Notice of Department Realignment
	Please be advised that in September, 2009, the Glendale City Council approved the realignment of the functions and responsibilities of the Community Development and Housing Department into three new, reformulated departments in order to improve service delivery to the community through coordination of programs and staff. This realignment and transfer of functions and responsibilities is effective as of January 1, 2010. The former Community Development and Housing divisions and their new respective departments are noted below:

	Division Housing Division Neighborhood Services Community Development Block Grant Workforce Development	New Department Community Redevelopment and Housing Community Planning Community Services and Parks Community Services and Parks

	Over the next few months, the WebPages for the new departments will be changing to reflect the reorganization. At some point in the near future, the webpage for the Community Development and Housing Department will be discontinued and viewers will be redirected.
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First Time Homebuyer Program

This program is intended for families that do not intend to sell their home in the first 5 years of ownership and will live in the home they purchase.

Program Features

Assists First Time Home Buyers to purchase an entry level home, such as a condominium or town home, in the City of Glendale.
Increases "buying power" through a 2nd mortgage loan up to $75,000 (based upon need.)
This is a 0% loan, with no monthly payments.
The maximum purchase price is determined individually for each buyer.
First Time Buyer will pay only 28% - 35% of their monthly income for housing costs.
The loan is forgiven after 45 years. The home owner may pay back the loan any time before that if they wish. The loan must be repaid if the home is sold or transferred. Loan repayment includes the original amount and a percentage of the increased value of the home, if there is one. (Many sales costs, the cost of capital improvements and all down payment and principal repayments are subtracted from the increased value before the amount of profit to be shared with the City is determined.)

Program Requirements

Maximum Moderate Income limits apply.
Assists First Time Home Buyers who have not owned a home in the last 3 years.
Borrowers need to live in the home (until the loan is paid off or forgiven.)
A minimum 5% (of the purchase price) down payment is needed. A minimum 3% needs to be from the buyer’s own funds and a minimum 2% may be a gift or grant.
The borrower needs to qualify for and obtain a 1st mortgage loan through Chase Bank.
A home buyer education certificate from an approved agency is required. Call the number above to sign up for classes.

Please review Summary of First Time Home Buyer Program Eligibility Requirements for full program details.

Please click here to get additional information about the First Time Homebuyer Class.

Last modified: Friday, August 07, 2009 3:08:20 PM