More Information

Homebuyers

Am I a Qualified Buyer?

Both the AHOP and HERO programs are designed for persons or families who are at or below 120% of the Area Median Income as a basic threshold. Deeper levels of financing assistance are available for persons or families with a maximum income of 80% of Area Median Income.

80% of HUD Area - Median Income

Person(s) in Household	Maximum Annual Income*
1	$42,450
2	$48,500
3	$54,600
4	$60,650
5	$65,500
6	$70,350
7	$75,200
8 or more	$80,050

120% of HUD Area - Median Income

Person(s) in Household	Maximum Annual Income*
1	$63,650
2	$72,750
3	$81,850
4	$90,950
5	$98,250
6	$105,500
7	$112,800
8 or more	$120,050

*subject to change without notice

Other factors determining eligibility are:

are you a first-time homebuyer (with no ownership during the last three years.)
have you completed a homebuyer education course
are you working with an approved participating lender?

For more details, please see individual program descriptions.

Lenders

What is a Participating Lender?

Both the AHOP and HERO programs are administered by the Community Development Commission of the County of Los Angeles (CDC). Lenders must complete CDC training in order to become approved lenders for homebuyer programs.

Please call (323) 890-7034 for more information on how to become a participating lender.

REO Managers

What is an REO Manager?

REO stands for Real Estate Owned. REO Managers oversee the disposition of foreclosed properties owned by their lending institution.

What foreclosed properties are eligible for HERO ?

HERO properties must be located in eligible census tracts in order to comply with L.A. County's approved Neighborhood Stabilization Program (NSP) guidelines and also offer a minimum 15% discount from the current market-appraised value of a property.

Click to see a map of target areas [PDF 876KB]

Note: Other L.A. County cities may also have NSP Programs of their own, and the eligibility requirements will differ.

How do I list a property on this site?

REO Managers must provide assurances of compliance with the HERO / ISRP program requirements and be approved by the CDC in order to register properties on this site.

Real Estate Professionals

Can Brokers or Agents list Foreclosed Properties?

The Los Angeles County Housing Resource Center webpage offers a secure, managed listing service for any qualified broker, agent or real estate professional working with REO properties. Provided that REO managers or lending institutions are willing to discount the sale price in accordance with L.A. County HERO guidelines, individual brokers and agents may obtain permission to list specific foreclosed properties in HERO target areas.

Government Agencies

The Los Angeles County Housing Resource Website provides a platform for all cities within Los Angeles County to list homebuyer programs that have financing assistance or other benefits to low, moderate and middle income families or persons.

Please contact Larry Newnam, LAC-HRC Project Manager for more information at larry.newnam@lacdc.org.