The Southland Regional Association of Realtors? is offering grant money to qualified homebuyers who purchase their first home within the San Fernando or Santa Clarita Valley, and have a low to moderate income-level.
The grant will be $2,000 and is paid to the qualified buyer after the close of escrow. The best part:? you don?t have to pay the grant back!
As with most assistance programs, there are some general requirements that you must meet an order to be eligible for the grant:
- Escrow must close AFTER May 7, 2012
- Applicant must be a first time homebuyer, as defined by the State of California
- Applicant must use a REALTOR? member of the Southland Regional Association of REALTORS? (SRAR) for the purchase
- The home to be purchased must be within the jurisdiction of SRAR
- Applicant must not exceed the following income limitations:
- 1 ? 2 Household members = $95,160
- 3 or more Household members = $111,020
- Applicant must attend and complete a First Time Homebuyer course that is approved by the LA Housing Department
- Applicant must finance their home with either a FHA loan, conventional loan with at least 5% down, VA loan, or a Cal-Vet loan. Proof of financing must be provided.
You will also need to provide additional documentation in order to receive the $2,000 grant money.
What?s the catch?? There are a limited number of grants available, and are given out on a first come, first serve basis. The grant will only be available through May 7 2013, or until funds run out. In my experience, these types of programs rarely last the full year, so you?ll want to jump on this ASAP!
If you would like to start your application for the grant, you can email/text/call me directly at (562) 972-0351.
Alissa Alvarez
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