Brea, CA - Homebuyer Assistance Program
By Adam Brett, The Adam and Eric Group, Fullerton's Finest
(The Adam and Eric Group)
The city of Brea has several housing program designed to help people with low to moderate incomes. These programs will assist you with purchasing a home, renting a home, or rehabilitation of your current home. Homebuyers Assistance Program This program provides up to $225,000 in financial assistance to qualified applicants to purchase a home in Brea. The Agency no-interest loan is recorded as a second mortgage on the property with no payments for the first five years and principal only payments in years six through thirty. If the home is sold, the Agency receives a portion of the equity in place of interest. To participate, applicants must be able to pay at least three percent of the purchase price toward the down payment and related closing costs - a minimum of $10,000. Additionall...
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