Often the biggest barrier for first-time home-buyers in San Francisco is the down payment. Traditional banks usually require 20% down. In San Francisco, the median home value is a whopping $1.14 million, where a 20% down payment equates to $228,000.
5% Down, No PMIBeginning 2019, SELFi is enabling San Francisco Bay Area home-buyers to purchase condos and single family residences with only 5% down on loan amounts up $2 million. There is no private mortgage insurance (PMI) required. On a $1.14 million purchase, the down payment is only $57,000.
“SELFi is opening the door to home-buyers who would otherwise be shut out of the housing market.”