ORANGE : Low-Interest Home Loans Are Available
Loans of up to $22,500 are available to first-time home buyers through the Orange Redevelopment Agency.
Qualified applicants may receive up to 10% of the purchase price of a new home.
The interest rate is 8%, and the loan must be repaid within five years.
Borrowers must be buying a home in the city of Orange and have a good credit rating, loan officer Cherene Sandridge said.
Applicants may not make more than 120% of the median income for Orange County.
The maximum allowable income for a family of four would be about $60,000.
Applications take about 30 days to process. For more information, call (714) 771-2315.
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