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City hosts "FirstHOME" info meetings for first-time homebuyers

Posted: September 23, 2009 11:44 a.m.
Updated: September 23, 2009 6:00 p.m.
 
The city of Santa Clarita is inviting local residents to attend informational meetings on its first-time homebuyer program, called FirstHOME.

The meetings will be held on Saturday, Sept. 26 from 10 a.m. to 12 p.m. at the city's Sports Complex Activities Center and Tuesday, Sept. 29 from 7 p.m. to 9 p.m. at City Hall's first floor Council Chambers.

Made possible via a grant from the State's Department of Housing and Community Development, FirstHOME assists eligible low and moderate income families in purchasing their first home. The program offers a low-interest, deferred-payment second mortgage to be used as a down payment on a home inside the city limits.

Because funding is limited, the city will hold a lottery to offer the opportunity to apply for the program. At least one buyer from each household must attend one of the meetings in order to be eligible for the lottery.

Anyone looking to purchase a home in Santa Clarita is eligible to apply for the program. Applicants who have lived or worked inside city limits for at least the last 6 months will be given priority in the lottery.

Homes purchased through the program may be single family or condominiums. Loans can not exceed 50 percent of the sale price of the home. Additional limits on the number of bedrooms and total loan amounts also apply.

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