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Homeownership Resources
Nonprofit Resources
Community Financial Resource Center
A community development financial institution providing
innovative business lending, technical assistance, and homeownership programs
to low and moderate-income residents and businesses that serve disinvested
communities in Los Angeles County.
Need Office Space? We Can Help! The Community Financial Resource Center has office space available at reasonable rates. For more information please contact Becky Lynch at blynch@cfrc.net or 323.233.1900.
Programs/Products Offered
- Savvy, Sound and Safe Home Loan Program
The Savvy, Sound and Safe Home Loan Program (SSSHLP) offers 105% purchase home loans for little money down, with affordable rates, and easier qualification for deserving wage earners whom the lending industry will typically turn down or charge excessive fees. (1-800-416-6204 - www.savvysoundandsafe.org)
Opportunity One-Stop Home Loan Program
- Fixed rate with 30 year term
- Minimum borrower contribution of $500 from personal funds
- Flexible credit guidelines
- Flexible income source requirements
- Additional benefits/flexibilities for teachers, firefighters, police officers, healthcare workers, and military personnel
- Free ongoing assistance and counseling with loan officer
- 100% LTV with credit score of 620, 97% LTV with credit score of 600
- Property must be owner occupied
- Complete online homebuyer education after loan close
- Early delinquency counseling
Opportunity Extra Credit Home Loan Program
- Fixed rate with 30 year term
- Minimum borrower contribution of $500 from personal funds
- Flexible credit guidelines
- Flexible income source requirements
- Additional benefits/flexibilities for teachers, firefighters, police officers, healthcare workers, and military personnel
- Free ongoing assistance and counseling with loan officer 100% LTV
- Property must be owner occupied
- Complete online homebuyer education after loan close
- Early delinquency counseling
- Credit score less than 620 requires four alternative tradelines
- BIZTECH -
CFRC offers an instructional computer workshop series in a user-friendly computer lab. Participants learn a variety of the most widely used software applications and basic computing skills. Workshops are offered in English and Spanish. Topics Include:
- PC Basics – The Nuts and Bolts of Business Computing
- Email - Introduction to the internet
- MS Word I – Flyers & Brochures
- MS Word II – Flyers & Brochures
- MS Excel I – Managing Your Money with Spreadsheets
- MS Excel II – Managing Your Money with Spreadsheets
- MS Power - Point Presentation
- MS Access – Database
- Cost $5 per class.
- CFRC Capital Partners Program -
Micro-Loan Program
A comprehensive program that offers loans, business training and education, group support, and networking opportunities to self-employed business owners and entrepreneurs with limited access to working capital. Individuals must complete both the business orientation and the required technical assistance training modules by working together in groups of 3-5 participants. Loans are offered in graduated amounts from $500 to 5,000. The program is available to both start-up and existing businesses.
- SEED Loan Program -loan for businesses in operation one year or more ($5,001-$30,000)
- Small Expansion Loan Program - loan for businesses in operation three years or more ($30,001 - $250,000)
- Individual Development Accounts Los Angeles (IDA/LA) - matched savings program to assist low-income individuals develop assets.
- Los Angeles Teachers Mortgage Assistance Program (LATMAP) - to assist LAUSD employees purchase homes.
- Financial Literacy Workshops (English and Spanish) - classes to improve people's short-term and long-term financial outlook.
Website
www.cfrc.net
Contact Information
4060 South Figueroa Street
Los Angeles CA 90037
(323) 233-1900
ByDesign Financials Solutions (formerly Consumer Credit Counseling Service of Los Angeles)
Helps individuals manage and absolve consumer debt, including budget outlines and repayment plans.
Counseling site located at Community Financial Resource Center's Los Angeles office.
Programs/Products
Offered
- Internet counseling
- Budget counseling
- Phone counseling
- Educational workshops
- Debt management plan
- Personal Finance Plan
- Housing services
- Debt test
Website
http://www.bydesignsolutions.org
Contact Information
Main Office:
5628 East Slauson Avenue
Commerce, CA 90040
Phone: (800) 750-2227
Customer service hours are (Pacific Standard Time)
8:00 a.m. to 7:00 p.m. Monday - Thursday
8:00 a.m. to 5:00 p.m. on Friday
8:00 a.m. to noon on Saturday
Closed Sunday.
Los Angeles Neighborhood Housing Services
Improves and restores the LANHS neighborhoods primarily
for the benefit of the neighborhood residents and promotes reinvestment by
providing decent housing that is affordable to low and moderate income persons.
Programs/Products Offered
- Home Loans
- Home Improvement Loans
Website
http://www.lanhs.org/
Contact Information
For more information please call 1-888-89-LA-NHS for Southern California Residents only.
Fannie Mae Foundation
Creates affordable homeownership and housing opportunities through innovative
partnerships and initiatives that build healthy, vibrant communities across the
United States.
Programs/Products Offered
- Home buying Guides
- Homeownership Education Programs
Website
http://www.fanniemaefoundation.org/index.shtml
Contact Information
135 N. Los Robles Ave.
Suite 300
Pasadena, CA 91101-1707
626-396-5310
Fax: 626-396-5536
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