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834 East 4th Street
Long Beach
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Affordable Housing Program
How Do I Qualify?
To qualify for the
program, you have to meet the following requirements
| A) |
You have
not owned a home within the last three years or are
selling your home concurrently to purchase this property |
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AND |
| B) |
Your household income DOES NOT exceed the
following moderate-income limits: |
|
Household Size |
115% of Area Median Income (Limits for
FHA financing) |
|
1 |
$44,332 or less |
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2 |
$50,715 or less |
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or |
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Household Size |
120% of Area Median Income (Limits for
Conventional financing) |
|
1 |
$46,250 or less |
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2 |
$52,900 or less |
Financing*
- Must be a minimum of 15
years and rate MUST BE FIXED.
- Maximum 20% down payment
Documentation Requirements*
- Last 3 years of income tax
returns
- Most recent pay stubs for one
full month
- Verification of assets (i.e.,
stocks, bonds, interest bearing accounts, etc.)
- Verification of Employment
If YOU fit within these basic qualifications, then
you MAY qualify for this program.
FOR MORE INFORMATION, PLEASE CALL
(562) 572-8745
*These documents should
support the household income that the first mortgage lender is using
to qualify the buyer.
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