The Los Angeles Housing + Community Investment Department (HCIDLA) is pleased to announce key updates to the Low Income Purchase Assistance (LIPA) Homeownership Program. The LIPA Program maximum loan limit has increased from up to $60,000 to up to $90,000. Also, the LIPA Program Maximum Purchase Price limits have increased to $522,500 for Single Family Homes and $457,900 for Condominium and Townhomes.
The LIPA Program assists first-time, low-income homebuyers achieve the dream of homeownership by providing a subordinate “soft second” loan of up to $90,000 for down payment, closing costs, and acquisition financing. The LIPA program is available citywide and is utilized in conjunction with first mortgages and HCIDLA’s Mortgage Credit Certificate (MCC) Program, if eligible.
We invite you to look through the LIPA Program features, benefits, and eligibility requirements via the link below: