On July 30, 2013, Mayor Ed Lee and Supervisor Mark Farrell launched the First Responders Down Payment Home Loan Assistance Program for San Francisco first responders who are active members of the San Francisco Police Department, Fire Department, or Sheriff's Department. The program, funded by the Housing Trust Fund Initiative, which was passed by San Francisco voters last year, will help the city's first responders purchase single family residences within city limits with down payment assistance loans up to $100,000. The goal of the program is to increase homeownership opportunities for the city's first responders and to increase the number of first responders located in San Francisco during times of crisis and need.
Impact to REALTORS®
The program is designed to ease the financial burden of homeownership for active uniformed, sworn members of the San Francisco Police Department, Fire Department, and Sheriff's Department by providing up to $100,000 in down payment assistance loans. Consequently, the program also helps open up the San Francisco housing market to a population of middle-class potential buyers who may normally not consider purchasing in San Francisco. REALTORS® who have clients who may be eligible should look into the program to see if the program is compatible with the client's financial plan. REALTORS® should also reach out to any eligible leads and inform them of this unique homeownership opportunity.