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Three Lompoc Families Find ‘There’s No Place Like Home for Holidays’

Three Lompoc Families Find ‘There’s No Place Like Home for Holidays’

Three Lompoc Families Find ‘There’s No Place Like Home for Holidays’

City's Homebuyer Assistance Program makes homeownership a reality.

The Reardon Family finally has a place to call its own. (City of Lompoc)

Three Lompoc families are coming home to new houses in time for the holidays, with the assistance of the city of Lompoc Homebuyer Assistance Program (HAP).

The three Lompoc families participating in the HAP have closed escrow or are closing escrow on their new homes this month, and a fourth family is expected to close escrow next month. The homes were purchased with the assistance of Maria Aguiniga of Santa Rita Realty and Katy Cope of Central Coast Realty Group.

Lompoc launched its HAP in August 2016, offering 30-year deferred payment loans up to $50,000 to assist qualified homebuyers in purchasing entry-level homes in Lompoc.

The program, run in conjunction with Peoples’ Self-Help Housing and the Housing Trust Fund of Santa Barbara County, requires no payments on the loans until the home is sold, refinanced, no longer occupied by the owner, or in 30 years, whichever occurs first. Interest accrues at 3 percent. Funding is available for 20 loans as part of the HAP.

Among the new homeowners is the Reardon family. Scott Reardon, owner of Scott Reardon’s Locksmith Service in Lompoc, and his wife, Sharon Reardon, along with their children and grandchildren, are in the process of moving into a house on North Second Street.

The family has moved about seven times in 15 years to various rental properties, and are thrilled to finally have a place to call their own. Sharon Reardon said the HAP enabled the family to buy their own house for the first time, a reality that is still sinking in.

“When they said we closed escrow, I kept thinking something was going to go wrong. But there was no problem, and owning our home is exciting. I can’t wait to get everything finished and paint,” she said.

Christie Alarcon, Lompoc Community Development Program manager, said she is happy the HAP is helping community members become homeowners for the holidays.

“What a wonderful gift that three families are able to come home to their very own house this holiday season, thanks to our Homebuyer Assistance Program,” Alarcon said. “This program is helping Lompoc residents achieve a dream that many have had for decades, and we are so pleased with this program’s success.”

— Samantha Scroggin for the city of Lompoc.