21st Century Home Loan - Long Beach, CA - 562-984-6280
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Long Beach Neighborhood Stabilization Program - Page 3

Borrower Eligibility Requirements:
  • First Time Homebuyer: Borrower must meet the following first time buyer requirements:

    • Persons who have not owned a home in the last three years.

    • Persons who previously owned a home with his or her spouse but no longer hold title due to divorce.

  • Household Income: Projected annual income of all adult members of Borrowers household cannot exceed the following thresholds (adjusted annually according to the HUD income schedule in effect at time of application):
  • NSP2 Household Income Requirements

  • Long Beach Resident or Employee: Preference will be given to Borrowers that currently live or work in Long Beach or show evidence of a job offer in Long Beach.

  • Down Payment: Borrower must contribute at least 1% of the purchase price from their personal funds that have been in their account(s) for a minimum of 60 days. Subject to approval by the first trust deed lender, Borrower's down payment in excess of the required 1% may consist of any combination of gifts or grants.

  • Financial Capacity: Borrower must qualify for a 30-year fixed rate, first trust deed mortgage, in an amount not less than 50% of the purchase price, from an institutional lender approved by the City. Cosigners who will not reside in the property are nor permitted. Borrowers must have an amount equivalent to 2 months of housing costs in their account(s) prior to the close of escrow.
  • For more information about the NSP2 Program give 21st Century Home Loan a call today at (562) 984-6280 for more information.

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Southern California Refinance & Home Loan Lender

"We Are Your Southern California Lender!"

21st Century Home Loan - We Are Your Southern California Lender!

Proudly Serving Long Beach, Naples, Belmont Shore, Signal Hill, Seal Beach and the surrounding areas.

21st Century Home Loan
834 E. 4th St. #A
Long Beach, CA 90802
(562) 984-6280

21st Century Home Loan specializes in FHA Loans, Reverse Mortgages, CHF Access, Fannie Mae & Freddie Mac,
Jumbo Loans, VA Assistance and Down Payment Assistance .

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