City of Bellflower, CA Home Buyer Assistance Program.....

The City of Bellflower which is located in the county of Los Angeles has available a First Time Buyer Program at this time which is known as the "Home Buyer's Assistance Program" (HAP) where the buyer can receive up to $40,000.

The goal of the program is to help first time buyers with obtaining funds, as a second deferred loan, for their down payment, non-recurring closing cost and for other cost associated in the purchase of their home.

In order for a buyer to obtain funds for this program they will need to qualify based on the guidelines. The one major challenge which I see here, and why there is still money available in this program is that the buyer will have to come in with at least a 20% down payment. But when you take into consideration that this is a second position simple interest loan, with no monthly payments until the property is sold, refinanced or change of title occurs....Not bad. Now food for thought: After the tenth year the interest on this loan is forgiven, and after 30 years of ownership the principle on the second is forgiven.

For more information on this program I am providing you a link here to the city's web site: City of Bellflower HAP site Good Luck!