New Member from San Francisco California

[Tatha L.]

Hi, my name is Tat. My wife and I live in one of the most competitive markets, the Bay Area (San Francisco). We are looking to buy our first property hopefully next year. To be able to afford in San Francisco we'll have to do house hacking and rent out part of the house. While searching for podcasts on real estate. BiggerPockets came up and I've been amazed at the quality of content. I look forward in using all the information here and recommendations to buy our first property and beyond. 

Current situation:

We both just started new jobs things year that pays much better. We are saving about $5000-$6000 per month for a future down payment. There is an interesting 100% financing loan from San Francisco Credit Union. It has a fixed interest rate every 5 years, cannot increase over certain %. Loan offers says we would qualify for $1 million and need to have about $60000 cash to cover closing costs and 3 months reserve. What do you guys think about this financing option? I can provide more details.