Good News for Real Estate Agents!

The HOP Porgram will provide up to $75,000 in downpayment assistance to help your client purchase a home in the northeast San Fernando Valley. 

Here is the information you will need to help your client take advantage of this program:

1. Carefully review all of the information on this site so that you are completely familar with how the program works.
2. In order to reserve funds for your clinet, ALL of the following are required: a) they must attend a home buyer education workshop (see Free Workshops link to the left), b) they must complete the individual counseling session, and c) there must be a fully executed purchase agreement between the buyer and seller for a specific property.
3. The fully executed purchase contract along with a copy of their workshop and counseling certificates should be faxed to (562) 724-6080.
4. Reservation will be good for 90 days and will be on a first-come, first-ser5ve basis.

The East San Fernando Valley HOP program is a great way for real estate and mortgage professionals to expand their business by serving low- and moderate-income first-time home buyers.   Any agent or lender can participate in the East Valley HOP program.  There is no special certification process required. 

Real Estate Agents

The East Valley HOP program provides up to $75,000 in secondary financing that requires no monthly payments for 45 years.  Your client will be required to contribute a 3% down payment and obtain approval for a first mortgage.  In the vast majority of cases the first mortgage will be conventional (not FHA).  There are no special property condition or inspection requirements.  Use "Eligible Areas" page of this website to verify if the property your client wants to purchase is located in an eligibile area.  Your client must attend a free information workshop (see this webiste for detials) and you are welcome to attend the workshop with your client.  After the workshop, your client will schedule an individual counseling session where their initial eligiblity and purchasing power will be estimated.  They can also obtain approval for their first mortgage at this meeting.  For more detailed information about the East Valley HOP program, please read the "Do I Qualify?" section of this website.

Mortgage Lenders

Any lender may participate in this program.  You must be able to originate a 30 year fixed rate loan (conventional or FHA) that can be used in conjunction with the subordinate financing offered by CRA/LA.  The East Valley HOP loan conforms with Fannie Mae's Community Seconds guidelines.  To obtain a copy of promissory note and deed of trust, please send an e-mail to Matt@GoHomeLA.com.  For more detailed information about the East Valley HOP program, please read the "Do I Qualify" section of this website.