|
|
|
 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
Housing Programs
Effective January 4, 2010
Help for Those Facing
Homelessness
Help for Those Facing
Home Foreclosure AB 987 Affordable Housing Database, a Public Database of Affordable Units and Enforceability In accordance with the provisions of AB 987, a worksheet describing existing new and substantially rehabilitated housing units that were either developed or otherwise assisted with Low- and Moderate-Income Housing Funds, has been prepared and posted for public review. Please see the file linked below.Also, in accordance with the law, this database does not include any property used to confidentially house victims of domestic violence. Please be aware that this is simply a listing of affordable housing that has been assisted with low- to moderate-income housing funds: it is not a listing of currently available housing. To determine whether there are vacancies at any of the rental locations, please contact the apartment sites directly. AB 987 Affordable Housing Database Housing Programs Under California Redevelopment Law, 20 percent of the tax increment generated by the Agency’s project areas is to be placed into a set-aside fund and is to be utilized for qualifying housing related activities. The Housing Division oversees housing-related activities that benefit low to moderate income persons to help maintain, protect, and preserve the affordable housing stock in the City of Covina. Rent Subsidy Programs The Agency provides a rent subsidy program for senior citizens at the Village Green Senior Apartments, (152 E. Covina Boulevard., Covina, CA 91722), the Smith Senior Housing project, (223 N. Citrus Avenue, Covina, CA 91723), and at various locations throughout the City. New applications are not being taken for this program. In addition, a rent subsidy is provided for battered women and children through the YWCA WINGS program Home Ownership Programs The City of Covina participates in several special loan programs that offer down payment and/or closing cost assistance to the home buyer. Several of the programs place a "silent second" on the property.
The Home Ownership Program (HOP), operated by the County of Los Angeles, offers 0% interest loans to borrowers who have not owned a home in the last three years. Maximum loan amount is $80,000, or 20% of the purchase price, whichever is less.The County of Los Angeles does not make loans. The homebuyer goes through the normal process of choosing a Realtor, finding a house and arranging financing with a participating lender. For more information about this program, call the "HOP" line at (323) 890-7281. Some participating lenders in the program are:
A more detailed list of lenders can be obtained from the HOP office. Additional information can be obtained on this program by accessing the Los Angeles County Housing web site at www.lacdc.org, then under "programs" go to "First Time Buyers Programs" then the three Los Angeles County Homeownership programs. Mortgage Credit Certificate and Mortgage Revenue Bond programs may be available with the Home Ownership Program. MCC Program Most borrowers who qualify for the HOP program also qualify for the Mortgage Credit Certificate (MCC) program, which offers the first time homebuyer a federal income tax credit. This credit reduces the amount of federal taxes the holder of the certificate would pay. The qualified homebuyer who is awarded an MCC may take an annual credit against their federal income taxes paid on the homebuyer’s mortgage. If both the homebuyer and the new home are eligible, the participating lender fills out the MCC application forms for the homebuyer, and sends them to the County for review. If both the home and homeowner qualify, the County can then issue an MCC. There is a $250 non-refundable application fee for an MCC. For more information on how to apply, contact the Los Angeles Community Development Commission’s (CDC) MCC Program Specialist at (323)890-7034. SCHFA The Southern California Home Financing Authority (SCHFA) is a joint powers authority formed in June 1988 to issue tax-exempt mortgage revenue bonds for low and moderate-income first-time homebuyers. The SCHFA has helped thousands of individuals and families fulfill their dreams of owning their own home. If you are ready to purchase a home and think you are qualified for the program, please contact a Participating Lender for additional information. The lender will determine if you actually qualify for the program. After you have been pre-qualified you may begin to shop for a home. Funds may be reserved for you if you have been pre-qualified and have a properly executed purchase contract (subject to available funds). Income limits for a household of one or two persons is up to $88,800; for a household of 3 or more persons, the income limit is up to $103,132. Purchase price limit for an existing home is $698,229. More information can be found at the agency’s website, www.lacdc.org, or by calling the SCHFA Information line at (323) 