Mortgage Broker in San Francisco, CA - More Options, Better Rates
Matt Mayo is a licensed mortgage broker serving San Francisco with access to 150+ wholesale lenders. From condos in SoMa to Victorians in Noe Valley to jumbo purchases in Pacific Heights, I shop your loan across dozens of lenders to find the right fit for one of the most expensive housing markets in the country. Book a free consultation to see what you qualify for.
Book a Free ConsultationSan Francisco Market Snapshot
Last updated: Mar 1, 2026
Median Price
$1,500,000
Avg Days on Market
14
Entry Price
$800K-$1.1M (condos, SoMa, Excelsior, Bayview)
High End
$3M-$6M+ (Pacific Heights, Sea Cliff, Presidio Heights)
Typical properties: Condos, Victorian and Edwardian single-family homes, TICs, multi-unit properties
Loan Programs That Work in San Francisco
Jumbo
With a median home price of $1.5 million and single-family homes routinely exceeding $2M, jumbo financing is the most common loan type in San Francisco. The conforming limit for San Francisco County is $1,249,125, so anything above that requires a jumbo loan. I work with wholesale lenders that offer jumbo programs with as little as 10% down — and some that go to 5% down on loan amounts up to $2M. Rates are competitive with conforming, especially if you have strong reserves.
Conventional
For condos in SoMa, the Excelsior, and parts of the Sunset that fall under $1,249,125, a conventional loan is the most straightforward option. First-time buyers can put as little as 3% down. San Francisco County's conforming limit is at the national ceiling — $1,249,125 — so high-balance conventional covers a significant portion of the condo market.
FHA
The 2026 FHA loan limit for San Francisco County is $1,249,125 — the national ceiling. FHA works well for buyers targeting condos in the $800K–$1.1M range where 3.5% down means $28,000–$38,500 out of pocket. The main consideration in SF is FHA condo project approval — not every building qualifies, but I check approval status on every deal.
Down Payment Assistance
San Francisco has some of the most generous down payment assistance in the country. The SF DALP program offers up to $500,000 as a deferred loan — enough to make a real dent even in this market. Combined with state programs like Dream For All (up to 20% of purchase price) and CalHFA MyHome, first-time buyers have multiple paths to reduce out-of-pocket costs.
DSCR (Investor)
San Francisco's rental market commands some of the highest rents in the country — average rents exceed $3,500/month for a one-bedroom. DSCR loans are popular with investors buying multi-unit properties (2-4 units are common throughout the city). The loan qualifies based on the property's rental income, not your personal income or tax returns.
HELOC / Home Equity
If you already own in San Francisco and have built equity — especially if you bought before 2020 — a HELOC lets you tap that equity for renovations, investment property down payments, or debt consolidation. With home values where they are, even modest equity positions represent significant capital. I work with lenders offering HELOCs up to 90% combined loan-to-value.
Non-QM
San Francisco has one of the highest concentrations of self-employed workers, tech contractors, and startup founders in the country. Many earn strong income but can't show it on traditional tax returns. Non-QM options like bank statement loans (12 or 24 months), asset depletion loans, and 1099-only programs are essential tools in this market.
San Francisco County Loan Limits
2026
FHA Limit
$1,249,125
Conforming Limit
$1,249,125
Local Assistance Programs in San Francisco
Dream For All Shared Appreciation Loan
Deadline: Mar 16, 2026Up to 20% of the purchase price as a down payment loan with no monthly payments. Lottery-based — register during the open window, and if selected, you receive a voucher. On a $1.2M San Francisco condo, that's up to $240,000 in down payment assistance.
First-generation, first-time buyers. Must be a California resident. Registration for 2026 is open now through March 16, 2026 at 5:00 p.m. PST.
San Francisco DALP (Down Payment Assistance Loan Program)
Up to $500,000 as a deferred second mortgage with no monthly payments. The loan is due upon sale, refinance, or transfer. This is one of the largest city-level DPA programs in the nation and was designed specifically for San Francisco's extreme price environment.
First-time homebuyers. Household income limits apply (up to 200% of AMI for 2026). Must complete HUD-approved homebuyer education. Property must be in San Francisco and serve as primary residence. Program is administered by MOHCD — funding availability varies by fiscal year.
CalHFA MyHome Assistance Program
A deferred-payment junior loan of up to 3.5% of the purchase price for down payment or closing costs. No monthly payments — the balance comes due when you sell, refinance, or pay off the first mortgage. On a $1M purchase, that's up to $35,000.
Income limits vary by county and household size. Must be paired with a CalHFA first mortgage. First-time buyers only.
