The City of Santa Clarita is inviting local residents to attend informational meetings on its first-time homebuyer program, called FirstHOME. The meetings will be held on Saturday, August 28, 2010 from 9 a.m. to 11 a.m. and from 11 a.m. to 1 p.m. Meetings will also be held on Wednesday, September 1, 2010 from 12 noon to 2 p.m. and from 7 p.m. to 9 p.m. All meetings will be held in the Century Room at City Hall, located at 23920 Valencia Boulevard, first floor.

Made possible via a grant from the State’s Department of Housing and Community Development, FirstHOME assists eligible low and moderate income families in purchasing their first home. The program offers a low-interest, deferred-payment second mortgage to be used as a down payment on a home inside the City limits. Because funding is limited, the City will hold a lottery to offer the opportunity to apply for the program. At least one buyer from each household must attend one of the meetings in order to be eligible for the lottery.

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“Anyone looking to purchase a home in Santa Clarita is eligible to apply for the program. Applicants who have lived or worked inside City limits for at least the last six months will be given priority in the lottery,” explains Mayor Laurene Weste.

Homes purchased through the program may be single family or condominiums. Loans can not exceed 50 percent of the sale price of the home. Additional limits on the number of bedrooms and total loan amounts also apply.

For more information about the City’s FirstHOME program, including eligibility requirements, call (661) 286-4141 or visit www.Santa-Clarita.com/housing and click the “FirstHOME” logo at the bottom of the page.