LATMAP Participating Lenders

Los Angeles Teachers Mortgage Assistance Program (LATMAP) serves as an informational resource for Los Angeles Unified School District employees interested in homeownership. Below is a list of LATMAP lending partners and descriptions of their homeownership assistance programs, some of which were created especially for LAUSD teachers

• Requires 5% Minimum Down Payment
• Up to $417,000 (competitive pricing)
• Debt to Income Ratios up to 50% (qualify for a bigger mortgage)
• Only $500 of your own funds - the rest of the Down Payment can come from a gift or other sources
• Eligibility for non-U.S. citizens, including permanent resident aliens and nonpermanent resident aliens
• Accidental Death and Dismemberment Insurance with premiums paid by Bank of America

Other Programs include: 

FHA                                

Requires a 3% Minimum Down Payment and financing up to $729,750 on a single family home

Conventional Loans    

Requires a 10% Minimum Down Payment and in most cases no income and asset verification if qualify

For more information, please contact Pedro Castro, Mortgage Loan Officer, at (818) 502-8769 or pedro.castro@bankofamerica.com

• Chase offers the Union Plus Mortgage designed exclusively for union members. The valuable program features cost savings at closing, and mortgage assistance if you become unemployed as a result of layoff, disability, strike or lockout.
• Chase Home Finance is the #3 lender in the nation for purchase loans.
• We offer First Time Home Buyer loans up to 100% financing with no minimum credit score through our Dreamaker Products.

Please call toll free 888-582-9526 to find out more information.

Chase Home Finance Loan Officers:

• Renalta Lee - renata.x.lee@chase.com or (310) 815-5128 or (888) 582-9526 Ext. 128
• Danielle Wigley - danielle.c.wigley@chase.com or (310) 815-5134

http://mortgage.chase.com/pages/shared/gateway.jsp

AFFORDABLE MORTGAGE PROGRAMS

Home Buyers have a wide array of programs and products to choose from including our Community Lending Programs which meet the needs of first time buyers and low-to-moderate income individuals and families.

The choices include:

• Low down payment or no down payment options
• Interest only products
• Stated income programs
• Adjustable rate mortgages
• Closing cost assistance, if borrower meets qualifying criteria
• Access to community down payment assistance programs
• Cal HFA program with special features for teachers

Homebuyer education counseling available through selected community groups.

Certain restrictions apply. Geographic, income, property and other restrictions may apply to first-time homebuyer programs.

For more information, please contact:

Jeanette Mayes, Lending Consultant, CRA Community Lending: (818) 890-4786

Email: jeanette.c.ruizmayes@citi.com

(For quicker responses, please contact Jeanette via email)

http://www.citimortgage.com/Mortgage/Home.do?td=

• Specializing in first time homebuyer's programs for teachers, administrators, and other school personnel.
• Teacher Extra Credit Program - an interest rate 1% to 1.5% below the market rate. This program also allows clients to borrow the down payment and closing costs from the state of California.
• The Teacher Next Door program utilizes the FHA 203k rehabilitation loan program. This rehabilitation program was made available to teachers in conjunction with a 50% sales price discount about 5 years ago by HUD.
• 30 years of experience dealing with FHA 203k with investors and nonprofit organizations.
• A PERS (Public Employees Retirement System) approved lender and have other excellent 100 % financing programs.

For more information, please contact:

Joseph Guzman – Loan Officer (562) 795-7331 joseph.guzman@ncmc.com

http://josephguzman.net

Economic Opportunity Mortgage 100% + Program

If you thought homeownership was out of reach, think again. Out Economic Oppotunity Mortgage 100% (EOM 100%) is designed to assist individuals with low or moderate income, or who are purchasing a home within a designated census tract. With EOM 100%, you'll enjoy:

Specialized application attention & consultation with Community Loan Officers

Affordability

• No application or lender fees (valued at $1000).
• No points at closing (one point is equivalent to one percent of the loan).
• Reduced interest rates and fees can save you thousands.

Flexibility

• Alternative credit, such as utility bills or rent payments, is perfectly acceptable.
• Unlike most FHA loans, you do not have upfront Mortgage Insurance premiums.
• Loan amount limit higher than allowed by FHA.

For more information, please contact:

Lourdes Ortiz, Community Loan Officer - (213)-972-5364

120 S. San Pedro, Suite 500, Los Angeles, CA 90012

lourdes.ortiz@uboc.com

http://www.uboc.com/wealth/main/0,,2485_3084,00.html

Vesta Capital, an independent mortgage company located in Torrance, offers the following products for Owner Occupied properties.

CalSTRS – 3% down payment options. Program allows teachers to defer up to 17% of the mortgage for 5 years with 3% down.

1. Cal – HFA for first time homebuyers and properties located in Targeted Areas.
2. CalPers - Any active or inactive public employee may use as collateral up to $18,000 of their CalPRS deferred retirement savings. Withdrawal NOT required.
3. My Community – Fannie Mae product for first-time homebuyers with less than perfect credit score.
4. Access – For first and non-first time homebuyers. Up to 98% financing.

We assist borrowers in obtaining down payments funds from City, County and State agencies. Other incentives for properties located for low- to moderate-income purchasers.

Call Ira Smith, broker, at 310-217-2500 ext. 201 for pre-qualifications, scenarios or refinance questions.

Please contact:

Ira Smith

Mortgage Broker, Vesta Capital

irasmith@vestacapitalcorp.com

http://www.vestacapitalcorp.com/

Prime Home Inspection of Los Angeles was founded in 2005, with the purpose of helping people make informed decisions about the home they're thinking of buying or selling. Since then, we have quickly established a reputation for providing our
clients (the homebuyer, seller or real estate professionals) with comprehensive inspection reports that are thorough, concise, easy to read and understand, and above all…informative. We guarantee it!

Our philosophy to inspecting a property is simple. We'll inspect it...As if we're buying it! ® And then, stand behind our work. Your satisfaction is guaranteed! How?

We give all of our clients a 100% Money Back Guarantee , if you’re not satisfied with our service then we refund your money-No questions asked. We have added additional value to our home inspection service. For most full home inspections, we can provide our clients with a 90-day homebuyer’s warranty , and if you any questions or just need some advice long after the inspection is done our consulting service via the telephone is available to you free for as long as you own the home.

For more information, please contact

Prentice Sherman

5455 Wilshire Blvd.

Los Angeles, CA 90036

(310) 869-5781

phi@primeinspect.com

www.primehomeinspection.com