San Francisco Hard Money and Investor Loans
One certificate of occupancy date decides what you can charge, and when.
USA Mortgage funds investors across the San Francisco Bay Area. Transfer tax turns on your price, not your rate. Rent regulation shifts by city, and sometimes by block. Business-purpose loans only, terms set in underwriting.
You hear the decision from the people who underwrote your deal.
The transfer tax cliffs can outweigh a year of rate spread
San Francisco's transfer tax applies to the entire sale price once a threshold is crossed, not just the amount above it. Crossing $10,000,000 adds $325,000 in tax, and crossing $5,000,000 adds $75,000, both larger than a full year of a 100 basis point rate difference on the same loan.
One date, not the neighborhood, decides a rental's rent cap
San Francisco's rent control line sits at June 13, 1979: multi-unit properties with a certificate of occupancy on or before that date fall under the annual increase cap, while newer units are exempt from the cap but still carry just-cause eviction protections. Pull the certificate of occupancy date before you underwrite a rent roll.
A mandatory seismic retrofit can also be the path to more units
Pre-1978 wood-frame buildings of five or more residential units and two or more stories over a basement fall under San Francisco's mandatory soft-story retrofit program. The same seismic upgrade also qualifies a building for unlimited accessory dwelling units under San Francisco's ADU rules, so a required capital cost and a density opportunity land on the same building at the same time.
Loan programs in San Francisco
Acquisition through exit, all funded or arranged by one lender.
San Francisco lending questions
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