Mortgage lenders in San Francisco, CA

Mortgage costs to compare in San Francisco

Figures come from the official sources listed on this page for the San Francisco area. Lender fees vary; your Loan Estimate shows your actual costs. Henry is not a lender.

Housing market timing in San Francisco

Plan around your contract rather than an assumed busy or quiet buying season. Winter rain can make drainage and moisture inspections especially useful, while fog and exposure differ across the city. Ask inspectors about accessible areas and follow-up visits; allow room for holiday schedules, insurance review and condominium documents before setting financing deadlines.

Landlord rules and local requirements

San Francisco is a consolidated city-county: use the City and County of San Francisco Assessor-Recorder, rather than a separate county office. Eligible owner-occupants can claim up to $7,000 off assessed value through the homeowners’ exemption; this is not a deduction from the purchase price. The full-exemption filing deadline is generally February 15 for qualifying January 1 occupancy. A purchase can trigger reassessment and supplemental property tax bills; ask escrow how those bills differ from prorations and an impound account. For renovation permit history or proposed work, contact the San Francisco Department of Building Inspection. Mortgage financing itself is not a building permit.

Mortgage lender licensing in California

California has more than one mortgage licensing channel. The Department of Financial Protection and Innovation licenses mortgage originators working under the California Finance Law and California Residential Mortgage Lending Act; the Department of Real Estate also oversees certain real-estate-licensee mortgage brokering activities. Check the company and individual in NMLS Consumer Access, including California authorization, employment and disclosed actions. Bank and credit-union originators may be federally registered rather than state licensed; verify the applicable status instead of assuming the same license applies to everyone.

San Francisco home-buying market and neighborhood planning

Start with the ownership structure, not a citywide price headline. A condominium, single-family house, small multifamily building and tenancy-in-common interest can require different documentation and financing. This guide does not assert a current median price or inventory figure. For a specific property, ask the lender to identify the eligible loan category before you commit to a contract deadline. Treat a preliminary conversation as information gathering, not a commitment to lend.

Compare homes in the Sunset District and Richmond District with your actual commute and inspection priorities in mind. In Noe Valley, Bernal Heights, the Mission District and Excelsior, ask what the records say about unit count, additions and permitted living space. For a SoMa condominium, request association documents early. In Bayview or any other neighborhood, examine the individual property’s condition and insurance options instead of inferring eligibility from its ZIP code. Neighborhood names do not establish collateral acceptability or program eligibility.

Mortgage broker San Francisco: lender, bank and credit union differences

A mortgage broker helps arrange a loan through other funding sources; a direct lender evaluates and funds loans through its own lending operation. Banks and credit unions may offer mortgages alongside deposit and other financial services. Ask each contact whether they are acting as a broker or lender on your transaction, who makes the underwriting decision and who will communicate outstanding conditions. A familiar company name does not tell you which entity will appear in the documents.

Ask how compensation and third-party charges are disclosed, whether the person can handle your ownership structure and whether they participate in the assistance program you want. Verify both the individual and company through NMLS Consumer Access. Homeowner Henry does not take the place of a licensed professional and does not underwrite or originate your loan. If you use Henry, the request goes to up to 3 local lenders; there is no obligation to select any of them.

Home loans San Francisco: conventional, FHA, VA and location limits

Conventional financing is not a single product. Ask whether the proposed loan falls within the applicable conforming limit or requires a different lending channel, and how a condominium or multi-unit property will be evaluated. Avoid importing another county’s limits or a previous year’s figures. Your lender should explain required reserves, documentation, mortgage insurance where applicable and property conditions in writing for the actual transaction.

Explore FHA-insured financing through HUD’s homebuying information and VA-backed options through VA housing assistance if your eligibility supports them. Neither program eliminates property review, documentation or closing costs. For USDA financing, check the exact address and household requirements in the USDA eligibility tool; do not assume an urban San Francisco property qualifies for a rural program. Ask for a clear explanation of any program-specific insurance or funding charges rather than relying on a generic loan label.

First time home buyer San Francisco: California and city assistance

CalHFA MyHome provides a deferred junior loan for eligible first-time buyers using participating CalHFA financing. Its published maximum is based on the lesser of purchase price or appraised value: up to 3.5% with the FHA option or up to 3% with the conventional option. Borrowers must meet program requirements, including primary occupancy, income limits and homebuyer education. Assistance is a loan with its own obligations, not unrestricted cash and not an automatic entitlement.

California Dream For All offers qualifying buyers up to 20% for down payment or closing costs, capped at $150,000. It uses a voucher selection process, and repayment includes the original assistance plus a share of appreciation when a triggering event occurs. First-generation and first-time-buyer requirements apply. Review the current application window and official instructions directly; a published program page does not mean applications are open or funds are reserved for you.

