First Time Homebuyer Program

The City of Inglewood is seeking qualified first-time homebuyers to purchase four single-family homes located in Inglewood and Hawthorne, California under the Neighborhood Stabilization Program.  All homes must be sold and occupied by February of 2013 and the following properties are available for sale:

• 8708 Edmonton Place, Inglewood, CA 90305

• 926 South Inglewood Avenue, Inglewood, CA 90301

• 2314 West 111th Street, Inglewood, CA 90303

• 14052 Lemoli Avenue; Hawthorne, CA 90250

The City is seeking pre-qualified first-time homebuyers who meet the following income eligibility standards of 120% of the Area Median Income limits for Los Angeles County:

Household Size

Moderate Income 120%

1
$69,550 or less
2
$79,500 or less
3
$89,400 or less
4
$99,350 or less
5
$107,300 or less
6
$115,250 or less
7
$123,200 or less
8
$131,150 or less

Source:  Neighborhood Stabilization Program Income Limits, http://www.huduser.org/portal/datasets/NSP.html (effective May 2010)

In an effort to make the homes more affordable, each qualified homebuyer may be eligible to receive a Deferred-Silent Second Trust Deed of $150,000 from the City to be applied toward the cost of the home.  To qualify for this program, each applicant must:

  1. Be a first-time homebuyer, who has not owned or purchased a home during the last three years.
  2. Qualify as Low/Moderate/Middle-Income for the Los Angeles-Long Beach Metropolitan Statistical Area and provide certified documentation that they do not exceed the household income eligibility requirements of 120% AMI. 
  3. Have completed at least eight-hours of homebuyer education credits offered through a certified HUD approved Housing Counseling Agency.  You may click here for a sample listing of local housing counseling agencies; or for a comprehensive listing of housing counseling agencies, visit the official HUD website at http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm, or call HUD's interactive voice system at: (800) 569-4287.
  4. Be currently pre-approved for a home loan of at least $200,000.  Prior to program acceptance, a homebuyer must provide evidence of financing for the maximum amount the Primary Lender is willing to loan (the “primary loan”).

For more information, please click to review the “City of Inglewood Neighborhood Stabilization Program Homebuyer Assistance Program Guidelines”.  For additional information or to request a copy of the Homebuyer Guidelines, call the CDBG Division at (310) 412-8844.