City Bonds Available for Buyers in Ontario

Adjustable Rate

Manhattan Village, on Marine Avenue and entered from either Gateway or Portsmouth Drive, Manhattan Beach, offers 30-year adjustable-rate loans starting at 9 7/8%, according to Coast Realty, the sales agent. Prices range from $210,000 to $470,000 for three housing types in the collaborative project of Coast Construction Co. Inc. and Pacific Coast Homes, and models are open from 10 a.m. to 5 p.m. daily except Fridays.

Bonus Offered

Buyers of the final 10 homes in Phase 1 of Upland Vistas will have a $6,000-bonus added to all down payments of 5% or more on a 30-year, fixed-rate loan. Prices start at $119,500. The models are open daily from 10 a.m. to 5 p.m. at Benson Avenue and Arrow Highway, Upland.

Buy-Down Option

Le Park in Simi Valley offers 30-year loans at a fixed 10.99%- interest rate with a 5% down payment to buyers who qualify with income under the ceiling who have not owned a home within the past three years. A buy-down option lowers the rate 2% the first year and 1% the second. Additionally, there are VA and FHA programs. The developer is EPAC Development of Long Beach; homes in five floor plans have one or two bedrooms or two bedrooms plus den/loft in 733 to 1130 square feet are priced from $62,990 to $99,990. There will be 264 homes when all three phases are complete.

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