agreement.
  4. You take the ratified purchase agreement to your lender. Your lender sends in paperwork to us within 30 days.
  5. You'll need to give your lender more paperwork, including a nonrefundable processing fee. You only pay the fee after you have your ratified purchase agreement.

Selling your home

You can sell your City Second home at market rate prices. Let us know when you sell your home. The City can assign a buyer to match your first offer.

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Last updated November 18, 2020