What documentation will I have to provide with my application?

2017-01-14T14:37:56-08:00January 14th, 2017|

You will need to provide copies of the most recent three years’ federal income tax returns as well as any corresponding W2’s and 1099’s, household information, current and previous employer information, and asset and liability information, including bank account statements. […]

Where can I find more information?

2017-01-14T14:36:53-08:00January 14th, 2017|

For more information, please read our Program Guidelines for the jurisdiction that you are interest in (Town, County, or Bishop) located on the “Buy a Home” page of our website.

What is down payment assistance?

2017-01-14T14:36:24-08:00January 14th, 2017|

MLH offers multiple types of down payment assistance in the Town of Mammoth Lakes, unincorporated Mono County, and the City of Bishop when grant funds are available. Most of these grant programs work as a deferred-payment junior loans at 0-3% […]

What is a deed restriction?

2017-01-14T14:35:56-08:00January 14th, 2017|

A deed restriction is a use and resale agreement between the buyer and MLH. Among other things, a deed/resale restriction regulates the maximum resale value to a below market rate, thereby providing locals with another real estate option. A homebuyer […]

How do I get a loan for a Purchasable Unit?

2017-01-14T14:35:27-08:00January 14th, 2017|

MLH is not a lender nor does it work exclusively with one lender. MLH does encourage applicants to talk with local banks and mortgage lenders rather than using an internet search, since local lenders have excellent knowledge of the Mammoth […]

How much will it cost to buy a home?

2017-01-14T14:34:47-08:00January 14th, 2017|

Purchase prices are based upon a household’s annual income. Generally, a household can expect to pay between 30% and 38% of their gross household income on housing expenses such as mortgage payment, utilities, HOA dues, etc. To determine how much […]

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