CalPlus with ZIP Extra
CalHFA conventional loan paired with a zero-interest closing cost grant of up to 3% of the loan amount. The grant does not need to be repaid. Comes with a slightly above-market rate on the first mortgage to offset the grant.
Must qualify for CalHFA conventional financing. Best suited for buyers who have the down payment covered but need help with closing costs. Income limits apply.
FHLBank San Francisco Middle-Income DPA
Up to $50,000 in down payment or closing cost assistance provided through participating lenders as part of the Federal Home Loan Bank of San Francisco's WISH and IDEA programs. The grant does not need to be repaid if you remain in the home for the retention period.
Household income must be at or below 80% of area median income for the grant programs (higher thresholds for some IDEA programs). Must be a first-time homebuyer. Available through participating lenders — I can connect you with the right ones.
Lender-Specific DPA Programs
I work with wholesale lenders that offer down payment assistance covering a significant portion of the FHA minimum down payment. These programs change frequently and are only available through brokers with wholesale relationships — they're not publicly advertised.
Varies by program. Income limits and property location requirements apply. Only available through a mortgage broker with wholesale lender access.
Neighborhood Insights
San Francisco is 7 miles by 7 miles, but the financing picture changes dramatically from one neighborhood to the next. Here's what I tell buyers who are new to the market: Noe Valley is one of the city's most sought-after family neighborhoods — tree-lined streets, top-rated schools, and a village feel along 24th Street. Single-family Victorians here typically start around $2M and can push well past $3.5M for larger homes with views. Jumbo financing is the standard. Condos and TICs offer entry points in the $1M–$1.5M range. The Mission and Bernal Heights offer a mix of Victorian flats, newer condos, and multi-unit buildings. Bernal Heights has become one of the most competitive micro-markets in the city — median prices for single-family homes exceed $1.5M. The Mission has a wider range, with condos starting around $800K and multi-unit properties attracting DSCR investors. FHA works for some condos here if the project is approved. SoMa, South Beach, and Mission Bay are the condo epicenter of San Francisco. High-rise buildings like The Infinity, One Rincon Hill, and Lumina dominate. Prices range from $800K for studios and one-bedrooms to $2M+ for penthouses. FHA condo approval is the main consideration — some buildings are approved, many are not. Conventional with 3–5% down is the typical path. The Sunset and Richmond Districts are San Francisco's most affordable single-family neighborhoods. The Outer Sunset and Outer Richmond offer row houses in the $1.1M–$1.6M range — still expensive by national standards, but accessible compared to the rest of SF. Conventional or jumbo depending on price. These neighborhoods are popular with first-time buyers using DPA programs. Pacific Heights, Presidio Heights, and the Marina represent the ultra-premium tier. Single-family homes start around $3.5M in the Marina and can exceed $10M in Pacific Heights. Jumbo financing with strong reserves is essential. I work with lenders who specialize in high-net-worth borrowers and can structure loans with asset-based qualification. The Excelsior, Bayview, and Visitacion Valley are where first-time buyers and DPA programs get the most traction in San Francisco. Single-family homes here range from $900K to $1.3M — still within conforming and FHA limits. The SF DALP ($500K), Dream For All, and CalHFA programs are most impactful in these neighborhoods. Investors also look at multi-unit buildings here for DSCR loans.
Why Work With a San Francisco Mortgage Broker?
When you apply at a bank in San Francisco, you get that bank's rates, that bank's guidelines, and that bank's answer. In a market where the median home price is $1.5 million and many purchases require jumbo financing, that single-lender approach is a real limitation. As a mortgage broker, I submit your loan to whichever of my 150+ wholesale lenders gives you the best deal. Different lenders have different appetites for jumbo loans, different guidelines on condo projects, and different ways they underwrite self-employed income — all of which matter in San Francisco.
What "150+ Lenders" Actually Means for You
It's not just about rate shopping — though that matters on a $1.5M+ loan. Different lenders have fundamentally different guidelines. One might approve a TIC that another won't touch. One might count RSU income from a tech company while another ignores it. Here's a real-world example: a buyer purchasing a condo in SoMa who was self-employed with strong bank deposits but a complicated tax return. The first lender wanted two years of tax returns with rising income. I placed the loan with a wholesale lender offering a 12-month bank statement program at a competitive rate — same borrower, same property, completely different outcome.
My Pre-Approval Actually Means Something
I do a full document review upfront — income, assets, credit, employment, and property considerations — before I issue a pre-approval letter. In San Francisco, where homes sell in a median of 14 days and competitive offers are the norm, a credible pre-approval is not optional. Listing agents and sellers want to know that financing is real. My pre-approvals are backed by actual underwriting work, not just a credit pull and a conversation.
