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State Treasurer to Highlight First Teacher Home Purchase in Orange County
 | HOUSING and COMMUNITY SERVICES AGENCY
| FOR PLANNING PURPOSES: PR-0104
PR CONTACT:
Julia Bidwell 714.480.2991
Ken Domer 714.480.2990
February 16, 2001 |
State Treasurer to Highlight First Teacher Home Purchase in Orange County Teacher Homecoming Event Celebrates Santa Ana Home Purchase by Teacher Through Extra Credit Teacher Home Purchase Program (Santa Ana, CA)- California State Treasurer, Phil Angelides, will join local dignitaries in celebrating the first Orange County home purchase through the Extra Credit Teacher Home Purchase Program administered by the County of Orange, Housing and Community Development Department (H&CD) and the CEO/Public Finance office. The event will take place at the home of the teacher and is an opportunity to celebrate the Program’s success as the teacher’s family moves into their new home. The Program provides a reduced 30-year fixed rate mortgage and $7,500 in downpayment assistance for qualified homes throughout Orange County. Eligible educators must commit to serve for five years in designated low-performing schools according to the State Academic Performance Index (API). The Extra Credit Teacher Home Purchase Program was created by the State of California and funds were awarded to the Counties of Orange and Los Angeles through the Southern California Home Financing Authority. Eligible educators’ incomes must not exceed $71,665 for a one- to two-person household and $82,414 for a household of three or more persons. The 30-year fixed rate mortgage is 7.2 percent with a first year buydown rate to 6.2 percent. The downpayment assistance can be used for non-recurring closing costs. WHAT: Teacher Homecoming Event First Teacher Home Move-in Through Extra Credit Teacher Home Purchase Program WHEN: February 23, 2001 2:30 P.M. to 3:30 P.M. WHERE: Residence of Mr. & Mrs. Benavides 637 South Daisy Street Santa Ana, California WHO: The Honorable Phil Angelides, California State Treasurer Paula Burrier-Lund, H&CD Director County of Orange, Board of Supervisors Other Local and School Elected Officials Paula Burrier-Lund, Director County of Orange, Housing and Community Development Department
1770 North Broadway, Santa Ana, CA 92706 · (714) 480-2900 · www.ochousing.org
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