LineaSF Update

Just as yours truly got a sneak peek at The Century SF this week, another new, triangular-shaped condo building, is also taking shape. Here’s the latest from Linnea SF:

Delivery of Linea homes is tentatively scheduled for late Jan/Early Feb 2014 according to our contact there.

How To Get In First

The best positioning for would-be buyers is to reach out to someone like yours truly and we can then approach and secure a pre-qualification where the lender could do a rate lock. The sales office is reportedly doing a soft open this weekend and should be open to the public shortly thereafter.

Preferred Lender List

In case you don’t remember in condos and especially new condos, at least for the first half of sales — maybe even more than 1/2 the units — folks financing a purchase will have to use one of the lenders listed. From the list below, you get the usual suspects.

Why these folks only?
You might be asking yourself how come. Here’s how I understand it: other lenders will not fund on a building where one party — here, the developer — owns the majority of the units. It all has to do with debt obligations and priority of creditors should things go really South. Those other creditors may get first dibs and whatever assets can be liquidated leaving the other smaller ones with nothing.

Jackie Yi, Mortgage Consultant, Builder Division
Wells Fargo Home Mortgage
201 Mission St, Suite 2200
San Francisco, CA 94105
Tel: 415-247-1293
Cell: 510-847-4795
Fax: 866-944-7350
Email: [email protected]
Website: www.wfhm.com/jackie-yi
NMLS# 461964

Carrie Mickelson, Mortgage Advisor
Opes Advisors, Inc.
435 Pacific Avenue, Suite 350
San Francisco, CA 94133
Cell: 415-321-0722
Office: 415-321-6263
Fax: 866-593-7832
Email: [email protected]
NMLS # 360829

Michael Treon, Home Lending Specialist
Citibank
One Sansome Street, 23rd Floor
San Francisco CA 94104
Phone: 415-505-7558
E-FAX 877-340-5777
Email: [email protected]
NMLS # 339550
Deborah Byrne, VP, Retail Sales Manager

Bank of America
1455 Market Street, 14th Floor
San Francisco, CA 94103
Mobile: 415-786-3705
E- Fax: 866-517-5149
Email: [email protected]
Website: https://mortgage.bankofamerica.com/deborahbyrne
NMLS#692071