FIRST-TIME BUYER · SAN FRANCISCO
First Time Home Buyer in San Francisco — DALP, BMR, CalHFA
First time home buyer San Francisco programs pair city-run assistance with statewide help and low-down-payment loans. The Mayor's Office of Housing and Community Development (MOHCD) operates the Downpayment Assistance Loan Program (DALP), a shared-appreciation second of up to $500,000 for income-qualified San Francisco buyers, and the Below Market Rate (BMR) ownership program, which sells price-restricted condos across the Mission, SoMa, and Bernal Heights. On top of those, CalHFA MyHome and Dream For All add deferred down-payment funds, while FHA financing (3.5% down, 580+ FICO) and VA loans (0% down for veterans) round out the toolkit. Because San Francisco County is a designated high-cost area, the 2026 FHA and conforming limit both sit at $1,249,125 — letting a first-time buyer finance a home near the neighborhood-condo price band with minimal cash. Most SF newcomers start with a warrantable condo or a tenancy-in-common unit in the Sunset or the Richmond, where per-square-foot pricing runs well under detached homes in Noe Valley or Pacific Heights. Save Financial is a CalHFA-approved and FHA-approved lender that layers city, state, and agency programs into a single San Francisco closing.
QUICK ANSWER
Save Financial originates First-Time Buyer Programs for San Francisco County borrowers from our California-licensed brokerage (NMLS #377740). SF first-time buyers can combine MOHCD DALP (up to $500K), the Below Market Rate ownership program, CalHFA MyHome and Dream For All, FHA (3.5% down to $1,249,125), or VA (0% down). Because condos and TICs are the realistic entry point across the Sunset, the Richmond, and the Mission, program fit depends on whether the unit is warrantable, income limits, and target neighborhood. Get a custom SF first-time buyer program quote in about 60 seconds, or call (949) 379-5320.
Why San Francisco is different
San Francisco's first-time buyer landscape is unlike anywhere else in California:
City-funded down payment assistance is unusually deep: MOHCD's DALP can advance up to $500,000 as a shared-appreciation second mortgage — a scale most California cities can't match — because San Francisco underwrites its programs to local prices rather than statewide medians. Buyers repay from future appreciation instead of monthly payments, which keeps the effective housing cost lower during the years income is still climbing.
Condos and TICs are the entry door: With detached homes in Noe Valley and Pacific Heights routinely clearing $2M, most first-timers buy a condo or tenancy-in-common unit in the Sunset, the Richmond, the Mission, or SoMa. Warrantable condos qualify for FHA, conventional, and CalHFA financing; TICs need a fractional or portfolio loan. Knowing which you're touring — before the offer — changes the whole financing plan.
Below Market Rate ownership units: The city's BMR program sells new-construction and resale condos at restricted prices to income-qualified buyers, often in SoMa, Bernal Heights, and Mission Bay. BMR homes carry resale controls but let a household buy for a fraction of market price. Lenders must be approved for BMR transactions, and Save Financial originates against these restricted deeds.
High-cost limits work in the buyer's favor: San Francisco County's $1,249,125 FHA and conforming ceiling means a first-time buyer isn't forced straight into jumbo underwriting. A warrantable Richmond or Sunset condo priced under that line can close with agency or FHA financing and the lighter reserve requirements that come with it.
Get started with Save Financial
Save Financial is licensed in all 58 California counties (NMLS #377740, DRE #01875766) and works San Francisco first-time buyer files across every district in the city. We originate the full stack covered here — DALP-compatible firsts, BMR loans, CalHFA, FHA, VA, and conventional — through wholesale lender channels, which lets us shop pricing across many investors rather than one bank's rate sheet.
To get a real San Francisco-specific rate quote in 60 seconds (no SSN, no credit pull, no obligation), apply online or call 949-379-5320. You'll speak with a California-licensed loan officer who knows the difference between a warrantable Sunset condo and a Mission TIC.
For broader local information, see our San Francisco overview page. For the parent program details on first-time home buyer options, see our first-time home buyer program page.
— SF FAQ
San Francisco first-time home buyer questions, answered
What first-time buyer programs are available in San Francisco?
San Francisco first-time buyers can layer several programs. The city's Mayor's Office of Housing and Community Development (MOHCD) runs the Downpayment Assistance Loan Program (DALP), a shared-appreciation second of up to $500,000 for income-qualified buyers, plus the Below Market Rate (BMR) ownership program that sells restricted-price homes across neighborhoods like the Mission, SoMa, and Bernal Heights. Statewide, CalHFA MyHome and Dream For All add down-payment help. FHA financing (3.5% down) is available up to the San Francisco County limit of $1,249,125. Save Financial helps SF buyers combine these into one transaction.
What is the FHA loan limit in San Francisco?
San Francisco County's 2026 FHA loan limit is $1,249,125 for a one-unit property — the same as the conforming loan limit, because San Francisco is a designated high-cost county. That means a first-time buyer can use an FHA loan with 3.5% down on a home priced up to roughly $1.29M, a meaningful tool in a market where the median price is about $1,440,000.
Can first-time buyers afford a condo or TIC in San Francisco?
Condos and tenancy-in-common (TIC) units are the most common entry points for San Francisco first-time buyers because they price well below single-family homes in the Sunset, the Richmond, and the Mission. Condos qualify for conventional, FHA, and CalHFA financing when the project is warrantable. TICs require a specialized fractional or portfolio loan rather than a standard conforming mortgage — Save Financial originates both and can explain the trade-offs before you write an offer.
How much do I need to put down as a first-time buyer in San Francisco?
It depends on the program. Conventional loans allow 3% down for first-time buyers and FHA allows 3.5% with a 580+ score, both usable up to the $1,249,125 San Francisco limit. VA loans are 0% down for eligible veterans. When MOHCD DALP or CalHFA assistance is layered in, many San Francisco first-time buyers reach closing with a fraction of the cash a jumbo purchase would otherwise require.
Does Save Financial close first-time buyer loans across San Francisco?
Yes. Save Financial is licensed in all 58 California counties, including San Francisco County, and originates first-time buyer loans in every San Francisco neighborhood — from Noe Valley and Pacific Heights to the Sunset, the Richmond, the Mission, SoMa, and Bernal Heights. We close efficiently when borrower documentation is complete.
Are there income limits for San Francisco first-time buyer assistance?
Yes. City programs such as MOHCD DALP and the BMR ownership program set income limits tied to San Francisco Area Median Income, which is among the highest in the nation — so many tech and professional households still qualify. CalHFA programs apply their own county income caps. Save Financial reviews your household income against each program's current limits before you apply so you know which layers you can actually stack.