ALISO VIEJO
City of Aliso Viejo
Mr. David J. Norman, City Manager
City Hall
12 Journey, Suite 100 Aliso Viejo, CA 92656 (949) 425-2500
(949) 425-3899 fax
www.cityofalisoviejo.com
As of May 2005, the City of Aliso Viejo is not offering homeownership programs.
City residents may be eligible for some County programs (see County of Orange section of this guide for more information).
ANAHEIM
City of Anaheim
Housing Services Agency
Mr. Rick Hemingway, Neighborhood Development Coordinator
201 S. Anaheim Blvd., 92805
(714) 765-4340
(714) 765-4654 fax
www.anaheim.net
Amelia Delgadillo (Home Loans) adegadillo@anaheim.net 714-765-4340 ext. 4889
Kristen Villalvazo (Housing Counseling) kvillalvazo@anaheim.net 714-765-4340 ext. 4310
Second Mortgage Assistance, HOME, and HELP Program First-time homebuyer loan programs are available to low-and moderate income households. The property must be located in the City of Anaheim. City loan amounts are $25,000 to $50,000, terms are ten to 30 years, payments are deferred and fixed interest rates are 3% to 5%. The buyer’s down payment must be a minimum of 3% of the purchase price, the property must be owner-occupied, and priority is offered buyers currently residing or employed in Anaheim.
Housing Counseling Services
U.S. Department of Housing and Urban Development (HUD) certified counseling is available for home purchase, post purchase, default and predatory lending. Both individual counseling and group education classes are offered during the year.
BREA
City of Brea
Economic Development Department
Mr. Eric Nicoll, Director
1 Civic Center Circle
Brea, CA 92821
(714) 671-4421
(714) 671-4480 fax
www.cityofbrea.net
Program contact persons:
Housing Rehab Program
Susan Lee, Housing Rehabilitation Specialist
(714) 671-4461
E-mail: susanl@cityofbrea.net
Homebuyer Assistance Program
Laura Halcom, Economic Development Analyst I
(714) 671-4448
E-mail: laurah@cityofbrea.net
Senior Subsidy Program
Kimberly McAllen, Economic Development Analyst II
(714) 671-4425
E-mail: kimm@cityofbrea.net
City residents may be eligible for some County programs (see County of Orange section of this guide for more information).
Homebuyer Assistance Program
The Homebuyer Assistance Program provides no interest second mortgages for low- and moderate-income buyers. Applicants are not required to be first-time homebuyers, but cannot own another home when they purchase a home under the program. The buyer must be able to pay at least 3% of the purchase price towards the down payment and related closing costs. The buyer’s income must not exceed 120% of the Orange County Area Median Income, as calculated annually by HUD.The program is available citywide, for single-family homes, townhouses, and condominiums. The term of the loan is 30 years. No payments are made for the first five years of the term, and fixed monthly payments of principal only are made for the next 25 years. Instead of charging interest on the loans, the Agency shares in the equity of the property.
The loan is due when the property is resold, the house is no longer owner-occupied, the house is refinanced for more than the current first mortgage balance, or there is a transfer of ownership.
CITY OF BREA
120% MEDIAN INCOME LIMITS
HOUSEHOLD
SIZE
MAXIMUM
ALLOWABLE
INCOME
1
$63,6000
2
$72,700
3
$81,750
4
$90,850
5
$98,100
6
$105,400
7
$112,650
8
$119,900
Senior Subsidy Program
This program provides a subsidy to seniors of $208* per month to help pay the cost of monthly rent. Seniors must be at least 62 years of age. The senior’s income must not exceed 60% of the Orange County Area Median Income, as calculated annually by HUD.
*As of 7/1/2004.
Home Improvement/Rehabilitation Loan Program for Single-Family and Multi-Family Properties
Low interest loans are available to very-low and low-income
homeowners for improvement and rehabilitation expenses made on single-family homes, condominiums, townhouse, mobile homes, and apartment complexes.
To be eligible for this program, the owner or tenant’s income may not exceed 80% of the Orange County Area Median Income.
CITY OF BREA
80% MEDIAN INCOME LIMITS
HOUSEHOLD SIZE
MAXIMUM ALLOWABLE
INCOME
1
$43,000
2
$49,150
3
$55,300
4
$61,450
5
$66,350
6
$71,250
7
$76,200
8
$81,100
The maximum loan amount is $35,000 for single-family properties. The minimum interest rate is 0%, but is adjusted upwards, depending on income level of the homeowner, not to exceed 3% or 6% below the prime interest rate. For 0% interest loans the term is 30 years, 15 years for all other loans. Any unpaid loan balance is due and payable at the transfer of title.
BUENA PARK
City of Buena Park
Economic Development Department Ms. May Wong Hui, Director 6650 Beach Blvd.
Buena Park, CA 90622 (714) 562-3586 (714) 562-3573 fax
www.buenapark.com
Home Improvement Program
Lou Ruiz
lruiz@buenapark.com
(714) 562-3589
First-Time Homebuyer Program/Community Development Block Grant
Chris Hoang
(714) 562-3590
choang@buenapark.com
Maria Siacunco msiacunco@buenapark.com
(714) 562-3591
Home Improvement/Rehabilitation Loan Program
Deferred Loan Program:
The deferred loan program is available to homeowners earning less than 80% of the Orange County Area Median Income (AMI). The maximum loan amount is $32,000, accruing simple interest at 5% per year. No payments of principal or interest are required as long as the applicant continues to own and reside at the improved property. Interest accrues only the first 15 years of the loan term, after which interest is no longer charged.
Repayment of the principle and accrued interest on the loan is required upon sale or transfer of title on the property, or if the owner no longer occupies the residence.
Amortized Loan Program:
The amortized loan program is available to homeowners earning less than 100% of the Orange County Area Median Income. For homeowners earning up to 100%, 6% simple interest is charged on the loan. Homeowners earning less than 80% are eligible for a 3% amortized loan. As with the deferred loan, the maximum loan amount is $32,000.
The amortized loan is payable over a term of 15 years. The homeowner is responsible for monthly payments of principal and interest. The amortized loan would become immediately due and payable upon sale or transfer of the home or if the owner leases the residence and no longer occupies the unit.
Rebate Program:
Rebates of rehabilitation construction costs are available to homeowners earning less than 80% of the Orange County Area Median Income. For those families earning up to 80% of AMI, a 30% rebate is offered. Homeowners earning less than 65% of AMI are eligible for a 40% rebate. The maximum rebate amount in both cases is $5,000. Rebates do not need to be repaid by the homeowner. Homeowners can apply for the rebate program once every five years.
In the rebate program, the homeowner funds the entire construction cost. At the end of construction, the homeowner submits receipts for the eligible renovation costs and the home is inspected by Home Improvement Program staff. When the inspection is complete, a rebate check is issued to the homeowner.
