Los Angeles County - News from Oct. 24, 1994
Home Loan Program: The city of Los Angeles and the mortgage banking unit of Pittsburgh-based PNC Bank Corp. are set to announce a program Thursday aimed at overcoming traditional barriers to home ownership in South-Central Los Angeles: the lack of down payments and the inability to qualify for mortgages. PNC Mortgage, which plans to open an office in South-Central, will offer a new mortgage product for consumers who do not meet traditional credit requirements, as well as loans that require only a 3% down payment.
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