GLENDALE : City Workshops Set on Home Buyer Plan
Officials have announced a series of workshops to brief those interested in participating in a first-time home buyer program provided by the city of Glendale in conjunction with Coast Federal Bank.
The city has received more than 600 inquiries about the program since its debut in early May. The program is designed to help moderate-income Glendale residents purchase a starter home, condominium or townhome.
As part of the offer, Coast Federal Bank provides the first mortgage on the home, with the city providing a second mortgage to bridge the gap between the first loan and the home’s price.
The maximum home purchase price eligible for the program is $200,000 for a condominium and $250,000 for a home or townhouse.
Single people making no more than $40,550 a year, couples bringing in less than $46,350 annually and a family of three earning no more than $52,150 per year are eligible to apply for assistance from the program.
The city will hold a public lottery at the end of June to determine each applicant’s standing.
Workshops discussing the program will be held from 7 to 9 p.m. Wednesday, and from 7 to 9 p.m. June 15. All seminars will be held at the Central Library Auditorium, 222 E. Harvard St. To register for a workshop call the Department of Community Development and Housing at 818-548-3936.
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