The First-Time Homebuyer Program
To be eligible, the buyers’ income must not exceed 80% of the Orange County Area Median Income (please see below). Maximum Sales Price/Value of the property cannot exceed $351,500 for condominium and $422,750 for single-family residence. The applicant must contribute a minimum of 3% of the purchase price as a down payment. The maximum loan amount is $100,000 in the form of a silent second mortgage (loan deferred up to 30 years at
3% simple interest). The City will provide the loan for down payment and closing cost assistance (up to $5,000 can be used for non-recurring closing costs).
The applicant’s household income cannot exceed the following:
CITY OF BUENA PARK
80% AREA MEDIAN INCOME LIMITS
HOUSEHOLD SIZE
MAXIMUM ALLOWABLE INCOME
1
$43,000
2
$49,150
3
$55,300
4
$61,450
5
$66,350
6
$71,250
7
$76,200
8
$81,100
Second mortgage loans are provided on a first-come, first- served basis to qualified first-time homebuyers. Priority for loan assistance will be given to applicants that:
• provide evidence of a first mortgage loan approval;
• have a signed Purchase & Sales Agreement including a
signed City of Buena Park Addendum to Purchase and
Sales Agreement; or
• have entered into escrow and have a copy of their escrow
instructions.
The City second mortgage plus annual interest is repaid when
the borrower:
• sells the property;
• transfers title/ownership of the property;
• takes equity out of the property; or
• no longer lives in the property.
COSTA MESA
City of Costa Mesa
Housing & Community Development/Redevelopment Agency
Ms. Muriel Ullman, Neighborhood Improvement Manager
77 Fair Drive – 5th Floor
Costa Mesa, CA 92626
714) 754-5635
(714) 754-5330 fax
www.ci.costa-mesa.ca.us
City residents may be eligible for some County programs (see County of Orange section of this guide for more information).
Rehabilitation Loan Program
This program enables homeowners to defer loans providing assistance with rehabilitation expenses. To be eligible, the owners’ income must not exceed 80% of the area median income. The maximum loan amount is $35,000; the interest rate is 0%. The loan may be deferred until the house is sold or transferred or refinanced for 0% interest loans. For more information call the Costa Mesa Housing & Community Development Hotline at (714) 754-4892.
Rehabilitation Grant Program
These grants help homeowners with house repairs. To be eligible, the owners’ income must not exceed 80% of the area median income, and the house requiring repair must be owner-occupied.
The maximum grant amount is $7,000 for single-family property and $5,000 for mobile home property. For more information, call the Costa Mesa Housing & Community Development Hotline at (714) 754-4892.
First-Time Homebuyer Program
This program provides down-payment assistance up to $40,000 for first-time homebuyers with incomes up to 120% of Orange County Area Median Income. The purchase price limit is $515,00.
For more information, call the Costa Mesa Housing & Community Development Hotline at (714) 754-4892.
CITY OF COSTA MESA
120% OF AREA MEDIAN INCOME LIMITS
HOUSEHOLD SIZE
MAXIMUM ALLOWABLE INCOME
1
$63,500
2
$72,550
3
$81,650
4
$90,700
5
$97,950
6
$105,200
Acquisition/Rehabilitation or Homeownership Programs
The City and Redevelopment Agency (RDA) have 20% set aside, plus federal HOME funds available for affordable housing development. Current priorities are for homeownership programs or multi-family acquisition/rehabilitation. Contact Muriel Ullman at (714) 754-5167 for more information.
COUNTY OF ORANGE
County of Orange, County Executive Office
Richard Mendoza, Bond Finance Administrator
10 Civic Center Plaza, 3rd Floor
Santa Ana, CA 92701-4062
(714) 834-3014
Mortgage Revenue Bonds (MRB)
Mortgage Revenue Bonds provide 30-year mortgage funds at below-market interest rates. They are issued by the Southern California Home Financing Authority (SCHFA) and are made through participating lenders. Please contact Richard Mendoza at the County Executive Office of Public Finance (714) 834-3014, or to obtain information write:
County of Orange, County Executive Office
10 Civic Center Plaza, 3rd Floor
Santa Ana, CA 92701-4062
To be eligible for the MRB program, the buyer’s income may not exceed 120% of the Orange County Area Median Income, as determined by HUD, and is adjusted in amount according to household size. The buyer must be a first-time homebuyer who has not had homeownership interest in the past three years, and intends to occupy the property as their principal residence.
Areas eligible for the Mortgage Revenue Bonds include County of Orange unincorporated areas or the following cities: Brea, Costa Mesa, Lake Forest, Orange Stanton, Tustin, Westminster, and Yorba Linda.
Mortgage Credit Certificates (MCC)
The MCC is a Federal Income Tax Credit program. An MCC provides a double bonus. It increases the loan amount one qualifies for and it increases take-home pay. The MCC entitles a homebuyer to take a federal income tax credit of 15% of the annual interest paid on the home mortgage.
Because the MCC reduces federal income taxes and increases net earnings, it is a great help in qualifying for a first home mortgage. The MCC is registered with the IRS, and it continues to decrease federal income taxes each year for as long as the buyer lives in the home.
• Household income and the purchase price must not exceed the limits shown below.
• The buyer must not have owned a principal residence in the last three years.
• The buyer must occupy the home.
• The buyer must apply for the MCC through a participating lender, and pay a non- refundable MCC application fee of $275.00 – Payable to the County of Orange.
• The buyer must purchase a single-family detached home, condominium, or townhouse within the program boundaries.
MCC Program Limits
Max. Income: Non-Targeted Targeted
1 or 2 persons: $81,205 $81,205
3 + persons: $93,386 $93,386
Max. Purchase Price
Resale: $360,585 $360,585
New: $503,367 $503,367
Areas eligible for the Mortgage Credit Certificates include County of Orange unincorporated areas
or the following cities: Aliso Viejo, Brea, Costa Mesa, Cypress, Dana Point, Huntington Beach,
Irvine, La Habra, Laguna Beach, Laguna Hills, Laguna Woods, Los Alamitos, Mission Viejo,
Orange, Stanton, Villa Park, Westminster, and Yorba Linda.
Mortgage Assistance Program (MAP)
The County’s MAP provides silent second loans to assist low-income first-time homebuyers, with
annual incomes not to exceed 80% of the Orange County Area Median Income (AMI). The loans
are designed to help pay for down payment and/or closing costs to purchase a home. The 3%
simple interest, deferred payment loan has a term of 30 or 45 years depending on the funding
source, and a maximum loan amount of $40,000. Homebuyers must occupy the property as
their primary residence. There is a 1% minimum down payment required for this program and
the total sales prices shall not exceed 85% of the Orange County median sales price for all
homes. All applicants are required to attend a homebuyer education workshop. For additional
information on MAP or to get prequalified, please contact Affordable Housing Clearinghouse
(AHC), the County’s non-profit service provider, at (949) 859-9255.
Areas eligible for the MAP include County of Orange unincorporated areas or the following cities:
Brea, Cypress, Dana Point, La Palma, Laguna Beach, Laguna Hills, Laguna Woods, Los Alamitos,
Placentia, Rancho Santa Margarita, San Clemente, Seal Beach, Stanton, Villa Park, and Yorba
Linda.
