Costa Mesa agency helps first-time homeowners

The Costa Mesa Redevelopment Agency has increased the maximum purchase

price and loan limit for its home-buyer assistance program to reflect the

high cost of real estate in the county.

The city is accepting applications for the Home Buyer’s Assistance

Program, a need-based program designed to help first-time homeowners

secure a down payment for a home, city officials said.

The program has increased the down payment assistance from up to

$35,000 to $40,000, in the form of a deferred second mortgage. The

Redevelopment Agency also upped the price of the house from $275,000 to

$340,000, which reflects the median purchase price in Orange County.

Applications are limited to first-time homeowners -- who have not had

ownership interest in real estate in the past three years -- and those

whose household earnings are no more than 120% of the county median for

their family size.

Information: (714) 754-4892.