Low Income Assistance Program (LIPA) - First Time Homebuyer Assistance
The City of Los Angeles through the Housing + Community Investment Department (HCIDLA) offers programs for low-income, first-time homebuyers.
In April 2019, a first-time homebuyer, Vicente Cain Rivera III, purchased a condominium in Lake Balboa for $249,000. He is a photographer, single, and 22 years old. Mr. Rivera was able to realize his American dream of homeownership through HCIDLA’s Low Income Purchase Assistance (LIPA) and Mortgage Credit Certificate (MCC) programs. He obtained a LIPA loan of $75,580 for down payment, closing costs, and acquisition. He contributed $2,950 of his own funds for down payment.
The HCIDLA Homeownership Unit works diligently to process qualified applicants for the LIPA and MCC programs. For information on the program features and eligibility requirements, please visit: https://hcidla.lacity.org/homebuyers
By Lasisi Azeez
Editor Sandra Mendoza