Housing

New Units

Coventry Court

The Coventry Court Apartments for Active Seniors, ages 55+, has been approved for future development as a rental project in the Columbus Square section of Tustin Legacy, the former Marine Corps Air Station. Individuals interested in Coventry Court are asked to contact Shaun Bradley of Meta Housing Corporation at (310) 575-3543 ext. 118 or sbradley@metahousing.com.

Resale Affordable Units

The goal of the City and the Redevelopment Agency is to develop, conserve and maintain the City’s housing supply, including provision and maintenance of affordable housing.  At the current time, the City of Tustin has restrictions on over 300 affordable ownership units throughout Tustin.  From time to time, these units become available for sale.  The City does not maintain a waiting list for those interested in purchasing resale affordable units; therefore, it is the responsibility of the current owner to locate a qualified buyer.  However, the City does maintain a list of all affordable units for sale.  To obtain a copy of the current list, click here.

Affordable Housing Ownership Programs Fact Sheets

Buyers

Lenders

Preferred Lenders List

The City maintains a list of lenders that are familiar with the City’s affordable housing programs.  To obtain a list of lenders for the City of Tustin’s affordable housing programs, click here. This is not an endorsement for any of the lenders. You may use a lender of your choice.

First Time Homebuyer Program

At this time, the City of Tustin does not offer the First Time Homebuyer Program.

Subordination Requirements

Participants in the City’s Affordable Housing Programs are allowed to refinance their first mortgage as long as certain requirements are met. Click here for Refinancing Requirements.

Mortgage Credit Certificate Program

What is the Mortgage Credit Certificate (MCC) Program?
The MCC Program reduces the federal income taxes paid by first time homebuyers.  Eligible first time homebuyers receive a tax credit, reducing the amount of their federal income tax by 15% of the annual interest they pay on their mortgage.  Program participants have the option to utilize their tax credit immediately and reduce the current amount of federal income tax withheld from their wages.  The tax credit may also assist in qualifying for a home loan.

How does a homebuyer qualify for the MCC Program?

There are three basic qualifications for program participants:

Additional details regarding qualifying for the MCC Program can be found by visiting the MCC Program Administrator National Homebuyers Fund, Inc.’s website at www.nhfloan.org, calling (866) 643-4968, or e-mailing questions to info@nhfloan.org.

When should the homebuyer apply?
Apply after you have signed a purchase agreement to buy a house, or have entered escrow.  The lender must be a MCC approved lender.

Where do interested first time homebuyers apply?
National Homebuyers Fund, Inc. is administering the program for the County of Orange.  For more information, please visit their website, call (866) 643-4968, or e-mail questions to info@nhfloan.org.

Please contact Agency staff for additional information, click here to send us an email.