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Rene Ramos
(310)386-1693 Call/Text
Sr. Loan Officer
NMLS # 1004421 DRE Lic #02133360
City of Los Angeles
First-Time Homebuyer Finacial Assitance
Assisting all 15 Districts of the City of Los Angeles, from San Pedro to the San Fernando Valley
Program Loan Terms and Conditions
- The Assitance is a loan, which is deferred and requires no monthly payment.
- Loans have a Shared Appreciation component in which the City will share a certain
percentage of the appreciation in the value of the property.
Homebuyer's Qualification Requirements
- Applicant(s) must be A first-time homebuyer.
- Meet the program's income limits and guidelines.
- Be US Citizen, Lawful Permanent Resident, or othe qualified lawful aliens.
- Must have a middle score no lower than 660.
- Applicant must attend an 8-hour Homebuyer Education Course with an approved provider.
- Homebuyers must contribute a minimum of 1% of the house price from their own funds.
Down Payment and Closing Cost Assistance Programs
- Up to $161,000 - LIPA - Low Income Assistance Program.
- Up to $115,000 - MIPA 120 - Moderate Income Purchase Assistance Program.
- Up to $90,000 - MIPA 150 - Moderate Income Purchase Assistance Program.
- Homebuyer must occupy the property as a primary residence.
- Repayment is due on sale, title transfer, first mortgage repayment, or in 30 years.
Resources (click on link below)
*Funds for these programs may be limited. Not all applicants may qualify for this program. This page does not list all program and loan requirements, additional program and loan requirements may apply.
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