How expensive and unaffordable is the San Francisco Bay Area?
Enter the San Francisco Federal Credit Union with the POPPY LOAN!!
* POPPYLOANTM is available to anyone who works in San Francisco or San Mateo County.
* The home you want to buy and will live in as your primary residence must be located in one of the 9 Bay Area Counties. These are San Francisco, San Mateo, Marin, Napa, Sonoma, Santa Clara, Alameda, Contra Costa, Solano.
*You can finance up to 100% of the purchase price or appraised value, whichever is less – all in one loan.
*Loans are available up to $2,000,000.
*There is NO added cost of Private Mortgage Insurance (PMI).
I can’t believe that the credit union is self-insuring these loans (no PMI). Something smells … and it isn’t poppies.
Here is the risk management team at San Francisco Federal Credit Union designing the Poppy Loan program.