South San Francisco Employee Down Payment Assistance Program (Pre-Application)

Greetings!

Thank you for your interest in South San Francisco's Employee Down Payment Assistance Program! Please note, the information you submit on this Pre-Application will be used to determine your initial eligibility and buyer preference to apply for a loan from the City of South San Francisco. Information you provide on this pre-application will be verified when you complete a full application for the program. The Pre-Application must be submitted on-line by September 18, 2023. Should you prefer to complete a paper pre-application please reach out to our office by email at hellohousing.org or by phone at (415) 863-3036 and one can be sent to you by mail or by email for you to complete. All paper applications will need to be mailed to our office by September 18, 2023 at the following location:

Hello Housing - SSF EDPA Program
1970 Broadway, ste 100
Oakland, CA 94612

Thanks!
Hello Housing Team

Non-Discrimination Policy

Hello Housing and the City of South San Francisco do not discriminate against any persons on the grounds of race, color, religion, national origin, ancestry, sex, gender, gender identity, gender expression, sexual orientation, marital status, familial status, source of income, genetic information, medical condition, physical disability or mental disability, or any other category protected by law.

Household Information

Below, please provide details for the Primary Applicant and Co-Applicant (if applicable). Please note that this information is being collected for the purposes of identifying all household members who will be residing in the home following the purchase, not for purposes of determining which household members will be borrowers on a mortgage loan. Please note that all adult household members who are listed as co-owners will be required to be listed as owners on title and on the EDPA loan and Senior Loan at time of purchase.

Is there a Co-Applicant?

YesNo

Co-Applicant is Primary Applicant's?

Other, please list relationship

Additional Household Members

Please provide information on any other members of your household, such as children, grandparents, or other adults in the household who are full or part-time residents. This information helps determine your household size.

How many additional household members do you have? (Do not include applicant or co-applicant.)

Household Member #1

First Name

Last Name

Phone

Email

Date of Birth

Relationship to Primary Applicant?

Other, please list relationship

Household Member #2

First Name

Last Name

Phone

Email

Date of Birth

Relationship to Primary Applicant?

Other, please list relationship

Household Member #3

First Name

Last Name

Phone

Email

Date of Birth

Relationship to Primary Applicant?

Other, please list relationship

Household Member #4

First Name

Last Name

Phone

Email

Date of Birth

Relationship to Primary Applicant?

Other, please list relationship

Household Member #5

First Name

Last Name

Phone

Email

Date of Birth

Relationship to Primary Applicant?

Other, please list relationship

Household Member #6

First Name

Last Name

Phone

Email

Date of Birth

Relationship to Primary Applicant?

Other, please list relationship

Household Member #7

First Name

Last Name

Phone

Email

Date of Birth

Relationship to Primary Applicant?

Other, please list relationship

Household Member #8

First Name

Last Name

Phone

Email

Date of Birth

Relationship to Primary Applicant?

Other, please list relationship

Current Living Situation & Homeownership Goals (Optional)

Please share your current situation on this page. Your responses will not impact your eligibility for the program, but will help us understand who is benefitting from this program.

Current Situation

What best describes your current living situation?

What is your current monthly rent?

Date last sold a home (if applicable)?

Supplemental Information

First-time Homebuyer Requirement: The Employee Down Payment Assistance (EDPA) loan requires that no member of the applicant household have owned any interest in a residential unit during the three-year period preceding the date of the Pre-Application. An applicant shall be deemed to have owned an interest in a residential unit regardless of whether or not that interest resulted in a financial gain, is in another state or county, or if the applicant has ever used the property as a primary residence. Notwithstanding the foregoing, if an Applicant possessed any of the following interests in a Residential Unit in the three-year period preceding the date of application shall not, by themselves, disqualify an Applicant from being considered a First-time Homebuyer: (1) timeshares; (2) non-occupying co-borrower who may have co-signed on a loan from previous real estate transactions but was not on title; (3) designation as trustee for a trust, where the trustor is living and occupying the Residential Unit; (4) designation as beneficiary of a trust that includes a Residential Unit amongst the trust assets where the trustor is living and occupying the Residential Unit; and (5) shares in a limited equity co-operative.

Income and Asset Limits: Eligible Applicants are not subject to an income limit in order to be eligible for the EDPA Program. However to ensure that limited Program funds support employee's most in need of assistance, eligible Applicants may not have more than $300,000 in Liquid Assets at the time of application. If an Eligible Applicant's Liquid Assets are less than or equal to $300,000 at the time of application, the Eligible Applicant may retain a maximum of $60,000 and must apply any Liquid Assets in excess of $60,000 toward the purchase of the Residential Unit.

Owner Occupancy: Applicants must occupy the Residential Unit as their Principal Residence within 60-days after thee close of escrow and thereafter occupy the unit as their Principal Residence or the EDPA loan term.

Personal Down Payment Requirements: Applicants must provide a minimum of a 3% down payment towards the Purchase Price.

Qualifying Ratios: No maximum Front-end Debt Ratio shall be imposed. However, there is a maximum 45% Back-end Ratio to qualify for the EDPA loan.

Credit Worthiness: The EDPA Program will rely on the First Lenders to underwrite an Applicant's creditworthiness and will not impose any specific minimum FICO Score.

Certification of Information

By checking this box, and writing my name in the space below, I certify that the foregoing application accurately reflects all income received from all sources for all members of the household.

I certify under penalty of perjury under the laws of the United States of America that the foregoing is true and correct to the best of my knowledge. I further understand that providing false representations herein constitutes an act of fraud and that false, misleading, or incomplete information may result in the termination of real estate purchase documents related to this application (28 U.S. Code 1746).

First Name

MI

Last Name