890-7249. Independent Cities Lease Finance Authority (ICLFA) Program Covina participates with the Independent Cities Lease Finance Authority (ICLFA) in its Down Payment and Closing Cost Assistance programs. These programs are offered in partnership with the National Homebuyers Fund (NHF). The ACCESS and NHF GOLD Second Loan Program funds may be used for down payment and closing costs in the form of a Second Mortgage. This mortgage has a 20 year term, at a specific fixed rate, paid monthly, and may assist up to 7% of the sales price. ACCESS and NHF GOLD FHA funds are available to those qualified homebuyers with incomes of up to 120% of the area median income. The income limit for the conventional programs is up to 140% area median income. For FHA loans in Los Angeles County, the income limit is $75,000; for conventional loans in Los Angeles County, the limit is $87,500. Both income limits are regardless of family size. For further information, contact National Homebuyers Fund at (866) 643-4968., or get more information on the web at www.iclfa.org. Housing Rehabilitation Programs The Housing Rehabilitation and Preservation Program funds residential repair and improvements for the low to moderate income homeowners, so as to help maintain, protect and preserve the City’s existing affordable housing stock. This program is intended for single-family detached homes and mobile homes. Funds for this program are limited and requests for funds are evaluated based upon a combination of need, and first come, first served basis. All properties that receive loans shall be subject to a lien placed upon that property. Pre-applications are available by calling the Housing Division at (626) 384-5443. There is currently a waiting list for rehabilitation work. Rental Assistance-Federal Section 8 Program Administration Federal Section 8 rental assistance for the Covina area is managed by the Los Angeles County Housing Authority. General Information The Housing Authority receives funds from the U.S. Department of Housing and Urban Development (HUD) to provide housing subsidy payments that help eligible households to pay their rent in privately owned rental units. To be eligible, a household's income must be verified as equal to or below income limits set by HUD. When a household comes to the top of the waiting list and has been determined eligible, the head of Household is issued a Voucher assistance based on the number of people in the household. The Voucher holder must locate a decent, safe and sanitary rental unit owned by a private landlord who is willing to rent to his/her family. The rent for the unit must be "reasonable," that is, comparable to similar units of the same size in the surrounding area. Conventional Public Housing is an alternative to obtaining a voucher. Qualified persons can live in Authority-owned rental housing under the Conventional Housing plan. The waiting list is approximately three years. To Apply All applications must be made through the Outreach line: 1-562-347-4663 or 1-800-731-4663 select option 3 for registration Hours: Monday through Thursday 8:30 a.m. to 6:00 p.m. Friday 8:30 a.m. to 5:00 p.m. Hearing or speech impaired persons may call: TDD# 1-562-906-4928 Applicants on any of the waiting lists are served on a first-called/first served basis. Selection criteria includes jurisdiction, bedroom size, and funding availability. The average waiting period is 8 to 10 years. Call 1-800-731-4663 or (562) 347-4663 at least once a year to check if you are still on the waiting list. Please have your social security number available for faster service. To Place Your Name on the List Have the following information ready: 1. Name of Head of Household, date of birth, social security number, address, telephone number 2. Names, birth dates and social security number of all other people who will be living in the household. 3. Sources of all household members' income 4. Information concerning household members with a disability ANY CHANGE in the information listed above must be reported immediately, in writing, to: The Application and Eligibility Unit, P O Box 2129, Santa Fe Springs, CA 90670 Tenant Income Limits (2007)
*AMI-Average Median Income For further information, please contact Housing Authority, County of Los Angeles, 12131 Telegraph Road, Santa Fe Springs, CA 90670 Or on the internet, go to: http://www.lacdc.org To report Crime or Fraud in Section 8 assisted units, call toll-free 1-877-881-7233 Note: This information is subject to change HOUSING RESOURCES To obtain current information on available housing for rent, or to list (at no cost) available rental housing, see: http://housing.lacounty.gov For information on landlord/tenant rights and responsibilities, and to obtain a copy of the California Department of Consumer Affairs Guide, go to the California Department of Consumer Affairs website: http://www.dca.ca.gov/publications/landlordbook/index.shtml Landlord/Tenant Disputes Discrimination
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
