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First Time Home Buyers Downpayment Assistance

FIRST TIME HOMEBUYER DOWNPAYMENT ASSISTANCE PROGRAM HIGHLIGHTS

· Down payment assistance has a 0% interest rate and NO monthly payments.
· Assistance will not be repaid until the home is sold, transferred, or refinanced.
· The amount of assistance available is:
$80,000.00 or 20% of the purchase price, whichever is least.
PLUS
$10,000.00 or 6% of the purchase price, whichever is greater.
· Eligible properties are single family homes with a maximum purchase price of $493,000, and attached or detached condominium units or townhomes with a maximum purchase price of $394,250.
· The program are for “First Time Home Buyers.” Eligible buyers must not have owned a home within the past three years.  Home ownership prior to that is acceptable.
· Maximum household income is $78,150.00.  Income is based on current earnings.·  Buyers must intend to live in the properties.

INCOME LIMITATION

Household Size
Max. Annual Income
1
$41,450
2
$47,350
3
$53,300
4
$59,200
5
$63,950
6
$68,650
7
$73,400
8
$78,150

PARTICIPATING CITIES

Agoura Hills El Segundo Rolling Hills
Arcadia Hawaiian Gardens* Rolling Hills Est.
Azusa* Hermosa Beach San Dimas*
Bell Irwindale* San Fernando*
Bell Gardens* La Canada Flintridge San Gabriel
Bradbury La Habra Heights San Marino
Beverly Hills La Mirada* Santa Fe Springs*
Calabasas La Puente Sierra Madre
Cerritos La Verne* Signal Hill*
Claremont* Lawndale* South El Monte*
Commerce* Lomita* South Pasadena
Covina* Malibu Temple City
Cudahy* Manhattan Beach Walnut
Culver City* Maywood West Hollywood*
Diamond Bar* Monrovia* West Lake Village
Duarte* Rancho Palos Verdes*
PLUS all unincorporated areas of Los Angeles County
*call for further eligibility

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Daniel Andrade, REALTOR® DRE #: 01849983
Century 21 My Real Estate Co
7825 Florence Avenue, Downey , CA 90240
call today 323-215-9836
daniel@mynewhouses.com

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