Low Interest Loans for Home Rehabilitation
Under the Neighborhood Preservation Act, low interest loans are available to qualified homeowners to make improvements and rehabilitate their homes. No cosmetic or interior items are allowed unless to correct a Health and Safety code violation.
• Roof Replacement Grant Program is available to homeowners in unincorporated target areas and participating cities. The grants can be used to replace shingle-style roof.
• Mobile Home Exterior Grant Program is available to mobile homeowners in unincorporated target areas and participating cities.
• Americans with Disabilities Act (ADA) Grants are available to homeowners in unincorporated target areas and participating cities to overcome barriers to access and create a more accessible living environment.
• A grant cannot exceed $5,000.
For more information and for specific areas and qualifications, contact Margie Anguiano at (714) 480-2807 or log on to www.ochousing.org.
ALL PROGRAMS SUBJECT TO FUNDING AVAILABILITY
CYPRESS
City of Cypress
Cypress Redevelopment Agency
Mr. Steven Clarke, Redevelopment Project Manager
5275 Orange Avenue
Cypress, CA 90630
(714) 229-6728
(714) 229-0154 fax
sclarke@ci.cypress.ca.us
www.ci.cypress.ca.us
City residents may be eligible for some County programs (see County of Orange section of this guide for more information).
Home Equity Loan Program (HELP I)
The HELP I program provides loans to first-time homebuyers to help with the down payment, including a portion of non-recurring closing costs. To be eligible, the applicants’ income must not exceed 120% of the Orange County Area Median Income. The home must be a single-family, attached or detached residence, including townhouses and condominiums, within the City of Cypress. The applicant may not have owned a home in the past three years, and must occupy the home as a principal residence. The applicant cannot have liquid assets in excess of $50,000, and must provide a minimum down payment equal to at least 2.5% of the purchase price.
The Cypress Redevelopment Agency offers up to $25,000 to eligible applicants in the form of a deferred, 30-year loan. The loan is deferred for the first five years at a 0% interest rate. At the beginning of the sixth year, the loan becomes fully amortized at 5% simple interest rate for the remaining 25 years. Immediate repayment is due upon sale, transfer of title, or certain refinances.
Cypress Redevelopment Agency
Home Equity Loan Program
5275 Orange Avenue
Cypress, CA 90630
Home Enhancement Loan Program (HELP II)
HELP II is a home improvement assistance program serving low- and moderate-income homeowners in Cypress. To be eligible, the owners’ income must not exceed 120 % of the Orange County Area Median Income. The owner may not have liquid assets in excess of $50,000 nor may the homeowner have debts that exceed 100 % of the home‘s value at the time of application. The home must be a single-family detached residence within the city limits of Cypress. The homeowner must be the legal owner, and occupy the property
as the principal residence. Eligible improvements are those that address health, safety, and general welfare, or those that promote “curb appeal” and enhance community property values.
The Cypress Redevelopment Agency offers up to $20,000 in the form of a 15-year deferred loan. Repayment is due in one lump sum upon sale of property, transfer of title, or at the end of the term (15 years), whichever comes first. Lower-income homeowners are eligible to qualify for up to $10,000 in the form of a 10-year, forgivable loan, wherein the principal is annually reduced by 10 % and totally forgiven after the tenth year.
Cypress Redevelopment Agency
Home Enhancement Loan Program
5275 Orange Avenue
Cypress, CA 90630
DANA POINT
The City of Dana Point
Dana Point City Hall
33282 Golden Lantern, Suite 203
Dana Point, CA 92629
(949) 248-3500
(949) 248-9920 fax
www.danapoint.org
Ms. Brenda Chase, Senior Planner
bchase@DanaPoint.org
(949) 248-3568
City residents may be eligible for some County programs (see County of Orange section of this guide for more information).
FOUNTAIN VALLEY
City of Fountain Valley
Housing and Community Development Department
Mr. Brent Hoff, Housing Coordinator
10200 Slater Avenue
Fountain Valley, CA 92708
(714) 593-4511
(714) 593-4525 fax
www.fountainvalley.org
Dan Baker
dan.baker@fountainvalley.org
(714) 593-4428
First-Time Homebuyer Program
The City of Fountain Valley offers loans up to $40,000 for first-time homebuyer down payment assistance. The income limit is up to 120% of the Orange County Area Median Income adjusted for household size. The loan is silent for the first ten years and payments begin in the eleventh year. There is an equity share provision; the City will share in the appreciated equity in an amount equal to the percentage of the assistance received when the home is sold or the loan is accelerated.
Home Improvement Programs
The City of Fountain Valley offers a variety of home improvement financing programs (e.g., grants, rebates and low-interest loans) designed to assist low- and moderate-income homeowners with the means to make necessary improvements to their homes. Eligible homeowners may initially utilize assistance under any two of the three primary programs (grants, rebates and low-interest loans). Repeat assistance will be allowed for rebates and loans once every seven years, however, the balance of all outstanding loans may not exceed $35,000 ($45,000 for eligible room additions). Grants are available on a one-time basis only, except for emergency grants, which may be utilized as often as needed if the homeowner has already exhausted all other forms of eligible assistance.
Lead Based Paint
In addition to the assistance listed in this brochure, the City of Fountain Valley is offering lead based paint testing to all grant and rebate recipients. The grant provides funds for the testing of lead based paint for all single-family and mobile homes that participate in the City’s rehabilitation program. This testing is a mandatory requirement issued by the U. S. Department of Housing and Urban Development (HUD).
FULLERTON
City of Fullerton
Development Services Department
303 West Commonwealth
Fullerton, CA 92832
(714) 738-6874
(714) 738-3110 fax
www.ci.fullerton.ca.us
Sylvia Chavez
(714) 738-6874
sylviac@ci.fullerton.ca.us
Home Improvement Program
Loans are available to homeowners for home improvement and
rehabilitation expenses. To be eligible for a loan, the owners’ income may not exceed 80% of the Orange County Area Median Income. The maximum loan amount is $35,000. The interest rate on loans is a fixed rate not to exceed 6%, repaid in small monthly installments. Loans may be deferred for 15 years or until property is sold or transferred, in which case the interest rate on the loan is 0%. The maximum term length is 15 years.
Forgivable loans are available for owners whose income does not exceed 50% of the Orange County Area Median Income. Forgivable loans are forgivable over a three-year period and vary depending on the type of work needed.
GARDEN GROVE
City of Garden Grove
Community Development Department
Neighborhood Improvement Division
11222 Acacia Parkway
Garden Grove, CA 92840
(714) 741-5140
www.ci.garden-grove.ca.us
Home Improvement Loans
• Up to $10,000
• Low interest
• Must be low– to moderate-income
• Must be owner-occupied
Contact person for the program listed above is Alison Moore, Project Manager (714) 741-5130.
