HOMEBUYER and REFINANCE PREFERRED LENDERs

Programs available for first-time homebuyers:

1. City of Los Angeles $90,000 LIPA Program - LIPA funds can be used for both down payment and closing costs. Max purchase price of $973,750 on a SFR and $593,750 on Condos.
2. City of Los Angeles $75,000 MIPA Program - MIPA funds can be used for both down payment and closing costs. No Purchase Price Limit. Moderate income limits.
3. County of Los Angeles $85,000 HOP Program - HOP funds can be used for both down payment and closing costs. Max purchase price of $585,000 on a SFR and Condos (Available in July)
4. GSFA Grant/Loan Programs - Can be used throughout the State of California - with a 3% to 7% grant/loan that can be combined with a Conventional, FHA and VA Loan.
5. CALHFA Programs - Available throughout the State of California - Can be used with both Conventional, FHA Loans and VA Loans. Assistance can be used for down payment and closing costs.
6. CALHFA’s New Equity Builder Loan Program - Gives up to 10% for down payment and closing costs and forgivable after 5 years of living in the home.

America’s Home Grant®

Our America’s Home Grant® program offers a lender credit of up to $7,500 that can be used towards nonrecurring closing costs, like title insurance and recording fees, or to permanently buy down the interest rate. The funds do not require repayment.

Our Down Payment Grant program offers a grant of up to 3% of the home purchase price, up to $10,000, to be used for a down payment in select markets. Grant Program is available with one mortgage product.

Contact Nelson Mendez for more information. The funds do not require repayment.

3% down payment mortgage

Freddie Mac Home Possible® mortgage is a fixed-rate loan with a down payment as low as 3%. Mortgage insurance is required; however, it’s at a reduced cost from most conventional loans. Income limits apply.