The city’s Mayor’s Office of Housing and Community Development homebuyer programs include DALP, Below Market Rate ownership and the City Second Loan Program. DALP lists assistance up to $500,000 as funds are available; BMR ownership carries resale restrictions, while City Second applies to designated properties and includes city resale rights. Speak with a housing counselor about education, household eligibility, funding rounds and participating lenders before making an offer. Do not assume state and city assistance can be combined; obtain confirmation from every program involved.

Loan Estimate and Closing Disclosure: read the documents together

The CFPB Loan Estimate explainer is a practical starting point for organizing loan terms, itemized charges and cash needed to close. For most covered mortgages, the lender must provide the form within three business days after receiving an application. Check that the property, loan amount, purpose and loan type reflect the same assumptions across lenders. Ask which services you may shop for and which providers must satisfy the lender’s requirements. A disclosure is not a final lending commitment.

The CFPB Closing Disclosure explainer describes the final disclosure that must generally be received at least three business days before closing. Compare it with your most recent Loan Estimate, checking loan costs, title and escrow charges, credits, deposit accounting, tax prorations and cash to close. Ask for an explanation of every unexpected change before signing. Keep copies of revised forms and correspondence so you can distinguish an authorized change from an error in the closing package.

How to compare mortgage lenders without relying on slogans

Prepare the same scenario for each lender: property address when available, intended occupancy, ownership structure, proposed loan amount, source of funds and target closing date. Supply accurate information about income and existing obligations through a secure channel. Ask when the file will reach underwriting, which conditions are already identified and who handles an absent loan officer. The most useful comparison is a documented process and a consistent scope, not an advertising superlative.

Place Loan Estimates side by side and separate lender-controlled costs from title services, government charges and prepaid items. Check whether a lender’s presentation assumes credits or different cash contributions. Ask how long each estimate remains applicable and what changes would require a revised disclosure. Read DFPI’s mortgage originator guidance and confirm status independently before sending sensitive records. Do not use an unsolicited message’s contact details as your sole method of verifying a person or company.

California closing timeline and San Francisco closing costs

An escrow timeline depends on the purchase agreement, financing conditions, title review and any assistance-program processing. The California Department of Real Estate escrow guide explains the roles of escrow instructions, funding and recording. Build your checklist around contract deadlines: inspections, association review, appraisal access, insurance documentation, underwriting conditions and final disclosure review. Do not treat a requested closing date as confirmation that every participant can meet it.

San Francisco is one consolidated city-county, so use its Assessor-Recorder fee schedule rather than adding an unrelated county’s fee structure. Recording charges vary with document titles, page count and applicable exemptions. The city transfer tax rules use consideration or value and require a transfer tax affidavit for covered documents. Have escrow show the calculation, any exemption and the contractual allocation; a tax associated with the transaction is not automatically a buyer expense.

Before transferring closing funds, independently confirm instructions with your known escrow contact using a previously verified telephone number. Treat changed wiring instructions or last-minute requests as reasons to stop and verify. Ask when funds must arrive, when documents will record and how possession is handled under the agreement. Keep the final settlement statement, recorded ownership documents, insurance records and program agreements together for future tax questions, a later sale or refinancing.

Property taxes, ownership records and refinancing checks

Budget for ownership obligations beyond the signing appointment. The seller’s tax bill is not a reliable forecast of the buyer’s future assessment, and supplemental bills can arrive separately. Ask the Assessor-Recorder and escrow which notices you should expect and where they will be mailed. Review the San Francisco homeowners’ exemption instructions if you will occupy the property as your principal residence; the exemption changes assessed value, not the property’s market price.

For refinancing, disclose every existing lien, including down-payment assistance. Ask the program administrator whether the proposed transaction requires repayment or permission to subordinate the assistance lien. Review new closing charges, title requirements and any restrictions in the original assistance agreement before proceeding. A refinance is a new transaction requiring its own review; neither an existing loan nor a history of ownership replaces the new lender’s documentation and collateral requirements.

After you move: home projects to organize without prices

Use the inspection report to build a phased list after possession. Start with safety concerns and active water intrusion, then plan comfort and cosmetic work. In a condominium, confirm responsibility for common elements and obtain association permission where required. Check proposed scopes with the San Francisco Department of Building Inspection before authorizing work; the mortgage process does not authorize construction.

After-you-move list: interior painting after checking surface condition; roof evaluation for documented leaks; gutter and downspout maintenance to manage runoff; HVAC inspection and servicing; window condition and weatherstripping assessment; and bathroom ventilation or moisture corrections. Ask appropriately licensed contractors to distinguish maintenance from work requiring permits. Keep photographs, written scopes, permit records and completion documents with your ownership file. No project prices are included here because the correct scope depends on the home.

Areas Henry covers

Sunset District · Richmond District · Noe Valley · Bernal Heights · Mission District · SoMa · Bayview · Excelsior

Common questions

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