The City of Santa Ana is offering interest-free loan assistance for first time home buyers. Eligible individuals could receive more than $ 100,000 toward a home purchase.
Indira Sosa, a restaurant employee, commented that she is looking to acquire her first home,
But what he did not know is that because he is a resident of Santa Ana or works in it, he could be eligible to receive a loan of up to $ 120 thousand and use it as a down payment.
“It will be good for people who want to buy a house,” said Sosa.
“Our loan is zero interest and they have up to 45 years to pay it off,” said Claudia Shaw, spokeswoman for the Santa Ana Housing Department.
The program called “My First Home”Was established to help low-income, moderate-income families. Those interested must meet some requirements such as being pre-approved by a bank or financial institution, and have a 3% down payment.
The financial aid program to pay the internet bill started in May, but billions of dollars are still available. The program is called Emergency Broadband Benefit.
“They have to have 3% saved for the last 3 months, and it has to be in the bank, and the rest of the loan comes from a bank or a mortgage company,” Shaw added.
Another requirement are:
- that the home is acquired in the city of Santa Ana;
- that they are first buyers and;
- that your income does not exceed what is established by this program
“Low-income people can get up to $ 120,000 in down payment, and moderate-income people can get up to $ 80,000,” Shaw said.
The “My First Home” program could make the dreams come true of several residents, such as Mrs. Sosa who commented that she will take the first steps to be a homeowner.
For more information about the “My First Home” program, go to the page santa-ana.org/my-first-home or call 714-667-2250.
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