Affordable Housing Program Los Angeles

The city of Los Angeles has many different Affordable Housing Programs and we will go over each of them and provide the resources necessary for you to get the help you need.

Los Angeles Housing Department’s Accessible Housing Program

Los Angeles Housing Department (LAHD), is committed to providing affordable housing for people with disabilities. This was done with the assistance of the City and/or former Community Redevelopment Agency/Los Angeles. The City’s Accessible housing Program (AcHP) promotes, monitors, and enforces equal opportunity for people with disabilities to rent and use this housing.

AcHP includes all new and existing affordable housing. These developments are called Covered housing developments. The City requires that these developments adopt standard rental housing policies in accordance with federal and state fair housing laws as well as the Americans with Disabilities Act. Physical accessibility means that there are at least two units with the necessary features for people with disabilities.

Low Income Purchase Assistance Program

The Low Income Purchase Assistance Program helps first-time, low-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.
• 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

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 a 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
• If eligible, applicants who apply for this program may also be required to apply for the Mortgage Credit Certificate Program (MCC)

Loan Amount

We provide a loan of up to $140,000 for a down payment, closing costs, and acquisition.

Home purchase price limit

• Single Family Homes: $973,750
• Condominiums & Townhomes: $593,750

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 the 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
• Properties cannot be tenant occupied unless the tenant is the prospective homebuyer
• 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.

Los Angeles Section 8 and Public Housing

The Section 8 program is financed by the U.S. Department of Housing and Urban Development (HUD) to provide rent subsidies in the form of housing assistance payments (HAP) to private Landlords on behalf of extremely low, very low-income individuals/families, senior citizens, and persons with disabilities.

HACLA paid more $603 million to private Landlords for more than 43,700 participant families. The difference between the Landlord’s actual rent and the amount that the program has subsidized is then paid by the family.

A housing voucher issued to a family is responsible for finding the right housing unit. The owner must agree to rent the property under the program. After a family has selected a housing unit, the HACLA approves it and signs a lease agreement with the Landlord. This lease lasts at least one year.

The more than 13400 private landlords are responsible for providing decent, safe, and sanitary housing for tenants at a reasonable rental rate. As long as the Owner receives assistance, the unit must meet the housing quality standards.

To view or list units that are available to you as a Section 8 Program participant or landlord, click Property Listings.

Resources:

Los Angeles Housing Department