It’s an opportune moment to purchase a below-market rate (BMR) condo, as competition is slim and inventory available.
The San Francisco Mayor’s Office of Housing and Community Development offers first-time home buyers a below-marke trate (BMR) condo program that spans a variety of neighborhoods. The benefit? Pay a mortgage instead of rent, and build a bit of equity.
The program has strict eligibility requirements, and typically involves a lottery for each available condo. However, the SF population exodus over the past year has narrowed down the BMR buyer pool. So there’s a number of “First Come, First Served” listings for which you can apply once approved. Continue Reading