Home Owenrship Programs

Home Ownership Program (HOP) provides 0% interest loans to assist low-income first-time owner occupied homebuyers in purchasing a home. Repayment of the loan is due when property is sold, transferred, or refinanced. The HOP provides loans between $20,000-$25,000 or 25% of the purchase price whichever is lowest. Loans are secured by a second trust deed and a promissory note. Loans are amortized over 20 years. The loans are shared equity loans with no monthly payments.  Contact: (323) 890-7281

Mortgage Credit Certificate Program (MCC) offers the first time homebuyer a federal income tax credit. This credit reduces the amount of federal taxes the holder of the certificate would pay. It can also help the first time homebuyer qualify for a loan by allowing a lender to reduce the housing expense ratio by the amount of tax savings.  The qualified homebuyer who is awarded an MCC may take an annual credit against their federal income taxes paid on the homebuyer’s mortgage. The credit is subtracted dollar-for-dollar from your federal income taxes. The qualified buyer is awarded a tax credit of up to 15%.  Contact: (323) 890-7281

The Southern California Home Financing Authority Revenue Bond Program (SCHFA) is a joint powers authority between Los Angeles and Orange County formed in June 1988 to issue tax-exempt mortgage revenue bonds for low and moderate First Time Homebuyers. To date SCHFA has help thousands of individuals and families fulfill their dreams of becoming homeowners. SCHFA offers the following two programs:

  • Regular Mortgage Revenue Bond Program offered by the Community Development Commission of the County of Los Angeles on behalf of the SCHFA provides a first mortgage loan with a reduced interest rate and a gift of 3.5% of the loan amount to be applied towards down payment, closing costs and/or prepaid items.
  • Teachers Mortgage Revenue Bond Program was established to recruit and retain and provide homeownership opportunities to credentialed teachers, principals, and assistant/vice principals who are First Time Homebuyers purchasing homes in the County of Los Angeles. Applicants must be employed full-time in a California K-12 public school with an Academic Performance Index ranking of 1, 2, 3, and commit to teach or serve in a Low Performing School for 5 years.  The program provides a first mortgage loan with a reduced interest rate. Each homebuyer will also receive $7,500 to be applied towards the down payment, non-recurring closing cost and/or prepaid items which consists of a gift for $4,000 and a second mortgage loan for $3,500 forgiven/deferred payment loan.  Contact:  (323) 890-7249

Los Angeles County Median Income for fiscal Year 2001

No. of Persons in Household
Income Limits
80% County Median Income


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