Can I use the Downpayment Assistance Loan Program to purchase rental property in San Francisco?
No, according to the Mayor’s Office on Housing, funds from the Downpayment Assistance Loan Programs are available only to purchase a single family residence, not rental properties. The borrower must occupy the purchase's property as their primary residence throughout the term of the loan. If the owner moves out during the term of the loan and no longer occupies the property, the Downpayment Assistance Loan Programs loan must be repaid.
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