First-Timers Can Get No-Interest Home Loans

From Times Wire Reports

First-time home buyers with incomes below the city median may qualify for an interest-free loan. City officials will begin taking applications in July for loans up to $45,000 for people who live or work in the city. Others who want to buy in Fullerton can apply in September.

Under the Downpayment Assistance Program, buyers are expected to make a 3% down payment. No payments on the loan are required the first 15 years, and the next 15 require payments on the principal only.

Information: Housing Programs Office, (714) 738-6883.

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