The Los Angeles LIPA program is back by Camino Real Mortgage Bankers


Posted on January 13, 2015 at 10:45 AM



The Los Angeles Housing and Community Investment Department (HCIDLA) announced that it has received a new allocation of $2.2 million of HOME Program funds and $780,000 of CalHome Program funds available for the Low Income Purchase Assistance Program (LIPA)

The LIPA program provides eligible, low income first-time homebuyers a subordinate deferred loan for down payment, closing costs, and acquisition to purchase an eligible home in the City of Los Angeles.

The LIPA program provides eligible, low income first-time homebuyers a subordinate deferred loan for down payment, closing costs, and acquisition to purchase an eligible home in the City of Los Angeles.

Call

(818) 365-8768

Before funds run out!!!


Income Limits


MAXIMUM VALUE / PURCHASE PRICE LIMIT:

  • Single Family Residences: $456,000
  • Condominiums $380,000

HCIDLA LOAN TERMS

  • Deferred, requiring no monthly payments.
  • Shared Appreciation applies to the HCIDLA purchase assistance loan.
  • Loan is due on sale, title transfer, first mortgage repayment, or in 30 years.

Facebook

Camino Real Mortgage Bankers Twitter