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San Francisco Mortgage Rates

Updated: May 20, 2024

Compare today's rates for Mortgage Refinance in CA

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Mortgage rates for San Francisco, California go down to 3.00%

Monday, May 20, 2024

Mortgage rates for San Francisco, California on Lender411 for 30-year fixed-rate mortgages are at 3.00%. That dropped from 3.00% to 3.00%. The 15-year fixed rates are now at 2.56%. The 5/1 ARM mortgage for San Francisco, California is now at 4.56%.

San Francisco mortgage refinance ratesSan Francisco is the popular crown jewel of Northern California's Bay Area. The city is best known for its rolling hills and fog that appears, even during the summer. San Francisco has an interesting mix of Victorian and modern architecture. Famous landmarks include: the Golden Gate Bridge, Alcatraz Island and San Francisco's illustrious China Town. 

San Francisco FHA Loans

The Federal Housing Administration (FHA) insures loans that have long been favorites of first time buyers and those with smaller cash reserves thanks to its low down payment requirement and relaxed credit standards. If you qualify, you'll be subject to the following requirements:

  • Down payment, loan-to-value (LTV): 3.5%, 96.5%.
  • Credit score minimum: Typically 580 or greater. 
  • Debt-to-income (DTI): Typically 45-50% or less. 
  • Upfront mortgage insurance of 1.75% the base loan amount is required. 

Annual mortgage insurance premiums of varying percentage are also required, and paid monthly. New FHA borrowers, however, will receive annual MIP rates of half a percent lower than the original rate, typically 1.35%.

San Francisco First Time Homebuyer Loan Programs

San Francisco is an expensive city to live in, especially if you’re a first time home buyer. Luckily, the city has several resources for you to use if you are having a hard time with the financial aspects of owning a home, including down payment assistance and mortgage tax credits. To learn more about these programs and your eligibility, visit Lender411's page for San Francisco first mortgage.

Statewide Grants and Assistance Programs

The California Housing Finance Agency, or CalHFA, offers several options for first-time mortgage, down payment assistance, grants, and tax credits. Among them are:

  • Zero Interest Program (ZIP).
  • Energy Efficiency Mortgage (EEM) Grant .
  • Extra Credit Teacher Home Purchase Program (ECTP).
  • Mortgage Credit Certificate (MCC) Tax Program.

More programs are available, and many work in conjuction with both conventional (non-government) and FHA loans. Read about each on the CalHFA official site

Popular loan programs

user suit Lenders in: San Francisco, California.

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