|
Program Name |
Description |
Availability |
|
Los Angeles City LIPA Program |
The Low-Income Purchase Assistance Program (LIPA) provides up to $60,000 in down payment assistance in the form of a "silent" second mortgage that requires no monthly payments for 30 years. The LIPA loan is used in conjunction with a Conventional or FHA first mortgage. The home buyer must contribute 1% of the home purchase price. LIPA is available in the City of Los Angeles. The home purchased must be in excellent condition. To qualify, the applicant must not have owned a home in the last three years, the applicant's household income must fall within in the low-income range, and the applicant must qualify for a Conventional or FHA first mortgage.
|
Currently available |
|
RNLA |
Provides up to $60,000 in down payment assistance to assist in the purchase of rehabilitated bank-owned homes. Visit www.restoreneighborhoodsla.org for more information.
|
Currently available. |
|
Los Angeles County HOP |
Provides up to $45,000 in down payment assistance to assist low-income households purchase homes located in participating cities and unincorporated areas of LA County.
|
Not Currently Available. |
|
Mortgage Credit Certificates |
Provides a federal income tax credit for first-time home buyers. The MCC lowers the home owner's federal income tax obligation which increases their buying power.
|
Currently Available in Los Angeles City and County |
| California Housing Finance Agency |
Provides low interest rate first mortgages and down payment assistance. Available everywhere in California.
|
Currently Available. |
| WISH Program |
Matches a borrower's down payment 3 to 1 up to $15,000 in total assistance. For low-income households.
|
Currently Available. |
| CHF Platinum Program |
Provides a grant that can be used for the borrower's down payment on an FHA loan. The grant amount is equal to 3% of the loan amount, so the amount of borrower contribution is only about 0.50% of the purchase price (half percent)
|
Currently Available. |
| Civic Center Advantage Program |
Finance up to 95% of the home purchase price with no mortgage insurance. |
Currently available. |
