Submitting Offers 

Enterprise Home Ownership Partners (EHOP) serves low- and moderate-income families by helping them achieve long-term homeownership. Therefore, prior to accepting a purchase offer, EHOP will review Buyer's information as well as the terms of Buyer's financing to ensure that the offer meets the goals of the Program.

What to Include in the Purchase Offer:
The following information must be submitted in the following manner. Purchase offers without the full information will be deemed incomplete and EHOP will be unable to consider the purchase offer until that information is received.

1.  CAR "Residential Purchase Agreement" (must be the most recent version)

2.  Completed EHOP Purchase Offer Coversheet (to download EHOP Purchase Offer Coversheet click here). *You must have Adobe Acrobat Reader 5.0 or above to download this page. If you do not have Adobe Acrobat Reader 5.0 or above, click here to download a free copy of Adobe Acrobat Reader.

3.  Approval or Pre-approval from 1st mortgage lender

• must be based on review of credit & income verification
• must include name and phone number of loan officer
• if Buyer is not applying for a soft-second loan the following information must also be included:
  • Annual Income
  • Interest Rate and Points
  • Monthly Debt

4.  If the Buyer's Lender is not a preferred Lender, a Good Faith Estimate must be submitted.

5.  If Buyer is applying for a soft-second loan a LAHD Soft-second Worksheet completed by 1st mortgage lender must be attached.

• must be completed and signed by the first mortgage lender
• loan officer must be approved by LAHD to submit loan applications. (Click here to see a list of LAHD approved loan officers)
• loan officers who wish to be approved by LAHD should contact Gloria Ortiz at (213) 808-8587.

6.  Evidence of deposit in the amount of 1 percent of the sales price.

The following information does not have to be submitted before EHOP will consider an offer, but it may increase the likelihood that the offer will be accepted:

1.   Evidence of downpayment and closing costs

2.   Certificate of Completion from a HUD approved Counseling Agency

How offers are selected:
EHOP will select the offer that best indicates ability to close in a timely fashion. In addition, EHOP prefers offers that have the following characteristics. EHOP may select offers that do not meet these criteria, however, when selecting between multiple offers, the offer that most closely resembles the offer outlined below will be selected:

• Back end ratio of 40 percent or less
• 30 year fixed first mortgage with competitive interest rate
• First mortgage that does not require FHA insurance
• First mortgage is already conditionally approved
• Evidence of funds available for downpayment and closing costs

If multiple offers have been submitted and are equal in meeting the above preferences, the primary offer will be selected by lottery and the other offers will be accepted as back up offers.

Back up Offers:

1.  EHOP will select 2 back up offers for each property. 

2.  Every offer that EHOP accepts will be contingent upon the buyer providing specific information to EHOP within 17 calendar days of offer acceptance.

• Homebuyers who are obtaining soft second loans must have their lender submit a complete LAHD Soft Second application to EHOP. 

• Homebuyers not obtaining soft-second loans must submit income documentation, evidence of funds and a conditional loan approval.  

3.  Homebuyers who do not meet these time frames will have escrows cancelled and EHOP will accept the back up offer.