Senior Home Improvement Grants – Up to $3,500
• Must be age 62 or over
• Must be low-income
• Must be owner-occupied single-family homes
• Must live in Garden Grove
Mobile Home Grants – Up to $3,000
• Must be located at Bahia Village or Emerald Isle Mobile Home
Park
• Must be low- to moderate-income
• Must be owner-occupied
Coming Home to Garden Grove – (First-Time Homebuyer
Deferred Loans)
• Up to $10,000
• Must be low-to moderate-income
• No ownership interest in a principal residence in the past three
years
• Down payment requirement – 3% of total
purchase price
• Loan term – 30 years
• Loan payments deferred for the first five (5) years. Payments
begin in year 6 through year 30.
• Low Interest Rate – 5% simple interest per
annum
Events of acceleration include: sale, or transfer of property, refinancing, loan maturity, or
when property ceases to be owner-occupied.
American Dream Down Payment Initiative Program – (First- Time Homebuyer Loans)
• Up to $10,000
• Must be low-income
• Down payment requirement – 3% of total
purchase price
• No ownership interest in a principal residence in the past 3
years.
Events of acceleration include: sale, or transfer of property, refinancing, loan maturity, or
When property ceases to be owner-occupied.
Contact person for the four programs listed above is Sandra Amici, Neighborhood Improvement
Specialist (714) 741-5330.
HUNTINGTON BEACH
City of Huntington Beach
Economic Development Department
2000 Main St., 5th Floor
Huntington Beach, CA 92648
(714) 536-5582
www.hbbiz.com
City residents may be eligible for some County programs (see County of Orange section for more information).
Housing Rehabilitation Loan Program
The City of Huntington Beach offers housing rehabilitation loans to low-and moderate-income residents to help maintain the quality and safety of their housing. Funds can be used to correct code problems and for general property improvements.
Owners of single-family homes can borrow up to $25,000 at interest rates as low as 3% below the current market rate rounded down to the nearest half-point. For example, if the current interest rate were 8.35%, the city’s lowest loan rate would be 5%. Owners of mobile homes, condominiums, or town homes can borrow up to $15,000. On loans to low-income homeowners, payment can be deferred until the home is sold or transferred. Moderate-income borrowers are required to make monthly payments. To address specific health and safety-related emergency household repairs, low-income homeowners may be able to receive a one-time grant up to $500.
Owners of apartment buildings may be able to borrow up to $15,000 per unit to correct code deficiencies, repair damage, and make improvements to either the building or grounds. The residents must be low-income and the amount charged for rent must fall within certain affordability guidelines.
For more information about the Housing Rehabilitation Loan Program, call the Economic Development Department at (714) 536-5582.
Inclusionary Housing Program
The City of Huntington Beach has an inventory of approximately 330 homes that were built and sold at below market prices to low-, median- and moderate-income households. These homes have covenants recorded on title ensuring that affordability restrictions will remain in effect for a period of up to 60 years. Although there are no new homes currently available for sale under this program, from time to time, existing homes are resold. The following communities in Huntington Beach were developed under the Inclusionary Housing Program: Cape Ann (146 homes), Promenade (80 homes), Greystone Keys (23 homes), Pacific Landing (5 homes), Pacific Park Villas (25 homes), Brisas Del Mar (44 homes), the Tides (12 homes), and Ash Street Condos (6 homes).
When any of the above homes are sold, the City establishes the maximum sales price and requires that the home be sold to a qualified buyer. The maximum sales price is calculated at a level considered affordable to a low-, median-, or moderate-income level household.
IRVINE
Community Development Department
Ms. Tina Christiansen, Director of Community Development
Community Development Department
One Civic Center Plaza
PO Box 19575
Irvine, CA 92623-9575
(949) 724-6300
(949) 724-6440 fax
www.ci.irvine.ca.us/depts/cd/planningactivities/affordablehse/first_time_homebuyers.asp
Amy Urcis, Associate Planner
aurcis@ci.irvine.ca.us
(949) 724-6546
First-Time Homebuyer Program
Program is closed indefinitely. The City received close to 400 applications in February 2004. The City is assisting as many of those applicants as possible. The City provides up to 25% of the purchase price to be used as down payment assistance. Maximum home purchase price is $440,800. The down payment assistance is a deferred loan (second mortgage) for 30 years at 3% simple interest. No monthly payments are due on the deferred loan until the home is sold, transferred, refinanced, rented out, or when the first mortgage is paid. Participants may repay the deferred loan at any time together with any accrued interest due.
Applicants must have sufficient assets to provide a minimum down payment equal to 1% of the purchase price of the home. City assistance may not be used for mortgage rate buy downs or reductions. Eligible properties include new construction or existing single-family homes and condominiums located in Irvine. Purchased homes must be the buyer's primary residence. The property must meet local code, termite clearance, lead-based paint, and third party inspection is required. Eligible households must have an annual income no greater than the HUD-published income limits for lower-income households based on family size. Applicants must complete a minimum of eight (8) hours of education in a City approved first-time homebuyer training workshop or seminar. Additional program conditions apply. Applicant approval is subject to compliance with all program conditions and requirements. Program funding is limited and subject to availability.
City residents may be eligible for some County programs (see County of Orange section of this guide for more information).
City of Irvine
80% of Median Income
HOUSEHOLD SIZE
MAXIMUM ALLOWABLE INCOME
1
$43,000
2
$49,150
3
$55,300
4
$61,450
5
$66,350
6
$71,250
7
$76,200
8
$81,100
Lease Purchase Program
The Orange County Area Housing & Finance Authority (OCHFA) is a Joint Powers Authority (JPA) created to assist moderate-income individuals and families achieve homeownership through a Lease-Purchase Home Ownership Program. OCHFA is a non-profit governmental agency serving cities in Orange County. This program is only available in member cities, which currently are Irvine, Buena Park, Placentia and Newport Beach. Through its Lease-Purchase program, OCHFA offers the following benefits to moderate-income homebuyers:
• No down payment or closing costs required
• Affordable monthly payments
• Credit flexibility
• Lease or purchase option for up to six years
• Buyer can assume the existing mortgage or a new loan when the purchase option is exercised
To find out more information about this program, please call
310-277-0636 or go to http://www.orangecountyhfa.org.
Inclusionary Housing Program
The City of Irvine, through its Inclusionary Ordinance, ensures that housing is built for low
income households. Many of the units created are affordable ownership units for first-time
homebuyers. There are restrictions on these units to ensure the affordability for at least 30
years, and in some cases much longer. The maximum purchase price is affordable to low
income persons, and down payment assistance is often included. To find out more about
affordable units and to get on an interest lists for specific developments, please go to
www.ci.irvine.ca.us/depts/cd/planningactivities/affordablehse/projects.asp.
LA HABRA
City of La Habra
Department of Planning
201 East La Habra Blvd.
La Habra, CA 90631
(562) 905-9724
Neighborhood Housing Services Of Orange County
198 West Lincoln Ave.
Second Floor
Anaheim, CA 92805
(714) 490-1250
(714) 490-1262 fax
www.nhsoc.org
The affordable housing programs in La Habra are administered by the Neighborhood Housing Services of Orange County. Contact Avelina Rosholt or Letty Plascencia (714) 490-1250 with questions or for information.
