MHDC FIRST TIME HOMEBUYER AND
The MHDC Homebuyer Education program is
comprehensive it includes one on one counseling to prepare
client to be mortgage ready, credit and budget counseling,
and a mandatory 8 hour HUD approved Homebuyer Education
The 8 hour Homebuyer Education Class is
offered in both English and Spanish. Held once a month on
Saturdays, the class covers all aspects of the Home buying
process, from qualifying to closing.
Guest speakers from the industry are invited
to provide “Expert” presentations on their role in the
homebuying process. Registration is required. Visit
our website for a class schedule.
MHDC HOMEBUYER EDUCATION COURSES
Covers the basics on the following topics:
Budgeting and savings
Credit and credit repair
Understanding home equity
Predatory lending and fraud prevention
Home Maintenance and energy efficiency
Classes held twice-monthly from 8:30am-5pm
on Saturday. We accommodate religious observations.
MHDC FINANCIAL LITERACY TRAINING PROGRAM
MHDC offers additional courses that assist
families with the financial planning, budgeting, and goal
setting. Please contact MHDC for a list of course
options and schedules. The following courses are
available on site and in various community forums and
CALHOME MORTGAGE LOAN ASSISTANCE PROGRAM
Funds awarded by the State of California
Department of Housing and Community Development are provided
as second mortgage loans to first-time homebuyers of low and
very low-income means.
Must be low or very low income;
Home purchase must be in LA County;
Must attend MHDC homebuyer class $50.00 per
attendee scholarships are available for very low
Maximum loan amount $55,000;
Fico score must be 620 or better;
Must not have had ownership interest in
residential real estate within
last three years;
Minimum down payment equal to 3% of the sales
price, which the amount shall be contributed
from the borrower's personal resources or amount
may be gifted.
2014 CAL HOME QUALIFYING
Household Size Income
MHDC SECOND MORTGAGE LOAN PROGRAM
Second mortgage loans are available to first
time homebuyers of low to moderate-income means.
Purchase of homes must be in the City of Montebello, from
open Market inventory and within a specific price range
Loans of up to $30,000.00 are available.
Second mortgage loan assistance cannot exceed
20% of the purchase price of the property; and
Amount of the property purchased must meet
amount as appraised by a California
State-licensed appraiser, using comparable
MHDC is a HUD approved foreclosure
prevention counseling agency. Our counselors are trained and
certified to serve as an intermediary between the client and
lender to reach an acceptable resolution to your situation.
This may include forbearance, loan modification, workout
plans, short sale or deed in lieu of. If you are
facing foreclosure contact a counselor today at
323-722-3955, our services are free of charge. Ask for
MHDC CORPORATE HOMEOWNERSHIP SEMINARS
MHDC’s Corporate Homeownership Seminars are
available to employers. Employers can work with MHDC staff
in an effort to facilitate presentations to their employees.
Seminars are focused on providing information to employees
on the many homeownership programs available in the local
tri-counties area Los Angeles, Riverside and San Bernardino
communities. Employers, interested in providing their
employees with this type of information, can contact MHDC
who will provide this seminar to your company or
organization. The program is presented at no cost to the
MHDC YOUTH MENTORS PROGRAM
MHDC provides an annual youth mentorship
program the provides life skills training and education.
Students learn the importance of goal setting, budgeting,
wage earning, and higher education. Participants are
given life skills that help them determine what goals are
best for them and then how to implement those goals, life
skill include applying for a job, resume writing, interview
skills and what employers expect from employees. For
more information about the MHDC Youther Mentors Program
contact Stephanie Serrano at 323-722-3955 and ask about an
application to participate.
MHDC TRADE SHOWS & EXHIBITS
MHDC participates in various trades shows
and exhibits providing information on its programs and
services. Our participation is not limited to large events.
We look forward to participating at events hosted by service
groups, churches, community-based organizations, education
and government institutions.
MHDC ACQUISITION AND REHAB PROGRAM
MHDC is a Chase Bank Community Reinvestment
and Partnership Program and occassionally receives
properties donated throughout the California area.
These properties are rehabbed and made available to low and
moderate income buyers. If you are interested in a
property through this MHDC Chase Bank Program, please
contact Vera Morales at 323-722-3955 for more information.
MHDC DEVELOPMENT PROGRAM
MHDC also builds housing in the tri-counties
(Los Angeles, Riverside, and San Bernardino) areas and is
currently developing a four home development project in
Montebello for Veterans. Some MHDC properties may be
leased out and are available in the Fresno, Clear Lake, and
Cobb County areas of California. Please contact Jaime
Legaspi at 323-722-3955 for more information.