\n\n \n\n\n","author":{"@type":"RealEstateAgent","name":"Michelle Kim","url":"https://mosaikrealestate.com/team","image":"https://media-production.lp-cdn.com/cdn-cgi/image/format=auto,quality=85,fit=scale-down,width=960/https://media-production.lp-cdn.com/media/vdtksgqfx4qdusvaihlu","telephone":"(415) 205-0742","description":"Meet Michelle, the top producer and founder of Mosaik Real Estate, who is a triple threat in the industry, known for her hardworking, knowledgeable, and trustworthy approach, which has earned her a stellar reputation among her clients. With a wealth of experience in sales and a background in the title and escrow field, Michelle is committed to providing a full-service experience that exceeds expectations and leaves both buyers and sellers totally satisfied. As a bilingual agent fluent in English and Korean, Michelle is a focused communicator, an able advisor, and a fierce-yet-fair advocate for her clients. From guiding first-time buyers with her market insights to helping Korean and foreign investors build their real estate portfolios, to using her strong negotiation tactics and seamless marketing offerings to assist sellers, Michelle consistently receives high praise from those who have traversed San Francisco’s complex marketplace. As a mother of three children and a Bay Area native, Michelle is passionate about the cultural, recreational, and social opportunities that San Francisco offers. Her firsthand experience raising a family in the Bay Area makes her an extraordinary resource for parents of young children. Overall, Michelle’s expertise, dedication, and unwavering commitment to delivering exceptional results make her an indispensable asset to her clients, who are consistently impressed with her unparalleled service and outstanding results.","priceRange":"$","address":{"@type":"PostalAddress","streetAddress":"580 4th Street","addressLocality":"San Francisco","addressRegion":"CA","postalCode":"94107","addressCountry":"US"}},"publisher":{"@type":"Organization","name":"Mosaik Real Estate","logo":{"@type":"ImageObject","url":"https://media-production.lp-cdn.com/cdn-cgi/image/format=auto,quality=85/https://media-production.lp-cdn.com/media/ixpurfmka7zayzy64wag"},"address":{"@type":"PostalAddress","streetAddress":"580 4th Street","addressLocality":"San Francisco","addressRegion":"CA","postalCode":"94107","addressCountry":"US"}}}

Leave a Message

Thank you for your message. We will be in touch with you shortly.

How To Apply For The DALP Program

michelle April 29, 2020

How To Apply For The DALP Program

Are you a San Francisco resident who dreams of owning a home in the city, but feels the up-front costs are out of reach? Fortunately the City and County of San Francisco offers three lottery-based down payment assistance programs for up to $375,000: the Downpayment Assistance Loan Program (DALP), Educators-DALP, and First Responders Downpayment Assistance Loan Program (FRDALP). For all three, you don’t have to make any payments on the loan for 30 years or until the property is sold. In return, you pay back the principal amount plus a share of appreciation in the property’s value. 
Mosaik Real Estate believes in the value of homeownership, and wants to make it a reality for as many people as possible. We are proud to have helped 18 first-time buyers purchase the home of their dreams using these three programs.
In this blog post, we cover what you need to know about DALP. If are interested in applying for DALP, here are the main steps:

1.   Determine Your Eligibility

In order to be eligible any homebuyer assistance program, the city requires you meet certain criteria (listed here). You must be:

    • A first-time homebuyer
    • Income-eligible
    • Complete approved homebuyer education
    • Pre-approved for a mortgage loan by an approved lender
    • Have enough in savings for closing costs and downpayment (as determined by a city housing counselor)

Income eligibility is program-specific. For DALP, your household income cannot exceed 175% of the Area Media Income (AMI) for your family size. This is a sliding scale (full chart for 2019 available here), but here is a snapshot based on some typical family sizes:

Maximum Income Levels for FRDALP Eligibility
 Household Size  175% AMI in 2019
1 person $150,850
2 people $172,400
4 people $215,500

In addition, you must contribute a minimum of 3% (1.5% of your own funds, and remainder from gifts or grants) toward the down payment.

2.   Monitor Annual Deadline

DALP is administered annually with a clear application deadline. However, because of COVID-19, the normal program dates for 2020 have been delayed. The city expects the application window to open in July and go on for at least 45 days. You can sign up for this mailing list to receive official updates about application opening and closing dates.

3.   Apply

Once the application window is open, DALP will begin accepting applications. Given our experience working with 18 successful recipients of the city’s homebuyer assistance programs, we would be happy to help guide you through each step of the application process.

4.   After You Apply

Assuming you apply before the application deadline, you will receive a lottery number. As a DALP candidate, you would be selected in lottery rank order after candidates for both FRDALP and Educators-DALP. If you are selected and approved, you can use the loan on a downpayment for any property on the open market. Successful recipients of DALP financing should be aware of three things:

    • Purchasing, review, and closing may take up to 5 months.
    • You have 60 days to enter a sales contract.
    • There is a nonrefundable fee ($646 in 2019-2020) to process the paperwork. This will be collected when DALP funds are reserved for you to close on a property.

DALP is an amazing program for would-be homeowners in San Francisco, but as you can see, there are many steps involved. If you are interested in learning more about the program from a team with a great track record, get in touch using the form below:

Careers

"*" indicates required fields

Drop files here or
Accepted file types: pdf, doc, docx, txt, Max. file size: 10 MB.
    Hidden
    Hidden
    This field is for validation purposes and should be left unchanged.
    Hidden
    Hidden
    Hidden
    Hidden
    Hidden

    Recent Blog Posts

    Stay up to date on the latest real estate trends.

    The Local Lowdown: April 2025

    Michelle Kim  |  May 1, 2025

    Quick Take: Median sale prices throughout the North Bay have remained fairly strong, with little deviation from their long-term averages. Inventory has fallen by a con… Read more

    The Local Lowdown: April 2025

    Michelle Kim  |  May 1, 2025

    Quick Take: Median sale prices fell slightly on a year-over-year basis in the East Bay. Inventories increased by a substantial margin, as new listings have flooded the… Read more

    The Local Lowdown: April 2025

    Michelle Kim  |  May 1, 2025

    Quick Take: Housing markets across the Bay Area show mixed signals, with single-family homes outperforming condos in most regions. Inventory trends vary significantly … Read more

    We Would Love to Meet You!

    You’ve got questions and we can’t wait to answer them.