City residents may be eligible for some County programs (see County of Orange section of this guide for more information).
OC Housing Trust – Second Mortgage Program
100% financing for first-time homebuyers for homes priced up to $359,650.00 with no down payment. Buyer pays closing cost only.
To be eligible, the maximum household income may not exceed 140% of the Orange County Area Median Income. In addition, the buyer must provide a minimum of 3% of the closing costs. Furthermore, the buyer must not have owned a residential property in the past three years. The buyer must occupy the property as a principal residence, and must attend an 8 hour first-time homebuyer seminar offered by NHS. The property may be located anywhere in Orange County.
The maximum loan amount is the $89.912.50 - 25% of the purchase price. The buyer must contribute 3% of the purchase price into the transaction to be used towards closing costs. Interest rate is fixed at 5% for 30 years. The first mortgage loans, fixed conventional loans for 30 years, are made through participating lenders at market rate.
IDEA Savings Program
Individual Development Empowerment Accounts (IDEA) are savings accounts available to individuals for a specific purpose to encourage savings and investing. The savings account helps people in low-income households save money for purchasing their first home, by matching their funds with contributions. IDEA give people the opportunity to build and accumulate assets, allowing them to become greater participants in economic and community life. This is a 10-month savings program. Participants must attend a one-hour Financial Literacy class once a month and open a savings account and make a monthly deposit of at least $25. At the end of the 10-month period participants receive a three to
one match for every dollar they save, up to a maximum grant of $15,000. After the 10-month savings period participants have 8 months to find a property and close escrow or they lose the match but keep their savings. Borrowers must live in the property for a 5-year period after which the grant is forgiven. Every year 20% ($3,000) is forgiven. If the borrower chooses to move he/she must repay the balance owed at the time of sale.
Cal Home Loan
Third Mortgage Loan for $60,000.00 at 3% deferred for 30 years. Must be at 80% of the Orange County Area Median Income limit, must be owner-occupied, and the property must be in Orange County.
Home Improvement Loans
Available in the City of Santa Ana and La Habra Only. Interest rates are 3% to 9% depending on the family’s ability to pay back. Must be owner occupied, 80% of the Orange County Area Median Income limits. Loan can be deferred if the family meets the criteria.
LA PALMA
City of La Palma
Community Development Department
Mr. Dominic Lazzaretto, Director
7822 Walker St.
La Palma, CA 90623
(714) 690-3340
(714) 523-2141 fax
www.cityoflapalma.org
Dominic Lazzaretto
dominicl@cityoflapalma.org
(714) 690-3322
As of April 2005, the City of La Palma is not offering homeownership programs.
LAGUNA BEACH
City of Laguna Beach 505 Forest Avenue Laguna Beach, California 92651 (949) 497-3311 (949) 497-0771 fax
www.lagunabeachcity.net
Laguna Beach does not currently provide affordable housing programs. However, programs to help seniors meet housing-related payment are organized by various nonprofit organizations in Laguna Beach. For more information contact the Community Services Department at (949) 497-0352.
City residents may be eligible for some County programs (see County of Orange section of this guide for more information).
LAGUNA HILLS
City of Laguna Hills
Mr. Vern Jones ,Director
Community Development
24035 El Toro Road
Laguna Hills, CA 92653
(949) 707-2670
(949) 707-2633 fax
www.ci.laguna-hills.ca.us
As of May 2005, the City of Laguna Hills is not offering homeownership programs.
City residents may be eligible for some County programs (see County of Orange section of this guide for more information).
LAGUNA NIGUEL
City of Laguna Niguel
Community Development Department
Mr. Robert P. Lenard, Director
27781 La Paz Road, Laguna Niguel, CA 92677
(949) 362-4313
(949) 362-4369 fax
www.ci.laguna-niguel.ca.us
Stephen Higa, Senior Planner
shiga@ci.laguna-niguel.ca.us
(949) 362-4321
As of April 2005, the City of Laguna Niguel is not offering homebuyer/homeownership programs.
LAGUNA WOODS
City of Laguna Woods
Community Development Department
Ms. Lauren Barr, Director
24264 El Toro Road
Laguna Woods, CA 92613
(949) 639-0500
(949) 639-0591 fax
http://www.lagunawoodscity.org
Patrick Foley, Community Services Manager
pfoley@lagunawoodscity.org
Energy Efficiency Improvements
The funding will assist in retrofitting extremely low- and low-income homes to improve energy efficiency through the addition of insulation, dual pane windows, ceiling fans, heat pumps and other similar energy efficient improvements. Residents of Laguna Woods who are 60 years or older and who meet U.S. Department of Housing and Urban Development (HUD) income guidelines for Extremely Low- and Low-Income are eligible to apply for funding.
With the average grant of $2,500, the city will be able to fund approximately 50 energy efficient rehab projects in FY05-06. Due to the large volume of preliminary applications received in April 2005, no new applications are being accepted for this program.
City residents may be eligible for some County programs (see County of Orange section of this guide for more information).
LAKE FOREST
City of Lake Forest
Development Services Department
Ms. Gayle Ackerman, Director
23161 Lake Center Drive, Suite 100
Lake Forest, CA 92630
(949) 461-3460
(949) 461-3511 fax
www.ci.lake-forest.ca.us
Mortgage Credit Certificates
Contact Elaine Nagano, Neighborhood Services Manager, at (949) 461-3471, or enagano@ci.lake-forest.ca.us, for information regarding the MCC program.
Home Improvement/Rehabilitation Loan Program
Deferred and low interest loans are available to owner-occupants for home improvements and repairs. To be eligible, maximum owner income may not exceed 80% of the Orange County Area Median Income. The owner must occupy the property as a principal residence. The repairs must be intended to restore the structural integrity of the building. Beautification repairs do not qualify for this program.
The maximum loan amount is $7,500 for mobile homes and $15,000 for free-standing houses. If the owner’s income is below 50% of the Orange County Area Median Income, loans may be deferred, with no interest rate. The principal is then due when the property is transferred. If the owner’s income is greater than 50% of the Orange County Area Median Income, and less than 80%, the loan is amortized over 15 years at 3% interest rate.
CITY OF LAKE FOREST
INCOME LIMITS
HOUSEHOLD SIZE
LOW INCOME
50% OF AMI
MODERATE INCOME
80% OF AMI
1
$26,900
$43,000
2
$30,700
$49,150
3
$34,550
$550300
4
$38,400
$61,450
5
$41,450
$66,350
6
$44,550
$71,250
7
$47,600
$76,200
8
$50,700
$81,100
LOS ALAMITOS
City of Los Alamitos Community Development Department
Mr. John Godlewski, Director
3191 Katella Avenue, Los Alamitos, CA 90720
(562) 431-3538
(562) 493-1255
www.ci.los-alamitos.ca.us
As of May 2004, the City of Los Alamitos is not offering homeownership programs .
