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Homeownership Fair on July 15 offers assistance for prospective homebuyers

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At a press conference on June 26, FACE CEO Hyepin Im, fourth from right, explains the purpose of the homebuyer fair that will be organized by the nonprofit organization on July 15. [Sangjin Kim, The Korea Daily]
The nonprofit Faith and Community Empowerment (FACE) will hold its 26th Homeownership Fair on Saturday, July 15, from 9 a.m. to 1 p.m. at Wilshire United Methodist Church (4350 Wilshire Blvd., LA 90010).

“It is very difficult to buy a home these days,” said Hyepin Im at the press conference announcing the event on June 26. “To address these difficulties, we will introduce various special homeownership programs at this fair. I hope you can attend and fulfill your dream of owning your own home.”

The fair is a collaboration between the Los Angeles County Asian American Employees Association (LACAAEA), Los Angeles County African American Employees Association (LACAAEA), Wilshire United Methodist Church, and the Dreams Come True Foundation.

At the fair, attendees will have access to experts who can advise them on financing programs, the buying process, special bank financing products, down payment assistance, and more.

In particular, participants can receive up to $192,000 in grants from the city and county of Los Angeles, as well as banks, and obtain specific information on credit management and the home buying process.

For example, Korean American Eunice Kim received a $140,000 down payment grant through a homebuyer fair last year and moved into her San Pedro home in November.

The fair will feature 10 to 15 loan officers from 12 banks, including U.S. Bank, Bank of Hope, and Bank of America.

“First Citizen Bank has been in partnership with FACE for three years,” said Eric Asiedu, mortgage sales director of First Citizens Bank. “We will be introducing affordable loans and special programs for down payment assistance at the fair. We are also offering $30,000 to reduce interest rates.”

“I’ve seen many people who come to the bank and can’t get advice because there are only one or two loan specialists,” said Im. “I hope they can receive as much help as possible by meeting experts in various fields.”

“We will introduce programs and educate people about homeownership, so there is no need to bring any documents,” she added. “There will also be a raffle for various prizes, so please apply in advance.”

To register for the fair, visit www.facela.org.

Inquiries: (213) 985-1500

BY YEJIN KIM [support@koreadaily.com]