What is a Targeted Area?

Areas that are “targeted” by the Federal Government were identified in the 2000 Census as areas in California where 70 percent of the families who live there earn an income that is 80 percent or less than the statewide median income or deemed as economically distressed areas. Thirty-three of California’s 58 counties have targeted areas - with Los Angeles having almost half. 

Federally-Designated Targeted Areas in California

Advantages to purchasing a home in one of California’s Target Area:

1. NO First-Time Homebuyer Requirement – Most of CalHFA’s programs require the borrower be a first-time homebuyer.  When the home being purchased is located in a Targeted Area, that requirement does not apply.
2. Income Limits are Higher – The maximum allowable income is higher in Targeted Areas to expand homeownership opportunities to more borrowers.
3. Sales Price Limits are Higher – In Targeted Areas, the limit on the price you pay for the home is raised to create a larger pool of available properties.

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Listen - you have absolutely nothing to lose by checking this out. This is exactly the sort of information I was desperate to discover myself  - and that it’s available to you thru CalHFA, you have a opportunity very few buyers and sellers in the Los Angeles / Orange County / Inland Empire and San Diego will even know about.

Lets connect and schedule the time to see how this program can you help you!  Feel free to contact me anytime Ric Dizon, iMortgage Long Beach (714)396-6829.