Expo Offers Tips on City, County Loans
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Concerned about housing affordability in their communities, a number of city and county agencies are offering buyers help with their first homes.
Two special workshops on local government loan programs are planned at the Los Angeles Times’ Low-Down Home Loan Expo to be held from 10 a.m. to 4 p.m. Saturday at the Burbank Hilton Convention Center, 2500 Hollywood Way, Burbank.
For example, Los Angeles County’s Homeowner’s Assistance Program offers low-down loans to home buyers who purchase houses in 62 targeted neighborhoods that the county wants to stabilize and increase the homeownership rates.
Orange County will pay up to 1.5% of loan fees for borrowers who tap a joint L.A. and Orange County homeowner fund, which offers low-down payment loans.
And Los Angeles city residents who meet specific income and home-price guidelines can obtain a 7.34%, 30-year fixed-rate mortgage with a minimum 5% down to buy a home anywhere in the city.
Private lenders and state and federal officials will be on hand to explain their low-down programs as well.
To get more details about the expo, call TimesLine at 808-8463 and press star 9420, or see the ad on K10.
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