First Time Home Buyer
Trying to purchase a home for the first time? Not sure where to start?
The Los Angeles Housing and Community Investment Department offers prospective home buyers a path towards home ownership, through several mortgage loan and down payment assistance programs for first time buyers. The programs, which typically target both Moderate and Low income households, are part of the California Housing Finance Agency’s (CalHFA) plan to make home ownership an reality for residents. In order to qualify for these opportunities, buyers need to complete an 8-hour workshop, as well as, meet with a state approved credit and financial management counselor.
Whether or not you use one of the state’s assistance programs or a private company, you should strongly consider participating in a home buying program, if you are truly serious about purchasing a home in a competitive LA market. These classes as are designed to arm prospective buyers with financial and credit management tools, information on the home buying process, access to low-interest lenders, down payment assistance programs, and a host of other useful services.
Below is a list of local organizations that offer one-on-one credit counseling, as well as, home buyer education classes. These two part courses are designed to arm prospective home buyers with the financial and credit management tools, information on the home buying process, access to low-interest lenders, down payment assistance programs, and a host of other useful services. The programs below typically offer courses multiple times per month, with costs ranging from $50 to $100.
West LA CDC holds classes on the third Saturday of every month.
*Program Cost: $65
6028 Crenshaw Blvd
Los Angeles, CA 90043
NHSLA holds classes on Saturday’s in both English and Spanish.
* Program Cost:$75
1051 W. Rosecrans Ave
Compton, CA 90222
ELLAC typically holds classes one Saturday per month
* Program Cost: $25
2017 E. 1st Street Suite #101
Los Angeles, CA 90033
FACE LA holds classes one Saturday per month
Program Cost: $60
3550 Wilshire Blvd, Suite #736
Los Angeles, CA 90010