El Monte : Home-Buyer Bonds Offered

The El Monte-Downey-San Jacinto Finance Agency has announced that it is making available $3 million in bond financing for first-time home buyers in El Monte. The agency is offering 30-year fixed rate mortgage loans at 9.9% interest, El Monte City Atty. Sidney Maleck said. The El Monte-Downey-San Jacinto Finance Agency is a joint powers agency set up to handle the issuance of $21 million in mortgage revenue bonds by the cities of El Monte, Downey and San Jacinto.