CRA/LA is launching a new program to strengthen neighborhoods by providing local homeownership opportunities. The Program assists moderate-income families in purchasing their first home. Through this program, CRA/LA will provide qualified homebuyers with up to $75,000 in a deferred second mortgage to assist with the purchase of a single family home.

CRA/LA has partnered with two experienced non-profit organizations, the Los Angeles Neighborhood Housing Services (LANHS) and the East Los Angeles Community Corporation (ELACC), to implement this program.

You may qualify for the program if:

•  Your annual household income is below $74,520 for a family of four (may increase for a larger family.)

•  You have not previously owned a home in the last three years.

•  You are able to obtain a conventional first mortgage.

•  You can make a down payment of at least 5% of the purchase price.

•  You intend to use the home as your primary residence.

•  You complete a minimum of 4 hours of homebuyers’ education courses.

To learn more about the program and whether you qualify, contact:

East LA Community Corporation

Ernesto Espinoza      
(323) 269-4214

www.elacc.org

Los Angeles Neighborhood Housing Services

Ron Martinez              
(213) 381-2862

www.lanhs.org