$4000 First Time Home Ownership Grand from Southland Regional Ass. of REALTORS.
Requirements:
- You must be a first time homebuyer
- Your combined family income level must be at $120000 or less per year.
- You must attend the LA Neighborhood Housing Services class (LANHS)
- The home must be located in the SRAR region (San Fernando or Santa Clarita Valley)
- Buyer's REALTOR must be a full SRAR member.
City will aid first-time homebuyers - East Valley: Up to $75000 offered to families - Daily News 2/3/09 - RickOrlov
A new no-interest-loan program designed to boost first-time homeownership has been launched with some help from the city.
The LA City Council has approved a $2 million program to provide financial assistance of up to $75000 per buyer in the redevelopment area covering the East Valley.
The area affected roughly includes Panorama City, Pacioima, Mission Hills, Sun Valley, North Hills, North Hollywood and Sylmar.
Under the program, buyers seeking their first home would have to qualify with a lending institution. The city will provide no-interest loans to help them qualify to purchase either a new home or one in foreclosure.
Loans of up to 45 years will be arranged for those who qualify, to reduce the monthly payments.
Measures have been put inte place to make sure the families will live in the home and not use it for investment purpose.
Marianne Leopold
No comments:
Post a Comment