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
Who’s eligible
First-time homebuyers who have not had an ownership interest in any real property at any time
during the last three yearsU.S. Citizens, lawful permanent residents, or other qualified aliens
Homebuyers must have a middle FICO score of at least 660.
- 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
| Household Size | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
|---|---|---|---|---|---|---|---|---|
| Mod 120 (81% – 120% AMI) | $84,851 – $121,400 | $96,951 – $138,700 | $109,051 – $156,050 | $121,151 – $173,350 | $130,851 – $187,250 | $140,551 – $201,100 | $150,251 – $215,000 | $159,951 – $228,850 |
- Applicants must attend an 8-hour, in-person Homebuyer Education Class given by one of our approved providers
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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
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Homebuyers must occupy the home as their principal residence
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If eligible, applicants who apply for this program may also be required to apply for the Mortgage Credit Certificate Program (MCC).
Loan Amount
LAHD provides a loan of up to $115,000 for down payment, closing costs, and acquisition. Up to $115,000 will be available for homebuyers earning between 81-120% Area Median Income (AMI).
Loan terms
- Zero Percent (0%) Interest
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Deferred, requiring no monthly payments
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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
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Repayment is due on sale, title transfer, first mortgage repayment, or in 30 years
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Refinancing of first mortgage is allowed under certain conditions
Property Eligibility
- Properties must be located in Los Angeles
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One unit properties, i.e. single family residences including townhomes and condominiums
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No maximum purchase price limits
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Properties cannot be occupied by tenants
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Approved short sales/pays, foreclosed and REO properties and regular sales
- MIPA Program borrowers are required to purchase their own consumer home property inspection report.
Example of how this program works?
LAHD provides purchase assistance up to a maximum of $115,000. 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.
Gift/Additional Buyer Cash/Other Source$2,500| Home Purchase Price | $600,000 |
|---|---|
| Buyer’s Closing Costs: | $18,000 |
| TOTAL FUNDS NEEDED: | $618,000 |
| First Mortgage Amount | $494,500 |
| Homebuyer Down Payment (1% of purchase price) | $6,000 |
| Gift/Additional Buyer Cash/Other Source | $2,500 |
| City Purchase Assistance Loan | $115,000 |
| TOTAL FUNDS AVAILABLE: | $618,000 |
| Total City loan in the above example is $115,000. | |
How to apply
Due to limited resources, LAHD is implementing a modified loan reservation process. See below for the loan reservation schedule with the number of loan reservations per round.- Wednesday, May 28, 2025 – 21 MIPA Loan Reservations
- Wednesday, September 10, 2025 – 23 MIPA Loan Reservations
- Wednesday, January 14, 2026 – 18 MIPA Loan Reservations
- Wednesday, June 10, 2026 – 18 MIPA Loan Reservations
