San Francisco Federal Credit Union Introduces 100% Home Financing with POPPYLOAN™

New Mortgage Now Available for San Franciscans Who Can’t Make a Down Payment in Skyrocketing Bay Area Housing Market.

San Francisco Federal Credit Union Logo

San Francisco, CA, USA (December 10, 2015) — San Francisco Federal Credit Union today announced the availability of a new home purchase loan option for San Franciscans struggling with Bay Area housing prices. The POPPYLOAN™ mortgage offers up to 100 percent home financing with the possibility of zero down payment required for credit union members seeking to buy a new home.

POPPYLOAN was created in response to skyrocketing home prices throughout the San Francisco Bay Area. Many San Franciscans are paying more than the average mortgage payment in rent every month, but they cannot buy a home because they cannot save enough for the 20 percent down payment required for a conventional mortgage. To help fellow San Franciscans make their dream home a reality, San Francisco Federal Credit Union created the Proud Ownership Purchase Program for You – POPPYLOAN.

POPPYLOAN is available to anyone who works in San Francisco or San Mateo Counties and can be used to purchase a home anywhere in the nine Bay Area Counties: San Francisco, San Mateo, Marin, Napa, Sonoma, Santa Clara, Alameda, Contra Costa, or Solano. Qualified borrowers can finance up to 100 percent of the purchase price of a home, up to $2 million. There is no added requirement for private mortgage insurance (PMI).

“We see POPPYLOAN as a game-changer for the San Francisco real estate market,” said Rebecca Reynolds Lytle, Senior Vice President and Chief Lending Officer for San Francisco Federal Credit Union. “Too many of our members have given up hope of buying a home because of escalating home prices and the required down payment. However, these same families are paying more than a mortgage payment for monthly rent. Paying $3,600 for a one-bedroom apartment is about the same as making a monthly payment on an $800,000 mortgage. We created POPPYLOAN to help middle class families realize their dream of buying a home without having to move out of the Bay Area.”

To qualify for POPPYLOAN, borrowers must be 18 years or older and purchasing a single family home, townhouse, condominium, or 2-to-4 unit multi-family dwelling as their primary residence. POPPYLOAN is structured as a 5/5 adjustable rate, 30-year mortgage. Interest rates and monthly payments are fixed for the first five years and every five years thereafter, with no more than a 2 percent increase every five years and no more than a 6 percent increase over the life of the loan. POPPYLOAN is not available for refinancing an existing mortgage.

“The rising cost of real estate is creating a housing crisis in San Francisco, and while POPPYLOAN isn’t a solution for everybody, we want to do what we can for our friends and neighbors,” said Steven Stapp, President and CEO of San Francisco Federal Credit Union. “We studied the problem and realized that there was no reason our credit union couldn’t offer up to 100 percent financing without requiring PMI. Other credit unions have had success with similar programs and we built POPPYLOAN as the best possible solution we could offer to our members.”

For more information, visit San Francisco Federal Credit Union at http://www.sanfranciscofcu.com.

About San Francisco Federal Credit Union
San Francisco Federal Credit Union has been serving San Francisco since 1954. Today, anyone who lives, works, or attends school in San Francisco and San Mateo Counties may apply for membership. We currently serve more than 37,000 members. San Francisco Federal Credit Union is federally insured by the National Credit Union Administration and is an Equal Housing Lender. NMLS# 416906.

Contact:
Elaine Lee
Marketing Supervisor
San Francisco Federal Credit Union
P: 415-615-7099 F: 415-447-2259
elaine_lee@sanfranciscofcu.com
http://www.sanfranciscofcu.com

Rosendin Electric San Francisco Relocates to Larger Bayview Quarters

New San Francisco Location Offers More Warehouse Space and Room for Expansion.

Rosendin Electric

San Francisco, CA, USA (April 25, 2014) — Rosendin Electric, the nation’s largest private electrical contractor and an employee-owned company, today announced the move of its San Francisco regional office to new and expanded quarters in San Francisco’s Bayview District. The new location offers more office space as well as added warehouse/manufacturing space for prefabrication of electrical systems. Rosendin Electric officially opens the new office April 28.

Rosendin Electric’s San Francisco operations have continued to grow with the city’s recent economic recovery. Three years ago Rosendin Electric had 80 employees headquartered in San Francisco; today the office houses more than 300 personnel. The new space is 16,000 square feet, twice as large as the previous location, and has room for additional staff growth. Added amenities include dedicated off-street parking, additional warehouse space for equipment storage and pre-fab assembly, and accommodation for shipping, receiving, and service dispatch.

“Growing pains are a good problem to have, and to make room for growth we have decided to move our San Francisco operation to larger quarters,” said Rick Shandrew, Senior Vice President of Rosendin Electric. “Construction in the city is booming, and our business is booming along with it. We are currently working on four local hospitals, new office buildings and high-rise residential construction. With our new, expanded office location, we will be in an even better position to support more San Francisco customers and projects.”

About Rosendin Electric
Rosendin Electric, Inc., headquartered in San Jose, California, is an employee-owned electrical engineering, power and communications provider and is the largest privately held electrical contractor in the United States. With over 5,000 employees and experience worldwide, Rosendin Electric has built upon a 90-year reputation for quality design and installations. For additional information, visit http://www.rosendin.com.

Contact:
Shelly Sever
Marketing Manager
Rosendin Electric
(408) 534-2819
ssever@rosendin.com
http://www.rosendin.com