2019 HOA HOMEBUYERS GRANT

2019 HOA HOMEBUYERS GRANT

Southland Regional Association of Realtors?, in partnership with the California Association of Realtors? Housing Affordability Fund, is providing grants to qualified first-time home buyers up to six month of HOA dues, not to exceed $2000.

Applicants must meet certain requirements, including income limitations.

For information on this program, including a full list of requirements, visit grants

? Close of Escrow must have occurred AFTER February 15, 2019.

? The home MUST BE owner occupied. ? Buy a home with applicable HOA dues/fees.

? The applicant may not exceed certain income limits.

? Checks will be payable to HOA. ? Applicant must attend a First-Time

Homebuyer/Homebuyer course.

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 FEB. 15, 2019 OR UNTIL ALL GRANTS HAVE BEEN AWARDED, WHICHEVER COMES FIRST.

2019 Homebuyer HOA Grant Program

The Southland Regional Association of REALTORS (SRAR) is proud to announce its 2019 Grant Program aimed at homebuyers who have purchase a home with HOA fees associated. The homebuyer must purchase their home through a REALTOR? member and meet certain income limitations. The amount of each grant will vary depending on their monthly HOA dues, and will cover up to 6 months of HOA dues, not to exceed $2000. The grant will only be paid to HOAs directly after the close of escrow. Repayment of grant is not required.

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 FEBRUARY 15, 2019 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 ON or AFTER February 15, 2019.

The applicant must live in the property purchased. The home MUST BE owner occupied.

The applicant must purchase a property with HOA fees associated.

The applicant may not exceed the income limitations as follows:

1-2 Household Members $116,280

3 or more Household Members $135,660

Applicant must attend a First-Time Homebuyer/Homebuyer course that is approved by the Los Angeles Housing Department (LAHD) and must prove the successful completion of the course with the certificate. For a list of LAHD-approved courses, visit and "Homebuyer Grants" under the Community section of the website.

Checks will be payable directly to HOA.

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 10 of the contract showing buyer's agent 4. Applicant's Homebuyer course certification 5. Income verification (previous year's tax return or last two months pay stubs) 6. CC&R's stating HOA monthly dues with HOA contact information 7. Homebuyer Grant Application (This form)

Once you have assembled this information, it must be submitted to: Kathryn Voght? 818-947-2250 kathrync@ Southland Regional Association of REALTORS | 7232 Balboa Blvd., Van Nuys, CA 91406

NOTE: It may take 60 days or longer to receive the funds once your application is approved.

1

2019 Homebuyer HOA Grant Program

Buyer's Name (Last, First, MI):___________________________________________________________ Buyer's Phone Number: _________________________________________________________________ REALTOR?'s Name:___________________________________________________________________ REALTOR?'s NRDS Member ID:________________________________________________________ Property Address:______________________________________________________________________

________________________________________________________________________ HOA Monthly Amount: _____________________________________________________________

Please verify that all required information and documentation is included with your application: Close of Escrow Date _________/__________/___________ Photocopy of Buyer's identification Copy of Final Closing Statement Copy of page 10 of the contract showing Buyer's Agent Applicant's proof of Homebuyer course completion CC&R's stating HOA monthly dues with HOA contact information Income Verification (previous year's tax return or last two months pay stubs)

By signing this application, you certify that all information provided is truthful and accurate: Applicant Signature: ___________________________________________Date:__________________ REALTOR? Signature: __________________________________Date:__________________

To be completed by SRAR

Package Reviewed on: _____________________________

Approved

Denied

SRAR Reviewer: __________________________________________ Date: _____________________

2

APPROVED HOMEBUYER EDUCATION PROVIDERS All applicants for the SRAR Home Buyer Grant are required to attend an eight (8) hour homebuyer education course given by an LAHD Approved Homebuyer Education Provider. Below is the list of approved classes. Please be sure to call or visit websites to register. These are not SRAR classes.

LA Neighborhood Housing Services (LANHS)

(213) 381-2862 Languages: English and Spanish Website: Check calendar online at website. Homebuyer Course 8 hour

$100/Person

New Economics for Women

Tel: (213) 483-2060 Languages: English and Spanish Website:

Shalom Center

2975 Wilshire Blvd., Suite 415 Los Angeles, Ca 90010 (213) 380-3700

Languages: English and Korean Website:

$50 Fee/Person Shalom center offers an online course.

West Angeles Comm. Dev. Corp. (WACDC)

(323) 751.3440 ext. 41 Languages: English Website:

$65 Fee/Person Online course available

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download