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Find Homeownership Incentives

Home Ownership Program (HOP)

3% Down First Mortgage Down Payment Assistance (DPA) Down Payment Assistance Closing Costs

Type Of Program

Down Payment & Closing Costs

Program distribution

Grant

Program Originator

Los Angeles County Development Authority

Amount

$0.00

Contact

605-773-3181 or info@sdhda.org

Blocks

Interest Rate

Loan Term

30 yr. Fixed

Address
Los Angeles
Description
Designed to meet the needs of low-income families, HOP provides loans of up to 20% of the purchase price for down payment and closing costs assistance not to exceed $75,000. Each loan is a second Trust Deed loan provided at 0% interest with all payments deferred until sale, transfer, refinancing, no longer owner-occupied, or full repayment of the first mortgage. HOP loans are available to first-time homebuyers in the unincorporated areas of Los Angeles County and cities participating in the Community Development Block Grant (CDBG) Urban County Program.
Household Income Restrictions

The limits may vary based on the county in which the home is located

AMI Limit

No

AMI

Credit Requirement

Max Debt To Income

45%

Employer Participation Required

No

Must Contribute Amount

No

Requires Inspection

Yes

Must Earn Counseling Certificate

Yes

Eligibility Limitations

If you are first-time homebuyer and are interested in applying for the program, contact a HOP participating lender to get pre-qualified. Only a HOP participating lender can submit a HOP application on your behalf. HOP applications will be accepted on a first-come, first-served basis. L.A. County Median Income Guidelines - Effective April 1, 2021 80% COUNTY MEDIAN INCOME *Income not to exceed maximum amount per family size. No. of Persons in Household Income Limits 1 $66,250 2 $75,700 3 $85,150 4 $94,600 5 $102,200 6 $109,750 7 $117,350 8 $124,900

Cash Sale Permitted

No

Cosigner Permitted

Yes

Owner Financing Permitted

No

Must be Primary Residence

Yes

Program Provider's Contact Name

Program Provider's Address

Program Provider's Phone

Program Provider's Email

Home Buyer Obligations

Reservation to UW Cert: 15 days (loans cancel if not certified) Reservation to Close and Delivery: 45 days Reservation to Loan Purchase: 70 days