First Time Homebuyers, Housing, Housing Programs|

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We offer a purchase assistance program for first-time, moderate income homebuyers to help them finance their first home.

Financial Assistance for Moderate Income Homebuyers

The Moderate Income Purchase Assistance Program helps first-time, moderate income homebuyers purchase homes by providing loans to cover the down payment, acquisition, and closing costs.

Who’s eligible

  • First-time homebuyers who have not had an ownership interest in any real property at any time during the last three years

  • U.S. Citizens, lawful permanent residents, or other qualified aliens

  • Applicants whose total household income of all of the adults, 18 years of age or older who will be living in the home, is at or below the income limits shown on the table below
2020 Maximum Income Limits
Household Size12345678
Low Income
(Up to 80% AMI)


or less


or less


or less


or less


or less


or less


or less


or less

Mod 120
(81% – 120% AMI)

















Mod 150
(121% – 150% AMI)

















* For larger household sizes, please contact HCIDLA.

Other Program Requirements

  • Applicants must attend an 8-hour, in-person Homebuyer Education Class given by one of our approved providers

  • Applicants must contribute a minimum of 1% of the home price from their own funds as down payment. Some homebuyers may be required to contribute more than 1% toward the down payment

  • Homebuyers must occupy the home as their principal residence

Loan Amount

We provide a loan of up to $60,000 for down payment, closing costs, and acquisition.  Up to $60,000 will be available for homebuyers earning between 81-120% Area Median Income (AMI) and up to $35,000 will be available for homebuyers earning between 121%-150% AMI.

Loan terms

  • Deferred, requiring no monthly payments

  • Loans have a Shared Appreciation component in which the City will share a certain percentage of the appreciation in the value of the property. For an example of Shared Appreciation, click here

  • Repayment is due on sale, title transfer, first mortgage repayment, or in 30 years

  • Refinancing of first mortgage is allowed under certain conditions

Eligible properties

  • One unit properties, i.e. single family residences including townhomes and condominiums

  • Properties must be located in Los Angeles

  • No maximum purchase price limits

  • Properties cannot be occupied by tenants

  • Approved short sales/pays, foreclosed and REO properties and regular sales

  • All properties are inspected by the City to ensure they meet all applicable state and local housing standards and code requirements. We also conduct a Lead Based Paint Visual Assessment on the property to identify deteriorated paint in the homes. All properties must pass the City inspection. Any required corrections or repairs on the property should be done at the cost of the owner or homebuyer and must be completed before the application for financial assistance is submitted.

Example of how this program works?

We provide purchase assistance up to a maximum of $60,000.  The Low Income Purchase Assistance loan provides the difference between the purchase price plus closing costs (up to 5% of the sales price) and the amount of the buyer’s first mortgage loan, down payment and other funding sources.

Example-MIPA 120
Purchase Price of Home$500,000
Buyer’s Closing Costs:$20,000
Funds Available: 
First Mortgage Amount (for which buyer qualifies)$455,000
Homebuyer Down Payment (1% of purchase price)$5,000
City Purchase Assistance Loan$ 60,000
Total City loan in the above example is $60,000.

How to apply

Please contact one of our Participating Lenders to get pre-qualified for a first mortgage and City loan or call (213) 808-8800 for more information.

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