Merrill Lynch to Aid First-Time Home Buyers

Merrill Lynch & Co. said Monday it will provide grants totaling $125,000 to help first-time home buyers with down payments or closing costs on Southland homes. The grants will come in $1,000 increments.

About $70,000 in grants will be distributed through the Affordable Housing Clearinghouse in Lake Forest for potential buyers in Orange County and the Inland Empire. The remaining $55,000 will be channeled through the Los Angeles Neighborhood Housing Services for those buying Los Angeles County homes.