City residents may be eligible for some County programs (see County of Orange section of this guide for more information).
MISSION VIEJO
City of Mission Viejo
Community Development
Ms. Elaine Lister, Planning Manager
200 Civic Center
Mission Viejo, CA 92691
(949) 470-3029
(949) 470-3029 fax
www.ci.mission-viejo.ca.us
City residents may be eligible for some County programs (see County of Orange section of this guide for more information).
Single-Family Rehabilitation Low Interest and Deferred Payment Loans
This program offers deferred loans for housing rehabilitation to improve the quality of life for low-income residents. To be eligible, the property must be owner-occupied and within the City of Mission Viejo. In addition, the owner’s income may not exceed 80% of the Orange County Area Median Income, as determined by HUD.
Eligible improvements include those that rectify a safety hazard, heating, cooling, plumbing, septic, re-roofing and electrical repairs, repairs that restore the structural integrity of the building or fortify the foundation, and beautification repairs that improve the quality of the neighborhood, such as exterior painting. Repairs that are not eligible include cosmetic improvements such as new curtains, furniture, wallpaper, carpeting, and detailed paint-work, and the addition of leisure equipment such as a swimming pool or a patio.
Deferred Payment Loans are available to eligible property owners in amounts up to $20,000. Grants are available to eligible property owners in emergency situations, in amounts up to $10,000. In no event shall the combination of loan and grant exceed $25,000.
CITY OF MISSION VIEJO
80% OF MEDIAN INCOME LIMITS
HOUSEHOLD SIZE
MAXIMUM GROSS
INCOME
1
$43,000
2
$49,150
3
$55,300
4
$61,450
5
$66,350
6
$71,250
7
$76,200
8
$81,100
NEWPORT BEACH
The City of Newport Beach
3300 Newport Boulevard
P.O. Box 1768
Newport Beach, CA 92663
(949) 644-3200
(949) 644-3229 fax
www.city.newport-beach.ca.us
Contact:
Jaime Murillo, Assistant Planner
(949) 644-3209
jmurillo@city.newport-beach.ca.us
Lease Purchase Program
The City of Newport Beach is a member of the Orange County Area Housing & Finance Authority (OCHFA), a Joint Powers Authority (JPA) created to assist moderate-income individuals and families achieve homeownership through the Lease Purchase Home Ownership Program. The Lease Purchase program allows qualified home buyers to buy a home with little up front cash, lock in the purchase
price of a home, and use the lease-option period to build a positive credit reputation. When buyers exercise their purchase option, they have access to the equity that may have accrued during the lease-option period.
Program Highlights:
• Approved buyers select a home of their choice within their price
range and program limits.
• The home is purchased by OCHFA on the homebuyer’s be-
half using a mortgage that finances 100% of the purchase
price.
• OCHFA pays all closing costs.
• The initial term of the mortgage (12-72 months) is the lease-
option period.
• Buyers can use the lease-option period to repair past credit
problems.
• Buyers can exercise their purchase option by assuming the
existing mortgage or by obtaining new financing with no
additional down payment or closing costs.
More information on the Lease Purchase Program can be found at www.OrangeCountyHFA.org or by calling (877) 873-1988.
ORANGE
City of Orange
Economic Development Department
230 East Chapman Avenue
Orange, CA 92866
(714) 288-2580
(714) 288-2598 fax
www.cityoforange.org
City residents may be eligible for some County programs (see County of Orange section of this guide for more information).
Home Improvement Loan Program
This program provides loans for home improvements and rehabilitation of owner-occupied single-family homes. To be eligible, the household’s gross income cannot exceed 80% of the Orange County Area Median Income. The maximum loan amount is $35,000 and the interest rate is 0%. Loans are due upon the sale, transfer, or refinancing of the property.
Home Improvement Grant Program
This program provides grants for minor improvements to owner-occupied single-family homes and mobile homes. To be eligible, the household’s gross income cannot exceed 50% of the Orange County Area Median Income. The maximum grant amount is $5,000.
First-Time Homebuyer Program
This program provides down payment assistance loans for low- and moderate-income first-time homebuyers. To be eligible, the household’s gross income cannot exceed 120% of the Orange County Area Median Income. Applicants must have a good credit history, cannot have owned a home in the past five years, and must be approved for the program prior to entering into escrow. The loan limits and guidelines are currently under review.
PLACENTIA
City of Placentia
Development Services Department
Mr. Raynald F. Pascua, Director
401 E. Chapman Avenue
Placentia, CA 92870
(714) 993-8124
(714) 991-0283 fax
www.placentia.org
Leigh M. De Santis, Economic Development Manager
ldesantis@placentia.org
(714) 993-8173
PROGRAM CRITERIA
Maximum Household
Income
140% of Orange County Area Median Income adjusted for household size
Maximum House Price
$475,000
Maximum Assistance
Amount of mortgage loan you can afford plus
closing costs - 100% loan.
Minimum Participant Cash
2.25% of purchase price
program fee may be paid by anyone plus credit check fee ($25) and
appraisal ($750).
ORANGE COUNTY AREA HOUSING & FINANCE AUTHORITY (Lease Purchase)
This program is open to any income-qualified buyer. The home must be your principle residence. Use the real estate broker of your choice, find the home you want to purchase and finance through this program. The Program is especially designed for those with no down payment and/or weak credit. The home is purchased on your behalf with a 30-year loan. You pay monthly Principal Interest Taxes and Insurance (PITI) under a lease to purchase contract for one to six years. Any time after the first year you may assume the existing loan or refinance and be sole owner. If the borrower assumes the loan at the end of year two, the borrower will have a 28-year loan, as all lease payments went to mortgage.
Matt Callahan, Lease Purchase Solutions
Phone: (877) 570-5276
Website: www.OrangeCountyHFA.org
HOUSING REHABILITATION GRANTS
Susan Mendoza
(714) 993-8124
Program Description: Grants of up to $7,500 for exterior rehabilitation of owner-occupied housing in Placentia. Pays for both materials and labor.
Maximum Household Income: 50% of Orange County Area Median Income adjusted for household size:
CITY OF PLACENTIA
INCOME LIMITS
HOUSEHOLD
SIZE
HOUSING
REHAB
50% OF
AMI
MAP
80% OF AMI
LEASE
PURCHASE
140% OF AMI
1
$26,900
$43,000
$74,200
2
$30,700
$49,150
$84,770
3
$34,550
$55,300
$95,410
4
$38,400
$61,450
$105,980
5
$41,450
$66,350
$114,450
6
$44,550
$71,250
$122,920
7
$47,600
$76,200
$131,390
8
$50,700
$81,100
$139,860
RANCHO SANTA MARGARITA
City of Rancho Santa Margarita
Planning Department
Ms. Kathleen Haton, Director
22112 El Paseo
Rancho Santa Margarita, CA 92688
(949) 635-1800
(949) 635-1840 fax
www.cityofrsm.org
Nate Farnsworth, Analyst
nfarnsworth@cityofrsm.org
(949) 635-1800 ext. 704
Mortgage Assistance Program
The City of Rancho Santa Margarita has recently partnered with the County of Orange Housing & Community Services Department and announced the availability of funds through the Mortgage Assistance Program (MAP). MAP provides silent second loans for down payment and closing costs for first time homebuyers desiring to purchase a home in the City of Rancho Santa Margarita. The funds are subject to funding availability and on a first come first serve basis.
