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Home Ownership Program (HOP)

The HOP has been designed to meet the needs of low-income families and individuals who want to purchase a new home. HOP is financed with HOME funds provided through the U.S. Department of Housing and Urban Development (HUD) and is subject to the applicable federal regulations. This program will provide a Second Trust Deed loan 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 in the unincorporated areas of Los Angeles County and cities participating in the Community Development Block Grant (CDBG) Urban County Program. HOP loans provide $60,000 for all first-time buyers to assist with down payment and closing costs.

The HOP is available for existing, new construction, approved short sales, and real estate owned (REO) properties. HOP funds are available on a first-come, first serve basis, until all funds are used.

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Mortgage Credit Certificate (MCC) Program

The MCC Program offers qualified first-time homebuyers a federal income tax credit. The federal credit can reduce potential federal income tax liability, creating additional net spendable income for qualified first-time homebuyers to possibly use toward their monthly mortgage payment. This MCC Program enables qualified first-time homebuyers to convert a portion of their annual mortgage interest into a direct dollar for dollar tax credit on their U.S. individual income tax returns. The qualified homebuyer is awarded a tax credit of up to 20% of the annual interest paid on the mortgage loan. The remaining 80% of the mortgage interest will continue to qualify as an itemized tax deduction.

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Affordable Homeownership Program (AHOP)

The Community Development Commission (Commission) provides first-time homebuyer down payment assistance to low- and moderate- income households who are unable to purchase a new home. The homebuyer must meet credit underwriting criteria established by the lender providing the first mortgage loan, as well as, underwriting for the Commission. The Commission provides the financial assistance via a secondary mortgage, with all payments deferred until sale, transfer, or refinancing. The Commission shares in a percentage of the equity accumulated on the property, depending upon the circumstances that exist at the time of subsequent sale, transfer, or refinancing.

Eligibility Requirements
  1. The applicant must meet the income eligibility requirements for the AHOP Program;
  2. The applicant may not have held an ownership interest in a Principal Residence with in the past there years;
  3. The applicant must occupy the acquired housing as a "Principal Residence"; and
  4. The applicant must attain homeownership counseling and education from an agency accredited and certified by the U.S. Department of Housing and Urban Development or National Reinvestment Corporation. All who will be named on title must attend this training and each person must present a certificate.
2015 Maximum Annual Income Limits:
Person(s) in Household Maximum Annual Income
1 $45,500
2 $53,150
3 $59,800
4 $66,400
5 $71,750
6 $77,050
7 $82,350
8 or more $87,650
Residential Sound Insulation Program (RSIP)

The RSIP is administered by the CDC and provides grants to eligible property owners to sound insulate residential homes and rental units from noise caused by aircraft arriving and departing the Los Angeles International World Airport.

To be eligible for the grants, the property must be located within designated communities of the Lennox, Del Aire, and Athens areas. The property will be inspected, surveyed, and noise tested to determine eligibility. Once the property is qualified, sound insulation improvements may include replacing existing windows and doors with sound-rated doors and windows, installation of an air conditioning or ventilation system, and upgrades of electrical service panels, if required. The value of these repairs ranges from $27,000 to $32,000 per unit. There is no cost to the property owner for any of the noise insulation improvements.

Properties are considered on a block-by-block priority basis, beginning with the highest impacted areas first. The agency will try to service property owners on a first-come, first-served basis on the date the application is submitted, however, this is not the only factor determining placement on a waiting list. Other factors include: block priority, Community Noise Equivalency Level (CNEL) area, funding type restrictions, and the condition of the property.

Those properties that are within the 75 decibels CNEL contour or greater will be required to sign a Noise Easement before participating in the sound insulation program. Property owners will receive a one-time payment of $2,500 for a single-family or multifamily property and/or $500 for a condominium unit. Those who do not sign the Noise Easement will not be able to participate in the sound insulation program.

For more information please call (626) 586-1798 or visit: Opens new browser window

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