Mission Economic Development Agency (MEDA) DPA - San Francisco

Mission Economic Development Agency (MEDA) DPA - San Francisco is a deferred second loan for homebuyers in San Francisco, California. MEDA provides homebuyer counseling and assists with City of SF DALP and MOHCD DPA programs for Mission District and low-income SF residents. Bilingual (English/Spanish) services. Up to $500,000 in assistance. no monthly payments on DPA. Funding comes from City of SF/CDBG.

Mission Economic Development Agency (MEDA) DPA - San Francisco is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Repayment is triggered by Sale or transfer. The assistance is recorded in Second position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Mission Economic Development Agency (MEDA) DPA - San Francisco is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. On credit, the program states: Minimum 620 FICO score required for all borrowers. A homebuyer education course is required. Residency requirement: Must occupy as primary residence in San Francisco. Citizenship or immigration status: U.S. citizen, permanent resident alien, or other eligible non-citizen.

Mission Economic Development Agency (MEDA) DPA - San Francisco limits household income to 120% of the area median income, which varies by county and household size. Low to moderate income: household income ≤120% AMI. The limit applies to total household income, not only the borrower’s. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Mission Economic Development Agency (MEDA) DPA - San Francisco caps the purchase price as follows: Conforms to FHA/conventional high-balance limits for this high-cost county; contact program for current limits. Eligible property types include Single-family (1-4 unit), FHA-approved condominium, townhome/PUD. New construction is eligible. Manufactured homes are not eligible.

Mission Economic Development Agency (MEDA) DPA - San Francisco serves homebuyers purchasing in San Francisco, California.

Applications for Mission Economic Development Agency (MEDA) DPA - San Francisco go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Contact provider directly; subject to funding availability. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.