When it comes to finding affordable housing, the city of Tustin, California has something special to offer: the Tustin Home Affordable Opportunity Program. The program provides qualified first-time homebuyers with an opportunity to purchase a home in the city at an affordable price.
The program was developed in response to the increasing cost of housing in Tustin, which has become one of the most expensive cities in the state. The goal is to make homeownership more accessible for those who might not otherwise be able to afford it.
The program works by offering eligible households a loan to purchase a home. The loan is available at a fixed interest rate, and the borrower must meet certain income requirements in order to qualify. The loan can cover up to 80% of the purchase price of the home, and the remaining balance must be paid by the borrower.
In addition to the loan, the program also provides other incentives to help make the purchase more affordable. These include down payment assistance and closing cost assistance, as well as a tax credit of up to $7,500.
The program is open to residents of Tustin who are looking to purchase their first home. The program has already helped many families purchase their first home, and it is an attractive option for those looking for an affordable way to become a homeowner.
For more information about the Tustin Home Affordable Opportunity Program, interested parties should contact the Tustin Housing Authority. The Housing Authority can provide information about eligibility requirements and the application process.