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$319,900
Concord, CA
$439,900
Lakewood, CA
2250 Gellert Blvd, South San Francisco CA 94080 - Map

Features

Beds: 3
Baths: 2
Size: 1 sq.ft.
Balcony: Yes
Parking: Yes
Pets: No
Rentable: No
Web address for this listing: http://affordableproperties.com/1537

South City Lights Below Market Rate Condos



Forty eight homes within this beautiful new community are designated by the City of South San Francisco to be sold at AFFORDABLE, BELOW MARKET RATE prices to qualified first time buyers. These sophisticated 1, 2 and 3 bedroom condominiums are nestled on the hillside along Gellert Blvd. South City Lights overlooks San Bruno Mountain and San Francisco Bay. Only available for a limited time!

**Starting at: $265,000(1 bedroom), $344,000(2 bedroom), 392,000(3 bedroom)**

BASIC ELIGIBILITY INFORMATION
In order to purchase a BMR, you must meet at least the following criteria:
• Must live –or- work in South San Francisco.
• Must be a first time home buyer.
• Must occupy the home as your primary residence.
• Must have a good credit rating.
• Must not be overextended with debt.
• Must make sufficient income to qualify.
• Must have a combined household income of no more than 120% of the area median income based on household size (see below).
Maximum qualifying incomes are as follows:
Household Size 1 2 3 4 5 6
Maximum Income $79,800 $91,200 $102,600 $114,000 $123,100 $132,250
* Median incomes subject to increase in 2007 (Unit prices may also increase slightly)

HOW TO APPLY:
To submit an eligibility application for BMRs at South City Lights:
A forty dollar ($40.00) application fee must be submitted with your screening eligibility application worksheet. The $40.00 must be made payable to First Home, Inc. and can be mailed with your completed application worksheet.

1. Complete the application worksheet. You can download from our website.
2. Fax or mail application worksheet to First Home, Inc along with $40 for processing and tri-agency credit check.

Fax application worksheet to (415)-561-5610, Attn: BMR Application -OR-
Mail application worksheet to:

First Home, Inc.
Attn: BMR Application
PO Box 29590, San Francisco, CA 94129
For additional questions, please call: (415) 561-5600 Ext. 108

ELGIBILITY & QUALIFICATION SCREENING:
Upon receiving a completed application worksheet and the $40 application fee (including credit report), First Home will review and analyze your income, savings and credit and notify you regarding your qualification status.
If not qualified, First Home will direct you to resources and services that you can contact to further discuss your homebuyer efforts. You will be placed on an ‘Interest List’ but this is not the same as the ‘Wait List’ and it does not mean that you are qualified for the unit.
If you are qualified, you will be placed on the ‘Wait List’ for the units according to your income and the unit size. We will collect names on a first come, first served basis.
Submitting a worksheet/application does not guarantee that you will be chosen or able to purchase a BMR. However, providing accurate information on your application is critical to assess your qualification status. It could be several weeks before First Home Inc. contacts you regarding your status.
Please be assured that ALL applicants will be contacted, so we thank you in advance for your patience.

Expenses

Asking price: $392,000
Maintenance: $1
Yearly taxes: $1

Monthly Payments (Aprox)

Financing: Total
80%: $1,963
85%: $2,085
90%: $2,208

* 30yr fixed at 6.4% w/ maint. & tax included. change terms