SAN CLEMENTE
City of San Clemente
Ms. Leslie Davis, Housing Coordinator
910 Calle Negocio, Suite 100
San Clemente, CA 92673
(949) 361-6188
(949) 366-4750 fax
Email: davisl@san-clemente.org
www.ci.san-clemente.ca.us
Denise Obrero, CDBG Grant Administrator
(949) 366-4755
Single-Family Home Rehab Loan Program
Funded by Federal Community Development Block Grant (CDBG) funds, this program makes 0% deferred loans and 3% loans of an average of $25,000 to homeowners with income under 80% of the Orange County Area Median Income. To be eligible, the property must be owner-occupied, and the owner must have sufficient equity to cover the amount of the loan. Loan payments may be deferred for some families, depending on need.
SAN JUAN CAPISTRANO
City of San Juan Capistrano Planning Services Department Ms. Molly Bogh, Planning Director 32400 Paseo Adelanto
San Juan Capistrano, CA 92675 (949) 443-6331 (949) 661-5451 fax
www.sanjuancapistrano.org
Lynnette Adolphson, Management Analyst II ladolphson@sanjuancapistrano.org (949) 443-6324
Owner-Occupied Housing Rehabilitation Program
The City provides 0% interest 30-year loans of up to $30,000 for single-family homes and $20,000 for mobile homes to low-income homeowners for health and safety repairs to their homes. Additional funds will be available in June/July, 2005, and names are being added to a waiting list. It may take 1-2 years before those currently at the end of the waiting list receive assistance.
First-Time Homebuyer Program The City provides low interest 30-year loans of up to $100,000 to low-income households to assist in purchasing their first home. The City currently has no funds. However, names are being added to a waiting list. Funds for approximately two-or-three loans will become available by about June/July, 2005.
SANTA ANA
The City of Santa Ana
Community Development Agency
Housing and Neighborhood Development Division
20 Civic Center Plaza, M-37
Santa Ana, CA 92702
(714) 667-2250
www.ci.santa-ana.ca.us
Mortgage Credit Certificates
This is a federal program that offers tax credits for mortgage payments to low- and moderate-income first time homebuyers. These tax credits make it easier to qualify for a mortgage loan large enough to purchase a home. Qualified persons interested in buying a home in Santa Ana may be eligible to receive a Certificate.
Single-Family Rehabilitation Loan Program
The maximum loan amount is $75,000. Interest rates are below market, and are set at the time the loan is approved. They are based on household income and the 11th District Cost of Funds index. These loans are amortized over a period of 20 to 30 years depending on the borrower’s ability to pay. In addition, borrowers may be eligible for a forgivable loan for hazardous substances costs. Under this loan, all costs attributable to remediation of hazardous substances such as lead-based paint in excess of $2,500 may be forgiven at the time all required work is complete.
In order to be eligible for these loans, borrowers must be the owners of a single-family home in the City of Santa Ana, and it must be their principal residence. They must have acceptable credit, and carry homeowner insurance and flood insurance, if necessary. Total debt on the property, including the rehabilitation loan, cannot exceed 90% of its after-rehabilitation value. Total annual income of the household, meaning all persons using the home as their primary residence, cannot exceed 120% of the Orange County Area Median Income as determined by the U.S. Department of Housing and Urban Development (HUD).
Owners of single-family homes listed on the City’s Register of Historical Properties may be eligible for the Historic Properties Restoration Loan Program. These loans are similar to the City’s Rehabilitation Loans, but the maximum interest rate is 1%, and they are amortized over 45 years.
Mobile Home Hardship Loans
This program offers loans to very low-income elderly or disabled mobile homeowners to make necessary repairs to their homes. To be eligible, the owner’s income may not exceed 50% of the Orange County Area Median Income as determined by HUD, and the owner’s home must be located within a mobile home park in the City of Santa Ana. In addition, the owner must be at least 62 years old or have a long-term physical or mental disability.
The maximum loan amount is $5,000, and it is forgiven over five years if the owner continues to live in the mobile home.
Federal Empowerment Zone Mobile Home Loans
This program offers loans to very low-income mobile homeowners living in the City’s Federal Empowerment Zone. Loan funds are used to make necessary repairs to the owner’s home. Homeowners need not be 62 years of age or have a disability to qualify. To be eligible, the owner’s income may not exceed 50% of the Orange County Area Median Income as determined by HUD. The owner’s home must be located in a mobile home park within the City’s Federal Empowerment Zone.
The maximum loan amount is $7,500, and it is forgiven over five years if the owner continues to live in the mobile home.
Residential Rebate Program
This program offers rebates of up to $5,000 to single family homeowners to assist them with the cost of certain necessary repairs to their homes. To be eligible the owner’s income may not exceed 120% of the Orange County Area Median Income as determined by HUD. The home must be the owner’s primary place of residence. Owners must complete an application, and the Agency must inspect the property to determine the eligibility of the work items for which the owner wishes to receive a rebate. No work can begin before the Agency approves the work items. The Agency will send a check to the owner after the work has been completed and approved. Owners must submit original receipts to receive the rebate.
CalHome Program Mobile Home Loans
These loans are funded through a grant provided to the City of Santa Ana through the State of California CalHome Rehabilitation Program. Loan funds are used to make necessary repairs to the owner’s home. To be eligible the owner’s income may not exceed 80% of the Orange County Area Median Income as determined by HUD. The owner’s home must be located in a mobile park in a CDBG eligible census tract within the City of Santa Ana.
The maximum loan amount is $10,000. These loans are not forgiven, but carry no interest rate and are amortized over 30 years.
For more information on any of these programs, please call the City of Santa Ana at (714) 667-2250.
SEAL BEACH
City of Seal Beach
Development Services
Lee Whittenberg, Director
211 8th Street, 2nd Floor
Seal Beach, CA 90740
(562) 431-2527
(562) 431-4067 fax
www.ci.seal-beach.ca.us
Christy Teague, Senior Planner
cteague@ci.seal-beach.ca.us
(562) 431-2527, Ext. 316
The City of Seal Beach may have funds for first-time homebuyers. Please contact the City to determine if funds are available and eligibility criteria.
STANTON
City of Stanton
Department of Community Development
7800 Katella Ave.
Stanton, CA 90680-3162
(714) 379-9222
www.ci.stanton.ca.us
City residents may be eligible for some County programs (see County of Orange section of this guide for more information).
TUSTIN
City of Tustin
Tustin Community Redevelopment Agency
Jim Draughon
300 Centennial Way
Tustin, CA 92780
714) 573-3117
(714) 573-3113 fax
www.tustinca.org
City residents may be eligible for some County programs (see County of Orange section of this guide for more information).
