Affordable Homeownership: New Funding for LA's MIPA Program

The Los Angeles Housing Department’s Mortgage Interest Payment Assistance (MIPA) program is back with new funding! Previously out of funds, the program has now received an allocation of $4.1 million to assist first-time, moderate-income homebuyers. This is a fantastic opportunity for those looking to achieve their dream of affordable homeownership.⁠
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Key Benefits of the MIPA Program:⁠
• Loan of up to $115,000 for down payment, closing costs, and additional purchase assistance⁠
• Deferred payment (no monthly payments)⁠
• Shared appreciation⁠
• Zero percent interest⁠

Eligibility Features:⁠
⁠• First-time homebuyer⁠
• Total household income within maximum program limits⁠
• 1-unit properties such as single-family homes, condos, and townhomes⁠
• Property must be located in the City of Los Angeles⁠
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Did you know that parts of the South Bay are considered Los Angeles City? This includes parts of Torrance, parts of Gardena, Wilmington, San Pedro, and Harbor City.⁠
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One of our clients recently used the MIPA program to purchase his first home in Wilmington. He combined this program with another that provided an additional grant for $20,000 and secured a super competitive interest rate. This shows how powerful these programs can be in turning the dream of affordable homeownership into a reality.⁠
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We love helping our community stay informed about valuable resources like the MIPA program.

If you or someone you know could benefit from this assistance, please reach out for more information and let us help you take the first step toward owning your dream home.

Contact Us:

Yoshiko Oest
Phone: 310-564-8810
Email: [email protected]
DRE: 01493192

Russell Nomura
Phone: 310-846-8482
Email: [email protected]
DRE: 02118130