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First-Time Homebuyers Programs
 
Qualified Lake Elsinore homebuyers are eligible for a First-Time Homebuyer Program through the County of Riverside EDA, as well as assistance through the California Housing Finance Agency’s First-Time Homebuyer Program. Additionally, the County offers a Mortgage Credit Certificate Program to eligible Lake Elsinore homebuyers. Through the Mortgage Credit Certificate Program, qualified low-income homebuyers can receive a federal income tax credit equal to 15 percent of the interest paid on their primary mortgage—the remaining 85% of the interest can be taken by the homebuyer as a tax deduction.


Home Rehabilitation Programs

Qualified Lake Elsinore homeowners are eligible for the EDA Home Repair Program through the County of Riverside EDA, as well as the EDA Home Rehabilitation Program. The Home Repair Program offers qualified Lake Elsinore homeowners up to $6,000 in grant funding for eligible home repairs, whereas the Home Rehabilitation Program offers up to $20,000 for eligible home repairs.


Affordable Housing Opportunities

The City of Lake Elsinore prides itself in helping provide affordable housing opportunities to area residents, which often helps increase discretionary income for area families while supporting economic development for the City and fulfilling inclusionary requirements for the City. The developments listed below may or may not have vacancies in the units with subsidized or reduced rents; however, the development may have a waiting list on which you may wish to place your name. The City of Lake Elsinore does not manage or own any of the developments listed on this page, but this list is provided as a courtesy to those that are seeking affordable housing. While the list is intended to provide an accurate presentation of affordable housing opportunities in the City of Lake Elsinore, the list may not reflect current opportunities. Two housing developments that offer a portion of their units with affordability restrictions from the City of Lake Elsinore include the following:

Broadstone River’s Edge Apartments
2088 Lakeshore Dr.
Lake Elsinore, CA 92530
866-375-1653

North Lake Apartments
15195 Lincoln St.
Lake Elsinore, CA 92530
(951) 245-0338

Pottery Court Apartments
300 N. Riley St.
Lake Elsinore, CA 92530
951-326-8030

The units listed below are other housing projects in the City of Lake Elsinore that may have at least some units that have reduced rents for low-income residents:

Parkside Apartments
442 N. Kellogg St
Lake Elsinore, CA
951-674-6413

Lakeview Apartments
32209 Riverside Dr.
Lake Elsinore, CA
951-674-6004

Villa Siena
31300 Auto Center Drive
Lake Elsinore, CA
951-245-3444

Last updated: 11/29/2012 1:15:54 PM