Residential Rehabilitation Program
The Tustin Community Redevelopment Agency is responsible for the administration of the City's Housing Rehabilitation Program. The Housing Rehabilitation Program is meant to provide financial incentives to property owners in concentrated target areas of the City in order to stimulate rehabilitation of residential properties. Following is a description of the residential rehabilitation program.
• Rental Grant and Loan Programs
• Single Family Grant and Loan Programs
ELIGIBLE PROPERTY OWNERS:
• Low-and moderate-income homeowners
• Multi-family property owners with low-to moderate-income
tenants.
TARGET AREA:
Southwest area of the City; South of Interstate 5 and East of SR-55 Freeway
CITY OF TUSTIN
ANNUAL INCOME LIMITS
HOUSEHOLD SIZE
IMAXIMUM ALLOWABLE
INCOME
1
$57,360
2
$ 65,580
3
$ 73,740
4
$ 81,960
5
$ 88,500
6
$ 95,100
7
$101,640
8
$108,180
ELIGIBLE IMPROVEMENTS
A variety of exterior (and in some cases, interior) improvements, including, but not limited to: painting, stucco repairs or re-stuccoing of building exteriors, existing fence and wall replacement or repair, stairway, roof, and driveway repairs or replacement and general yard cleanup and landscaping.
AVAILABLE FUNDING
• Single Family Grant: $3,000, plus $1,500 for painting, and up
to $1,000 for security lighting
• Single Family Loan: Up to $10,000 per property (available to
lower income applicants only)
• Rental Property Grant: $3,000, plus up to $3,000 for painting,
and up to $1,000 for security lighting
• Rental Property Loan: $3,000 per unit up to $25,000 per
property
REPAYMENT REQUIREMENTS
• Grant Programs: None
• Loan Programs: No payments; one time 7% simple interest
payment; Repaid when ownership changes
If interested in participating, please contact The Tustin Community Redevelopment Agency at
(714) 573-3117.
VILLA PARK
City of Villa Park
17855 Santiago Boulevard
Villa Park, CA 92861
(714) 998-1500
www.villapark.org
As of May 2004, the City of Villa Park is not offering homeownership programs.
City residents may be eligible for some County programs (see County of Orange section of this guide for more information).
WESTMINSTER
The City of Westminster
Community Development Agency – Grants & Housing
8200 Westminster Blvd.
Westminster, CA 92683
(714) 898-3311, Ext. 6101
www.ci.westminster.ca.us
Jennifer Roethlisberger, Housing Specialist
jenniferr@ci.westminster.ca.us
City residents may be eligible for some County programs (see County of Orange section of this guide for more information).
Down Payment/Closing Cost Assistance
This program is designed to assist with down payment or closing costs for first-time homebuyers. To be eligible, the buyer’s income may not exceed 80% of the Orange County Area Median Income. The buyer must also contribute 5% of the purchase price.
The maximum loan amount is $40,000 at an interest rate of 0%. Payments are deferred for 10 years. In the eleventh year, payments are made until the loan is paid off. The purchase
price cannot exceed $416,100 for a single-family home. (Thus far, this program has not provided loans due to the increase in the price of homes in Westminster and throughout the county.)
Housing Rehabilitation Program
This program provides loans and grants to owners of single-family homes for rehabilitation costs. To be eligible, the owner’s income may not exceed 80% of the Orange County Area Median Income. The owner must also have sufficient equity (at least 30% or more) to cover the amount of the loan. In addition, the owner must occupy the property as a principal residence.
The maximum loan amount is $35,000 at 0% interest rate if the owner’s income is below 60% of the Orange County Area Median Income, and 3% simple interest rate if the owner’s income is between 68-80% of the Orange County Area Median Income. There are no monthly payments due on these loans but will be paid off in full if the house is sold or changes title.
Mobile Home Grants
Grants of $5,000 are awarded to mobile homeowners whose income does not exceed 80% of the Orange County Area Median Income. Grants will be forgiven if the homeowner agrees to live in the coach for one year and does not sell the mobile home, lease or otherwise change title for one year after the completion of home repairs.
YORBA LINDA
City of Yorba Linda
Mr. David A. Gruchow, Assistant City Manager
Redevelopment Agency & Economic Development Department
P.O. Box 87014
Yorba Linda, CA 92885-8714
(714) 961-7105
(714) 961-7148 fax
www.ci.yorbalinda.ca.us
Pamela Stoker, Housing and Redevelopment Specialist
pstoker@yorba-linda.org
City residents may be eligible for some County programs (see County of Orange section of this guide for more information).
Mortgage Assistance Program (MAP)
This program is designed to help low- and moderate-income, first-time homebuyers purchase a home by providing a “silent second” mortgage loan. Properties that are eligible for this program include any single-family detached home, attached or detached townhouse, or condominium unit within the City of Yorba Linda.
To be eligible, the buyer’s income cannot exceed 120% of the Orange County Area Median Income, adjusted for family size. The buyer must not have owned a home in the past three years, unless the buyer is a displaced homemaker, a single parent with joint or full custody of minors, or has been displaced by a redevelopment project and has not yet been relocated. The buyer must also occupy the property as a principal residence, and must make a minimum contribution of 5%. Furthermore, the buyer may not have liquid assets that exceed the buyer’s portion of the down payment, closing costs, six-month reserves for mortgage payments, plus $5,000 in emergency funds.
The maximum loan amount is the lesser of $25,000 or 10% of the purchase price. A participating lender must make the issuance of a first-mortgage home loan, and the buyers must put down at least 5% of their own funds. The MAP is a second mortgage on the home. The buyer thus borrows the MAP amount from the agency in addition to the first-mortgage loan amount. If the buyer owns and lives in the home for at least 15 years, the MAP loan will be forgiven, and no payments will be required. If the owner sells, or transfers the property during the first 15 years, 100% of the MAP loan must be repaid, plus an equity shared percentage based on a sliding scale.
Neighborhood Rehabilitation Program
This program uses Community Development Block Grant (CDBG) funds to provide assistance to low- and moderate-income residents at 80% of the Orange County Area Median Income, with various interior and exterior repairs and improvements to their homes. The program funds provide assistance to those residents that are elderly, disabled, or receive a code violation, and meet the income qualifications. The improvements include such items as exterior paint, overgrown vegetation, plumbing, roofing, utilities, flooring, windows, fences, and other general clean up and home repair projects.
Staff contact: Mary Lewis (714) 961-7148
ADDITIONAL HOMEBUYER RESOURCES
ACORN Housing
Santa Ana AHC
204 E 4th ST suite J
Santa Ana, CA 92701
Phone: (714) 550-6071 Fax (714) 550-9251
www.acornhousing.org
Affordable Housing Applications, Inc.
4579 Maple Ave. #1
La Mesa, CA 91941
Phone: 800-591-3111 or 858.292.3300
http://www.ahahousing.com
Affordable Housing Clearing