Are you looking to purchase your first home in Los Angeles County? With the right programs, you can make your dream of homeownership a reality. The City of Los Angeles Department of Housing and Community Investment (HCIDLA) offers several programs that can help first-time buyers. The Homeownership Program (HOP) provides funding to low-income families looking to purchase existing housing in Los Angeles County. This program offers 0% interest loans with deferred payment.
Repayment is required when the home is sold, there is a transfer of title, or the house is no longer occupied by the owner. The Shopping Assistance Program for People with Low Income (LIPA) and the Mortgage Credit Certificate (MCC) are two other programs that can help first-time buyers. LIPA helps cover down payment, closing and acquisition costs for those purchasing a home in the city of Los Angeles. For those shopping outside the city limits, similar programs are managed by the Los Angeles County Development Authority. In certain areas, the requirement to purchase for the first time is eliminated. This means that homeowners in those regions could take advantage of the program to exchange it for a larger property or with more amenities. If you're not sure which program to choose for your first mortgage, your lender or real estate agent can help you find the right program based on your financial and homebuying goals. As an expert in SEO, I recommend that you take advantage of all the programs available to first-time homebuyers in Los Angeles County.
These programs can help you save money on your mortgage and make it easier to purchase your dream home. With the right guidance from a lender or real estate agent, you can find the perfect program for your needs and make your dream of homeownership a reality.