Home Purchase/Mortgage Refinance Loans

The program provides housing services for people who live in La Mirada. Services include a home improvement loan program and a homeownership program. Depending on the program, some loans are secured by a deed of trust against the property in the amount of the loan. Geographic restrictions apply for some programs; there are no geographic restrictions for the homeownership program. 

The Home Improvement Program (HIP) provides deferred loans for up to $35,000 with a 3% interest. Loans are available to property owners who are unable to qualify for a conventional bank loan due to limited income. Applicants for the deferred loan programs must meet the program's income limits. A participant in these deferred loan programs do not need to repay the loan until the property is refinanced or sold or there is a transfer of ownership; the total loan and interest must be repaid at that time. Eligible improvements are limited to code compliance and improvement of deteriorating house conditions.