First-Time Homebuyer Grants
First-Time Homebuyer Grants
2012-13 First-Time Homebuyer Grants
First-Time Homebuyer Grants
2012/2013 First-Homebuyer Grant Program for San Fernando & Santa Clarita Valleys
Click here to download the application in PDF format
The Southland Regional Association of REALTORS® is currently offering grants to qualified homebuyers who purchase their first home within the San Fernando or Santa Clarita Valley and have a low to moderate income-level. The amount of each grant will be $2,000 and will only be paid to qualified applicants after the close of escrow while funding lasts. Repayment of grant is not required.
SRAR staff will administer the applications and grants will only be awarded to the most deserving candidates, as decided by the 2012 HAF Grant Subcommittee.
NOTE: THERE ARE A LIMITED NUMBER OF GRANTS. GRANTS WILL ONLY BE AWARDED TO THOSE APPLICANTS WHO QUALIFY AND WILL BE DISTRIBUTED ON A FIRST-COME, FIRST-SERVE BASIS. THIS GRANT PROGRAM WILL LAST ONE YEAR BEGINNING MAY 7, 2012 OR UNTIL ALL GRANTS HAVE BEEN AWARDED, WHICHEVER COMES FIRST. BUYERS MUST BE ADVISED THAT SIMPLY SUBMITTING AN APPLICATION DOES NOT GUARANTEE AN AWARDED GRANT.
Qualification Requirements:
-Close of Escrow must have occurred AFTER May 7, 2012.
-Applicant must be a first-time homebuyer, as defined by the State of California.
-Applicant must use a REALTOR® member of the Southland Regional Association of REALTORS® (SRAR) in the purchase of their home through the close of escrow.
-The home to be purchased must be within the jurisdiction of SRAR.
-Applicant must not exceed the following income limitations: 1-2 Household Members = $95,160 3 or more Household Members = $111,020
-Applicant must attend a First-Time Homebuyer course that is approved by the Los Angeles Housing Department (LAHD) and must prove the successful completion of the course with the certificate.
Click here for a list of LAHD-approved courses.
-The grant recipient must finance their home with either an FHA loan, a conventional loan with at least 5% down, a VA Loan, a Cal-Vet Home Loan, OR a HomePath mortgage. Proof of financing must be provided
To receive the funds you will need:
1. A photocopy of your ID (BUYER)
2. A copy of your final closing statement from the escrow company.
3. Page 8 of the contract showing buyer's agent
4. Applicant's First-Time Homebuyer course certification
5. Income verification (previous year's tax return or last two months pay stubs)
6. First-Time Homebuyers verification (Lender/CPA/W2's etc.)
7. Proof of financing
Once you have assembled this information, it must be submitted to:
Joey Lewis - Director, Member & Community Relations
Southland Regional Association of REALTORS
7232 Balboa Blvd., Van Nuys, CA 91406
NOTE: It may take 30 days or longer to receive the funds once your application is approved.