Serving San Francisco as Your Mortgage Broker
I work with buyers across the Bay Area and understand the San Francisco market — the condo project approval landscape, the TIC financing nuances, the jumbo thresholds that matter neighborhood by neighborhood, and the DPA programs that can make a $1M+ purchase more accessible. Whether you're a first-time buyer eyeing a condo in the Excelsior or a move-up buyer looking at a Victorian in Noe Valley, I build a financing strategy around your specific situation. As Chair of the Pacific West Association of REALTORS® Young Professionals Network, I also work closely with agents who specialize in the SF market.
Frequently Asked Questions
How much do I need for a down payment on a home in San Francisco?
It depends on the loan type and price point. On a $1M condo with FHA, you'd need about $35,000 (3.5%). On a $2M single-family home with a jumbo loan, some lenders require 10% ($200,000) while others go as low as 5%. Down payment assistance programs like SF DALP (up to $500,000) and Dream For All (up to 20%) can significantly reduce your out-of-pocket costs.
What is the FHA loan limit in San Francisco County for 2026?
The 2026 FHA loan limit for San Francisco County is $1,249,125 for a single-family home. This is the national ceiling — San Francisco is classified as a high-cost area. Most condos in the city fall within FHA eligibility, though the condo project itself must be FHA-approved.
What is the conforming loan limit in San Francisco County for 2026?
The 2026 conforming loan limit for San Francisco County is $1,249,125. Any loan above that amount is a jumbo loan. Given the city's $1.5M median home price, a large share of single-family purchases require jumbo financing. Conforming loans work well for the condo market, where prices often fall between $800K and $1.2M.
Can I buy a TIC in San Francisco with a mortgage?
Yes, but financing a TIC (tenancy-in-common) is more complex than a condo or single-family home. Most banks won't finance TICs, or they'll require large down payments and charge higher rates. As a broker, I work with lenders that specialize in TIC financing — including fractional TIC loans where each owner has their own mortgage. Rates and terms vary based on the building's structure and your ownership share.
What first-time buyer programs are available in San Francisco?
San Francisco buyers have access to several programs: SF DALP (up to $500,000 deferred loan from the city), Dream For All (up to 20% of purchase price, lottery-based), CalHFA MyHome (up to 3.5% deferred loan), CalPlus with ZIP Extra (up to 3% closing cost grant), FHLBank San Francisco Middle-Income DPA (up to $50,000), and lender-specific DPA programs available through my wholesale partners.
What's the difference between a mortgage broker and a bank?
A bank has one set of rates, one set of guidelines, and one answer. A mortgage broker like me shops your loan across 150+ wholesale lenders to find the best rate, terms, and program for your situation. In a complex market like San Francisco — with jumbo loans, TIC financing, condo approval issues, and self-employed borrowers — that flexibility is especially valuable.
Is San Francisco affordable for first-time homebuyers?
San Francisco is one of the most expensive housing markets in the country, but there are realistic paths for first-time buyers. Condos in the Excelsior, Bayview, and Visitacion Valley start around $800K–$1M. With FHA (3.5% down), SF DALP (up to $500K), and other DPA programs, your out-of-pocket could be significantly lower than you'd expect. I help first-time SF buyers build a strategy that stacks multiple programs together.
How much are closing costs when buying a home in San Francisco?
Closing costs in San Francisco typically run 2–3% of the purchase price. On a $1.2M condo, that's roughly $24,000–$36,000, covering lender fees, title insurance, escrow, transfer taxes, and prepaid items. San Francisco has a city transfer tax that adds to the cost. Some DPA programs like CalPlus ZIP Extra can help cover closing costs specifically.
Can I get a mortgage in San Francisco if I'm self-employed?
Absolutely. San Francisco has a huge self-employed population — tech consultants, freelancers, startup founders, and gig workers. Traditional lenders often struggle with self-employed income, but I have access to bank statement loan programs (12 or 24 months), 1099-only programs, and asset depletion loans that use your liquid assets to qualify. I match your income profile to the lender whose guidelines work best.
What happens if the appraisal comes in low on a San Francisco home?
A low appraisal means the home appraised for less than your agreed purchase price. In San Francisco's fast-moving market — where homes sell in a median of 14 days, often with multiple offers — appraisal gaps happen. Your options include renegotiating the price, bringing additional cash to cover the gap, or switching to a lender with more favorable appraisal guidelines. As a broker with 150+ lenders, I can often find a path forward that a single bank can't.
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