Mortgage Assistance Program (MAP) (OC Housing & Community Development)

  • What it is: Provides silent (deferred payment) downpayment assistance loans to

    assist low-income first-time homebuyers.

  • Details: 3% simple interest, deferred payment loan with a 30-year term and a

    maximum loan amount of $80,000. Requires a 1% minimum down payment from

    the buyer. Total sales price cannot exceed 85% of the Orange County median

    sales price. Homebuyer education workshop required.

Homeownership Program (Orange County Housing Authority - OCHA)

  • What it is: Allows qualified Housing Choice Voucher (HCV) participants to use

    their housing assistance subsidies for mortgage payments instead of rent.

  • Eligibility: First-time homeowners meeting specific qualifications and

    pre-approved by a lender.

Single Family Housing Repair Loans & Grants
(USDA Rural Development - Section

504 Home Repair program):

What it is: Loans to very-low-income homeowners to repair, improve or

modernize their homes (up to $40,000) or grants to elderly very-low-income

homeowners to remove health and safety hazards (up to $10,000 lifetime limit).

Loans and grants can be combined (up to $50,000).

Who can apply: Homeowner must occupy the house, be unable to obtain

affordable credit elsewhere, have household income below very low limit, and (for

grants) be 62 or older. Must be in an eligible rural area (check USDA Eligibility

Site).

Details: Loans are 20-year term at 1% fixed interest. Grants must be repaid if

property is sold in less than 3 years.

NMLS:

1926173

Call:

(562) 734-5400

DRE:

02239785