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 A first-time homebuyer does not always have sufficient capital for the down payment or for the monthly payments on the right loan that adjusts to his/her income. This is when public organizations that offer assistance to first-time homebuyers come in handy. These federal, state, and local agencies are great points of reference that offer information on the necessary steps to purchase your first home and on requirements to qualify for loans that cover the down payment, closing costs, first mortgage credit, or home remodeling. The requirements are usually the same for every agency: you must purchase and reside in the home permanently, have an income lower than the county’s average income, limited property value, assist informative seminars, or live within the county one year before the application.
The following are various offices you can consult for more information:
Housing and Urban Development (HUD).
Federal agency with two local offices: - Dept. of Housing and Urban Development (AT&T Building)611 W. 6th Street, Suite 800, Los Angeles CA 90017 USA (213) 894-8000 / www.hud.gov
- Dept. of Housing and Urban Development (Santa Ana Federal Building) | 34 Civic Center Plaza, Room 7015, Santa Ana, CA 92701-4003 | (714) 796-5577/ www.hud.gov
California Housing Finance Agency (CalHFA).
State agency with one local office: - 100 Corporate Pointe, Ste. 250, Culver City, CA 90230 (310) 342-1250 / www.calhfa.ca.gov
Los Angeles Community Development Commission - 2 Coral Circle, Monterey Park, CA 91755 | (323) 890-7248 | www.lacdc.org
Riverside County Economic Development Agency San Bernardino Housing Development Division Orange County Housing and Community Services Other options
You can also obtain information about these programs by consulting a lender approved by these public agencies. For a listing of approved agents, visit: www.echfa.ca.gov/lenders . |
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