Long Beach has introduced a First-Time Homebuyer Assistance Program to help low and moderate-income families buy their first home. The program offers a grant of up to $25,000 for up to 100 eligible households, with several requirements including applicants being over 18 years old, not having owned a principal residence in the past three years, being a first-generation homebuyer, and currently being a resident of Long Beach. The grant can only be used towards down payments, non-recurring closing costs, and buying down their mortgage interest rates. Qualified applicants must agree to occupy the home as their primary residence for a minimum of five years. The program is part of Long Beach’s commitment to making homeownership more attainable.
Keywords: Long Beach, First-Time Homebuyer Assistance Program, low and moderate-income families, homeownership, grant.
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