Once known for its 1,100 acres of olive groves, Sylmar (which means "Sea of Trees") is nestled in the hills of the San Fernando valley at the base of the San Gabriel mountains.
Although Sylmar is only 20 miles from the Pacific Ocean and snow in the San Fernando Valley is extremely rare, the neighboring Angeles National Forest is capped with snow every winter.
Nestled among those hills is one of Sylmar's oldest neighborhoods, Olive View, where Polk Village lies, a 28 unit planned urban development (PUD).
Constructed in 2007, this community was built with high-end materials and luxurious features that include vaulted ceilings with recessed lighting and in the kitchen and bathrooms are custom oak cabinetry with satin nickel hardware and granite countertops. Additional features include direct access garages, fenced yard - front & back and self-cleaning kitchen appliances and walk-in closets in the master bedrooms.
There is currently a Polk Village home available home to purchase offers nearly 1500 sq. ft. for $279,000. Don't worry about having to fix up this home after the close of escrow. This home isn't another run-down and dilapidated dumpy REO like all the rest of the properties you've probably been seeing nor is it a dreaded short sale that will take months to close. This home has been rehabbed and is move-in ready and the low HOA of $121.00 make this complex a very appealing community.
Walking distance from both El Cariso Community Regional Park and Sylmar Recreational Center that offer basketball & tennis courts, picnic areas, lighted baseball diamonds and swimming pools as well as after school programs, day camps and community workshops and classes.
Also within walking distance is Los Angeles Mission College that has been serving the educational needs of the San Fernando Valley for 30-years.
The best part though is that this home is eligible for up to $60,000 in down payment assistance. As part of HUD's Neighborhood Stabilization Grant Program, the Los Angeles Housing Department (LAHD) is offering their Low Income Purchase Assistance (LIPA) program.
The LIPA program offers assistance in the form of a "silent second" of up to $60,000 to low income households for down payment and closing cost assistance for homebuyers who wish to purchase properties in LIPA eligible areas. Eligible homes can be vacant foreclosures, approved short sales or regular equity sales. Unapproved short sales are not eligible.
No rehabilitation/repair loan funds will be made available for properties applying under the LIPA program so properties must meet minimum building code standards and must have no building code violations, no structural damage and/or any health and safety hazards.
Eligible buyers are those who do not currently own a home or who have not had an ownership interest in any real property at any time during the last three (3) years. Eligible applicants household income must meet the programs income guidelines and applicants must plan to occupy the property as their primary residence.
LAHD also offers an additional 6% of the purchase price or $10,000 (whichever is greater) through the American Dream Downpayment Initiative (ADDI) program. All low income applicants are automatically considered for ADDI loan funds when applying for the LIPA program.
First Time Buyers: Need some help in purchasing your first home here in LA county? Contact me today to find out if you are eligible for the LIPA program.
Realtors: Do you have a listing here in LA county that needs a qualified and motivated buyer? Contact me today to find out if your listing is in an NSP eligible area.
Today's real estate market and lending environment can be really scary, which is why it's important to get as much information as possible before starting your search. Finding out more about affordable home loan options and getting pre-approved is an absolute must.
If you're interested in more info on how you can qualify for this incredible program, please feel free to contact me, Donne Knudsen, at 805.5278554 or donne4loans@earthlink.net regarding eligibility requirements, available census tracts or if you just have a question. I would love to be able to assist you with finding the most affordable loan option available to you in purchasing your first home here in Los Angeles County.
