Second Mortgage Assistance Program
(At this time the program has been suspended)
One of the major goals of the City Council is to increase the level
of home ownership in the City of Long Beach. In furtherance of this
goal, the Long Beach Housing Development Company (LBHDC) has developed
a Second Mortgage Assistance Program (Program). This Program provides a
deferred payment second mortgage assistance loan up to $275,000 to low-
and moderate- income first-time homebuyers for the purchase of a qualified
single-family or condominium home located within of the City's Redevelopment
Project Areas.
Click here for additional
information about the Program and the qualification guidelines.
Click here for the Redevelopment
Project Area Maps
This Program is administered through select lenders pre-approved
by the LBHDC. Please contact one of our Approved Lenders to get started.
They will assist you with determining your eligibility to participate
in this program and completing an application. Although this program
requires that you use an Approved Lender, you may select the Real Estate
Agent of your choice. If you have a Real Estate Agent please have them
contact your selected Lender. If you need a Real Estate Agent please
ask your Lender for a referral.
Click Here for a
list of the Approved Lenders.
Click Here
for a list of languages spoken by Approved Lenders.
The LBHDC does not endorse any specific lender. However, it is recommended
that you discuss your homebuying needs with different lenders before
making a selection, as Lender's fees and closing costs may differ.
The California Housing Finance Agency offers low interest rate first
mortgage program and a variety of down payment assistance program to
eligible first-time homebuyers. For more information click the CalHFA
link. CalHFA programs can be used with LBHDC Home Buying Programs. For
more information please call (562) 570-6949.
Lenders Information (Lenders only - Secure Area)Click Here to view Lenders Documents
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