Long Beach launches first-time Homebuyer Assistance Program

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home-ownership First-Time Homebuyer Assistance ProgramThe City of Long Beach is launching an innovative homebuyer financial assistance program.  The Neighborhood Stabilization Program 2 (NSP2) First-Time Homebuyer Assistance Program will provide up to $200,000 in silent second mortgage loans to assist qualified first-time homebuyers in purchasing a home.  Participants may also qualify for up to $40,000 in grant funding to fix code-related violations, make energy-efficiency improvements and assist with closing costs.

“This is an incredible opportunity for first-time homebuyers to realize the dream of homeownership,” said Dale Hutchinson, Housing Operations Officer for the City of Long Beach. “Participants in the Program not only get financial assistance, but also help with navigating the home buying process, finding reputable lenders and realtors, and locating homes for their families.”

To introduce the NSP2 Program, the City of Long Beach is hosting a special kick-off event on Saturday June 19, 2010, from 10:00 am to 12:00 pm. The event will take place at The Grand Long Beach Event Center, 4101 E. Willow St., in Long Beach, and is open to all members of the community. Free onsite parking is available.

“This event is a great way to learn about the NSP2 Program first-hand, thus, attendance to the kick-off event is a requirement to be able to participate in the First-time Homebuyer Assistance Program,” said Hutchinson. “Attendees can find out information about the Program requirements and the homebuying process. They can ask questions and get answers on the spot. If you’re looking for a home, this event is the best place to start.”

Residents interested in attending the Neighborhood Stabilization Program 2 kick-off event are asked to RSVP at 562.570.6949.

Event Information:
NSP2 First-Time Homebuyers Assistance Program Kick-Off Event
June 19, 2010
10:00 am – 12:00 pm
The Grand Long Beach Event Center
4104 E. Willow St.
Long Beach, CA
Free Parking Available
RSVP at 562.570.6949

About the City of Long Beach, Department of Community Development
The Community Development Department seeks to advance Long Beach and its people by proactively enhancing and maintaining housing opportunities; promoting quality neighborhoods and caring neighbors; and encouraging a strong economic base through job development and employer support. For more information, visit the City of Long Beach website or call 562.570.6841.

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