Getting Help Buying a Home

These organizations offer information as well as programs that will help you get ready to buy and pay for a home.

Los Angeles County Community Development Commission

The Community Development Commission offers zero-interest loans and tax credits to help first-time homebuyers afford a house. Here are two of their programs that, if you qualify, can help you buy your own home:

• The Home Ownership Program (HOP): Provides zero-interest loans to first-time homebuyers who qualify. You can get a zero-interest loan of $30,000 to $40,000. And, you don’t need to repay the loan until your home is sold, transferred or refinanced. (If you buy a home in one of the “target areas,” your loan will be on the higher end).
• Mortgage Credit Certificate Program: You save money on your federal income taxes through a tax credit that helps you pay your mortgage (it can also help you qualify for a loan).

U.S. Department of Housing and Urban Development (HUD)

On HUD’s website, you can get valuable information and help with things like:

• How to buy a HUD home (usually you can get these homes for less money than other homes)
• How to apply for public housing and Section 8
• Finding a HUD-approved lender in your area
• Talking to a housing counselor
• Getting answers to commonly-asked asked questions about buying a home
• Information for homebuyers.

Fannie Mae Foundation

Fannie Mae has free guides with helpful information on:

• Credit
• Home Buying
• Mortgages