Discover the First-Time Homebuyer Program in LA: Your Guide to Los Angeles Homeownership Today


Does Los Angeles have a first-time homebuyer program? Yes, and there are two of them. The City of Los Angeles Housing and Community Investment Department (HCIDLA) offers a program to help first-time home buyers, and so does the County of Los Angeles through the Los Angeles County Development Authority (LACDA).

One important thing to remember about most first-time homebuyer programs: it’s not always the case that an applicant has never bought or owned a home before. You must not have owned a home during the last three years to qualify for the programs. And you need to live in the house that you buy.

What Do the Different LA First-Time Home Buyer Programs Provide?

The City of Los Angeles provides the LIPA (Low Income Purchase Assistance) program, which can provide up to $140,000 for purchase assistance. LIPA funding can cover down payments and closing costs. The program can help with single-family home purchase prices up to $973,750 and condo or townhome purchases of $593,750. The LIPA program is available for home purchases within the incorporated City of Los Angeles. 

The County of Los Angeles Home Ownership Program (HOP) is a second mortgage loan for first-time homebuyers that can provide up to $85,000 or 20% of the home purchase price, whichever is less. It is a zero-interest loan with deferred payment.

Who Is Eligible For First-Time Homebuyer Programs?

The first-time homebuyer programs are intended to assist low- to moderate-income home buyers. Los Angeles County’s program eligibility limits are 80% of the County median income, which is $95,300 for a family of four. The City of Los Angeles LIPA program is also capped at 80% of the County’s median income. Still, the City also has a moderate-income first-time homebuyer program which will go up to 150% of the median income.

You can’t own any other real estate to be eligible for these programs. The programs are intended for people who are buying a home to live in.

You must also meet minimum credit score requirements, with a FICO score of at least 660.

Using a First-Time Homebuyer Program to Buy a Home in LA County or the City of Los Angeles

California Platinum Loans is an experienced, caring, and responsive mortgage broker who can assist you in accessing first-time homebuyer programs to help you buy the home you need and want. You can combine first-time homebuyer programs with a home loan that fits your needs. Contact California Platinum Loans today to get started making your home ownership dreams a reality.