San Francisco · Oakland · East Bay · NMLS #1498678
Mortgage lender for San Francisco & Oakland: self-employed, investors, and condos
Bank statement and asset-based loans, DSCR for 1–4 and 5–10 units, non-warrantable condos, interest-only options, and bridge loans — every cost itemized upfront, and an average clear-to-close of 17 days.
30
Residential Programs
Of 50+ total programs
17
Day Avg. Close
Clear-to-close timeline
1–10
Unit DSCR
Houses to small apartments
$0
Surprise Fees
Itemized on day one
Lumen Mortgage Corporation (NMLS #1498678) is licensed in California and Oregon, financing homes, condos, and rentals in San Francisco, Oakland, Berkeley, Alameda, Emeryville, and Piedmont across San Francisco and Alameda counties. We offer 50+ loan programs spanning residential, multifamily, agricultural and commercial, with an average clear-to-close of 17 days.
Who is a good mortgage lender in San Francisco and Oakland?
Lumen Mortgage finances homes, condos, and rentals across San Francisco, Oakland, Berkeley, Alameda, and the East Bay. We offer 30 residential programs (50+ loan programs spanning residential, multifamily, agricultural and commercial), an average 17-day clear-to-close, and every cost itemized upfront. That includes bank statement and asset depletion loans, DSCR loans for 1–4 and 5–10 unit rentals, non-warrantable condo financing, interest-only options, unlimited cash-out, and bridge loans.
Best for: Self-employed buyers, buyers qualifying on assets, investors buying 1–10 unit rentals, condo buyers, and move-up buyers across San Francisco and Oakland.
2026 Market Numbers
What does it take to buy a home in San Francisco and Oakland?
San Francisco and Alameda counties are both at the 2026 high-cost ceiling of $1,249,125 for conforming and FHA loans. Many Oakland homes and SF condos fit under that line, while most single-family homes in San Francisco, Piedmont, and the Berkeley and Oakland hills need jumbo financing. In San Francisco the typical home is worth about $1.44 million, up 15.5% in a year and going pending in about 13 days, so most single-family purchases there are jumbo. In Oakland it's about $711,000, well under the limit, and in the city of Alameda about $1.15 million, just under it.
San Francisco typical home value
~$1.44M
Zillow, Sep 2026 (up 15.5%, ~13 days to pending)
Oakland typical home value
~$711K
Zillow, Sep 2026 (up 0.6%, ~16 days to pending)
Alameda (city) typical home value
~$1.15M
Zillow, Sep 2026 (up 2.1%, ~16 days to pending)
Alameda County typical home value
~$1.04M
Zillow, Sep 2026 (down 0.4%, ~18 days to pending)
SF & Alameda conforming limit
$1,249,125
1 unit, high-balance, 2026
SF & Alameda FHA limit
$1,249,125
1 unit, 2026 · 2–4 units $1.60M / $1.93M / $2.40M
Home values are approximate, based on public market reports. Loan limits are 2026 FHFA and HUD figures. Sources: FHFA, HUD FHA limits, Zillow (San Francisco), Zillow (Oakland), Zillow (Alameda).
Built for the Bay Area
Which loan fits a San Francisco or Oakland purchase?
Bay Area buyers often earn through a business, live on investments, or buy rentals and condos that don't fit agency rules. Here's how we match programs to the way people actually buy here.
Founders, contractors, and the self-employed
Tax returns rarely show what a Bay Area business owner really earns. Bank statement loans qualify you on 12–24 months of deposits, and 1099 or P&L loans work for consultants and freelancers.
Assets as income, no job required
Between jobs, retired, or living on investments after an IPO or exit? Asset depletion loans turn savings, brokerage, and retirement accounts into qualifying income, so you don't need a paycheck or taxable distributions.
