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Realtors launch grant program

Posted: May 29, 2012 1:55 a.m.
Updated: May 29, 2012 1:55 a.m.
 

First-time homebuyers are eligible for a $2,000 grant under a program launched recently by the Southland Regional Association of Realtors.

This year's version of the popular annual program, offered by the association in conjunction with the California Association of Realtors' Housing Affordability Fund, is aimed at first-time buyers who purchase a home with the close of escrow coming after May 7, the official launch date. Grants of $2,000, which need not be repaid, will be available for one year or until funds have been exhausted, whichever comes first.

"Though a grant cannot be awarded until after escrow closes and each applicant must adhere to a set of rules, we always have a flood of applications," said Wendy Silver-Hale, president of the association. "It's an extremely popular community program that Realtors are proud to extend to first-time homebuyers."

To qualify, applicants must meet an income limit, the home purchased must be within the San Fernando or Santa Clarita valleys, and the buyer must use a SRAR member through the close of escrow. Additionally, the buyer must also attend a first-time homebuyer course that is approved by the Los Angeles Housing Department and submit proof of completion. Applications for a grant will not be accepted until after escrow has closed.

Grant rules, an application form, a list of LAHD-approved first-time homebuyer courses, and how to make a tax-deductible donation to the Housing Affordability Fund are available online at www.SRAR.com.

 

 

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