Affordable Housing Clearinghouse,the City of Irvine and Wells Fargo are partnering to bring you a Homebuyer Orientation on Tuesday, August 11, 2015 at the Katie Wheeler Library. This workshop will help you get started on your journey towards home ownership. We will discuss the steps to home ownership, the different types of loans as well as down payment assistance programs and resources. Seating is limited, click here to register. If you have any questions you may contact Janell Abarca or Leo Carrillo.
One-bedroom homes for sale to very-low-income homebuyers – please contact AHC for details.
The County of Orange is now providing its Mortgage Assistance Program (MAP) to first-time homebuyers. This program provides a $40,000 silent (deferred payment) downpayment assistance loan to low-income first-time homebuyers purchasing in participating cities and unincorporated areas of Orange County. For more information, please view the Orange County Mortgage Assistance Program web page.
Mr. Jack Sun, Senior VP of Cathay Bank presented a donation to AHC for the organization’s Affordable Housing Programs and Services. “Mr. Sun takes great pride of Cathay Bank’s corporate values, which address social responsibility and community reinvestment as the center of company’s business philosophy.” On behalf of AHC and the clients we serve, we thank Cathay Bank for its support.
Ms. Sandra Speed, Charitable Manager at Wells Fargo Housing Foundation and Vivian Pham, Community Development Officer provided a $50,000 Leading the Way grant to AHC for the organizations Affordable Housing Programs and Services. On behalf of staff and clients we serve, thank you to Wells Fargo Housing Foundation for your support throughout the years. We value your service on the AHC Board of Directors and our community.
The Affordable Housing Clearinghouse has received one of the first grants approved by the board of directors of the Opus Community Foundation, formed in September 2010.
Opus Bank and Opus Community Foundation announced on March 16th the foundation’s first 15 grant awards. The Opus Community Foundation was established to improve the quality of life of individuals and families living in or around Opus Bank’s communities.
The grants were awarded to nonprofits in Los Angeles County and Orange County with a focus on affordable housing, community development, education, financial literacy, or the arts. The grant supports AHC’s programs to create affordable housing.
Affordable Housing Clearinghouse is in a consortium agreement with Neighborhood Housing Services of Orange County, Orange County Community Housing Corporation, Mary Erickson Community Housing, Habitat for Humanity of Orange County, Irvine Community Land Trust, and Community Housing Resources has been awarded $7.5 million in NSP2 funds. These funds will be used in targeted areas across 129 census tracts affected by high foreclosure and vacancy risk scores.
The consortium will acquire and rehabilitate 68 foreclosed or abandoned properties for resale and rental and provide financing mechanisms, in the form of homebuyer assistance, for 45 households to purchase and rehabilitate foreclosed homes. These activities will benefit households whose income is at or below 120 percent of area median income, with 25 percent of the funds for households at or below 50 percent of area median income.
Funded through the American Recovery and Reinvestment Act of 2009, this round of NSP grants is being awarded competitively to applicants who developed the most innovative ideas to address the impact foreclosure crisis has had on local communities, while demonstrating that they have the capacity to be responsible stewards of taxpayer dollars.