Korean-American nonprofit Shalom Center will host its 26th home-buying information exhibit on March 25 from 10:30 a.m. in Buena Park’s Holiday Inn.
Various programs will be introduced to the event’s attendees. Some of those programs include the Low Income Purchase Assistance (LIPA), a city-run program for the low-income residents, as well as the MyHome program and other support systems offered by the city governments of Cypress, La Palma, Buena Park and Anaheim.
LIPA is a program that finances a loan of up to $60,000 for homebuyers with no interest. MyHome also assists 5 percent of homes that cost less than $600,000. Orange County residents can benefit from this program, combined with the Zero Interest Program (ZIP), which provides 3.5 percent of the total cost of the home, which means that the total assistance could rise up to 8.5 percent.
Another loan program, which grants home-buying with no mortgage insurance for buyers whose down payment is less than 3 percent of the total cost.
Information on other programs, such as Unemployed Mortgage Assistance and Principal Reduction Program, will be offered at the exhibit.
“You could minimize the burden of buying your first home when you use the state and city government-run programs,” said Shalom Center director Ji-rak Lee. “The upcoming exhibit will introduce a variety of programs that many Korean-Americans can utilize.”
▶ Location: Buena Park Holiday Inn (7000 Beach Blvd., Buena Park)
▶ Time: March 25, 10:30 a.m. to 2:30 p.m.
▶ Inquiry: 213-380-3700
By Hyun Woo Kim