Grants, Seminars Aid 1st-Time Home Buyers

First-time home buyers will have a chance to win $2,000 toward the purchase of a home through a program run by the San Fernando Valley Assn. of Realtors.

To become eligible for one of 10 $2,000 grants being offered by the association, buyers must complete a free three-part informational seminar to be given on three Tuesday evenings in May.

“These community service seminars offer a unique opportunity for prospective buyers to learn the entire process before they actually enter the market,” said Mel Wilson, association president. “And, the cash grants, funded by the Realtors’ nonprofit foundation, can hold out-of-pocket expenses to a minimum.”

Among the topics to be covered at the seminars are how prospective buyers can improve their credit histories, how to qualify for loans, tips on selecting a real estate agent and the intricacies of modern contracts.

Millie Jones, public affairs director for the association, said the counseling seminars serve two purposes.

“We’re trying to educate renters and low-income families about the different types of financial assistance available out there,” she said. “We also want to stimulate the housing market in the area where our members work.”

The first two seminars in the series, on Tuesday and May 13, will comprise the informational portion of the program, Jones said. The third seminar, on May 27, will be an awards ceremony where the winning names will be drawn. All three seminars will begin at 7 p.m. Realtors and lenders from the association will be available for free private consultations between 5 and 6:30 p.m.

Program participants must be able to match the $2,000 grant with their own funds and occupy the property they purchase. The property must be located in the San Fernando or Santa Clarita valleys, and buyers cannot have owned real estate in the past three years, officials said.

The seminars will be held in the association auditorium, 7232 Balboa Blvd., Van Nuys.

For information or to register, call the association at (818) 786-2110, Ext. 680.