San Francisco Mortgage Broker

What to Know Before Buying in San Francisco

With a median home price of $1,350,000, most San Francisco properties fall within the $1,209,750 conforming limit, giving buyers access to the most competitive conventional rates. Buyers with 20% down ($270,000) avoid PMI entirely, while those with 5-10% down can cancel PMI once equity reaches 20%. Pre-approval from a locally credible lender is critical — listing agents in San Francisco County know which lenders close reliably, and this reputation directly affects offer competitiveness.

Property taxes start at approximately $14,850 annually under Proposition 13 with 2% annual caps. Factor in homeowners insurance ($1,800-$4,500/year) and any HOA dues when calculating total monthly cost. In most scenarios, the total ownership cost is comparable to renting — with the critical difference that you build equity with each payment. At San Francisco's historical 4-6% appreciation rate, homeowners gain $40,000-$60,000 in equity annually through price growth alone.

San Francisco Market Trends & Buyer Insights

The San Francisco market attracts young professionals, dual-income families, move-up buyers from neighboring cities, and remote workers leveraging quality of life. CalHFA down payment assistance provides up to 3.5% of the purchase price as a deferred-payment loan — meaningful help even at this price point. First-time buyers with 640+ credit and income below the area median should explore CalHFA before assuming they need to save the full down payment.

For investors, San Francisco's rental market supports DSCR loan qualification at 25% down. Self-employed buyers represent a significant portion of the San Francisco County market — bank statement, P&L, and 1099 loan programs are heavily used by local business owners whose tax returns understate actual income. A broker working with 20+ wholesale lenders can identify the program that produces the best rate for your documentation type.