Homebuyer Information

EHOP sells completely rehabilitated and new townhomes to low and moderate income families. If you are an interested homebuyer, please read the requirements and program descriptions below to see if you qualify to purchase an EHOP home.

Homebuyer Requirements:

• Must be a first time homebuyer. This means you have not claimed a deduction for mortgage interest or taxes on real property claimed as a principal residence within the past three years, unless you have been displaced by public action, or other qualified exception.
• Must intend to live in the home for at least three years.
• Household income must be at or below 120 percent of the area median income (AMI) adjusted for household size (see chart below). Some homes may be restricted to families at or below 80 percent AMI. See chart below of properties for sale for the income limit on each property.
• Must complete an 8 or 12 hour homebuyer education course from a HUD-approved homebuyer counseling agency. Certificate of completion is required.

*Subject to change without notice

Financing: First Mortgages
Enterprise Home Ownership Partners has a list of first mortgage lenders who are familiar with the EHOP program and have affordable mortgage products available for low and moderate income families.

Properties:
All of Enterprise Home Ownership Partners' homes will either be new or substantially rehabilitated, thereby reducing the risk of expensive home repairs for homeowners. The completed homes will be energy efficient and will have 3 bedrooms and 2 baths whenever possible to meet the needs of larger families. Homes will be available for purchase in South and Central Los Angeles.

Steps to Buying an EHOP Home:

• Complete a homebuyer education course through a HUD-approved counseling agency.
• Become approved or pre-approved for a first mortgage.
• Locate an EHOP property you are interested in purchasing and contact the listing agent.