Investors: 1–4 units
Oakland duplexes and fourplexes, SF condos, and East Bay rentals. DSCR loans qualify on the property's rent, not your personal income, with interest-only and 40-year fixed options. DSCR requires a 620+ credit score.
Investors: 5–10 units
Small apartment buildings in Oakland, the Mission, and the Sunset don't fit residential guidelines. Our 5–10 unit DSCR programs qualify on the building's rent, with no personal income documentation.
Condos, including non-warrantable
Many SF and Oakland condo buildings fail agency rules because of a single investor owning too many units, pending litigation, commercial space, or a low owner-occupancy rate. Our portfolio and non-QM programs finance non-warrantable condos for primary homes, second homes, and rentals.
Move-up buyers and cash-out
Buy your next home before you sell with a bridge loan, or pull equity from a home you already own. We offer cash-out options above $500,000 with no cap on cash out, subject to loan-to-value limits.
Residential Programs
Home loans available in San Francisco and Oakland
Bay Area buyers can choose from bank statement, asset depletion, DSCR (1–4 and 5–10 units), non-warrantable condo, bridge, jumbo, 1099, P&L, conventional, FHA, and VA loans. The right one depends mostly on the property and how you earn your income.
| Purchase price | Usual best fit | Typical areas |
|---|---|---|
| Up to $1,249,125 | Conventional and high-balance conforming, FHA 3.5% down, VA 0% down; CalHFA assistance for first-time buyers | Oakland, San Leandro, Hayward, Richmond, the city of Alameda, many SF condos |
| Above $1,249,125 | Jumbo — 10% down for most buyers and 0% down for VA and physician loans, no mortgage insurance, 40-year fixed with 10 years interest-only available | Pacific Heights, Noe Valley, Rockridge, Piedmont, North Berkeley |
| Self-employed or no job | Bank statement, 1099, P&L, or asset depletion qualifying instead of tax returns or a paycheck | Founders, contractors, retirees, and investors region-wide |
| Rentals and condos | DSCR for 1–4 and 5–10 units (620+ credit), non-warrantable condo financing, interest-only available | Oakland multi-units, SF condos, East Bay rentals |
Price ranges assume a primary residence unless noted and are guides, not approvals. Your best program depends on credit, down payment, income, and the property.
Bank Statement
Qualify on 12–24 months of deposits.
Asset Depletion
Qualify on savings and investments.
DSCR 1–4 Units
Qualify on rent. 620+ credit.
DSCR 5–10 Units
Small apartment buildings.
Non-Warrantable Condo
Buildings that fail agency rules.
Bridge
Buy your next home before you sell.
Jumbo
10% down for most buyers; 0% for VA and physicians. No MI.
1099 Income
For contractors and consultants.
Profit & Loss
Qualify on a CPA-prepared P&L.
Crypto
Qualify with digital assets.
Refinance
Rate/term or cash-out above $500K.
ADU
Build or buy with an accessory dwelling.
Conventional
Up to $1,249,125 high-balance.
FHA
3.5% down. Same high-balance limit.
VA
0% down, no monthly mortgage insurance.
Physician
For doctors and medical professionals.
Local Knowledge
What's different about financing a Bay Area property?
Condo approvals
Many SF and Oakland buildings are non-warrantable because of litigation, investor concentration, commercial space, or reserves. We review the HOA questionnaire before you write an offer.
Rent control and tenant protections
San Francisco, Oakland, and Berkeley limit rent increases and evictions on many older buildings. We underwrite DSCR rentals on existing leases and realistic rents, not wishful ones.
Income that doesn't fit a W-2
Equity compensation, business income, and investment income are common here. Bank statement, P&L, and asset-based loans let you qualify on how your money actually shows up.
Multi-unit appraisals
Two- to ten-unit buildings are valued partly on income. We order appraisals with rent schedules early so the numbers support the loan.
Short-term rental rules
Each city and county sets its own short-term rental rules. Confirm a property can be rented short-term before you buy.
