The MCC program is available throughout Los Angeles. Since the program was started in June, 1994, about 20 certificates have been issued.
The city also has certain target areas identified by the IRS where applicants are not required to be first-time buyers.
Eligibility requirements and income limits are the same as those for Los Angeles County. (See accompanying story). Buyers may pay up to $226,350 for new homes or $276,650 in targeted areas. Buyers can purchase resale houses costing as much as $227,592, while $278,169 is the limit in targeted areas.
Potential home buyers may call the city Housing Department at (213) 847-7368, or toll-free (800) 994-4444 from San Pedro or the San Fernando Valley to request a list of participating lenders.