The County of Orange released a Single Family Affordable Rental Housing Program Notice of Funding Availability (NOFA) on September 19, 2013 which provided $2.5 million in funding available for theacquisition/rehabilitation of single-family 3-bedroom or higher dwelling units, duplexes, triplexes and/or fourplexes for affordable rental housing.
Funds were available on a first-come first-serve basis, based on the criteria set forth in the NOFA, until the NOFA closed or until all funds were committed, whichever occurred first.
The County has received funding requests in excess of the amount available under the NOFA and the NOFA is now closed. In the event funds become available under the NOFA in the future, the County will provide additional notice of such.
Kevin Fincher Housing Development Administrator OC Community Services 1770 N. Broadway Santa Ana, CA 92706 firstname.lastname@example.org 714-480-2994
Announcement – Mortgage Assistance Program is Reopening!!!
The County’s Mortgage Assistance Program (MAP) provides silent (deferred payment) downpayment assistance loans to assist low-income first-time homebuyers (FTHB). Eligible FTHB’s annual income must not exceed 80% of the Area Median Income (AMI). The loans are designed to help with the down payment to purchase a home. The 3% simple interest, deferred payment loan has a 30 year term and a maximum loan amount of $40,000. Homebuyers must occupy the property as their primary residence. There is a 1% minimum down payment requirement for this program and the total sales prices shall not exceed 85% of the Orange County median sales price for all homes, which as of May 2013 is $459,000 (85% of $540,000). All applicants are required to attend a homebuyer education workshop.
If you are interested in the obtaining more information or an application for the MAP program, please contact our administration for the program, Affordable Housing Clearinghouse at (949) 859-9255 or view their website at www.affordable-housing.org.