Competitive offers
Desirable homes still draw multiple offers. A 17-day average close, a full pre-approval, and bridge financing help your offer stand out.
Communities Served
Where in the Bay Area do you lend?
Every San Francisco neighborhood, Oakland, Berkeley, and the rest of the East Bay — and the rest of California.
Nearby: Orange County · Sonoma & Napa · Gold Country · El Dorado County · Paso Robles & SLO County.
Preferred Agents
Looking for a great real estate agent in the Bay Area?
Are you looking for a knowledgeable agent who can help you find the best options for your family, schools, work, recreation, and investments in San Francisco and Oakland? We work with the best agents in the region, and we'd be happy to make an introduction.
- Schools and neighborhoods
- Commutes and remote-work setups
- Condos and multi-unit buildings
- Neighborhood rent and resale trends
- Relocations and move-up purchases
- Investment opportunities
Client Reviews
What California borrowers say
5.0 stars across 62 reviews: 40 Google reviews · 15 Zillow reviews · 7 Yelp reviews
"David and his team did an amazing job from the beginning to end."
"He takes the time to show you all options available to you as a buyer. We will use David and his team at Lumen for all future transactions."
Jenna D.
Gold Country homebuyer · Google review
"David and his team are top-notch. We've worked with many lenders over the years and David is in a league of his own. We'll never use a different lender!"
Wendy L.
Jumbo refinance, El Segundo · Google review
"David is amazing to work with!"
"He is incredibly thorough and patiently answers all of my many questions. Lumen uses a very impressive program to visually compare the rates, which made my decision making process a breeze. The refi process was so quick. I recommend David and Lumen Mortgage to everybody!"
Jett L.
California refinance client · Google review
"I’ve worked with many different lending teams and David Blackmon is hands-down the best."
"Customer service, industry knowledge, responsiveness, etc. are all five-star quality. This team is the best in the business!"
Tom P.
California client · Google review
FAQ
Common questions from San Francisco and Oakland buyers
What are the 2026 loan limits in San Francisco and Alameda counties?
Do you offer interest-only payments?
Can I qualify for a mortgage without a job?
Do you offer cash-out refinances over $500,000?
Can I get a mortgage in the Bay Area if I'm self-employed?
Do you finance non-warrantable condos in San Francisco and Oakland?
Can I buy a 1–4 unit rental with a DSCR loan?
Do you finance 5–10 unit apartment buildings?
Can I buy my next Bay Area home before I sell?
Can I finance a short-term rental in San Francisco or Oakland?
Can I use crypto to qualify for a mortgage?
Can I use a VantageScore to get a mortgage here?
How fast can you close a mortgage in the Bay Area?
Free Tools
Run your numbers
The calculators our clients use most for this market. Part of our 20+ free tools.
Bank statement calculator
Turn 12–24 months of deposits into qualifying income.
Open calculatorAssets-as-income calculator
See how much your savings and investments qualify you for.
Open calculatorDSCR calculator
See if a rental's income covers the payment.
Open calculatorBridge loan calculator
Buy your next home before you sell.
Open calculatorFurther Reading
Guides for Bay Area buyers and investors
How a DSCR Loan Helped an Investor Buy a Below-Market Oakland 4-Plex With Interest-Only Payments
13 min read
Asset Depletion Loans in Oregon and California: Turn Savings and Investments Into Qualifying Income
13 min read
Turn a Free-and-Clear Property Into Your Next Investment With a DSCR Cash-Out Refinance
7 min readBuying in San Francisco or Oakland? Let's run your numbers.
No pressure, no sales pitch. Tell us about the home and we'll show you your options, costs, and timeline upfront. Or call us: 503-966-9255.
Lumen Mortgage Corporation · NMLS #1498678 · Equal Housing Lender · Licensed in Oregon and California. This is not a commitment to lend. All loan approvals subject to underwriting guidelines. Rate and program availability subject to change without notice.