The LACDA’s HOP80 and HOP150 Home Ownership Programs provide a second mortgage loan for first-time homebuyers.  HOP80 and HOP150 offer assistance up to $100,000, or 20% of the purchase price, whichever is less.   The loan provides down payment and/or closing assistance and is secured with a Deed of Trust and Promissory Note.

The loans accrue 0% interest with deferred repayment and shared equity. When the home is sold, there is a transfer of title, or the home is no longer owner-occupied, the homebuyer repays the loan, plus a share of the appreciation..

To qualify, a homebuyer must be income eligible, not have owned a home in the last three years, and the home must be owner-occupied.

If you are a first-time homebuyer interested in applying for a HOP80 or HOP150 loan, contact a HOP participating lender to get pre-qualified.

Only a HOP participating lender can submit a HOP application on your behalf.

HOP applications will be accepted on a first-come, first-served basis.