Financial Information

Laguna Woods Village, Laguna Woods
Two types of home ownership exist within the gates of Laguna Woods ,
cooperatives and condominiums. Benefits and services are specific to the individual ownership type. The Mutual Associations which control these individual types have established their own financial requirements that must be met by the buyer prior to close of escrow.

Ownership Requirements

Age:

One resident must be 55 years of age or older. The spouse may be 45.

Financial:

Annual income of at least:                Cooperatives              Condominiums

             Per Household:                     $36,000                       $42,000

Asset requirement*: Cooperatives: Assets equal to the total purchase price of the manor plus $125,000 in liquid, marketable or income producing assets. The Mutual may wave financial requirements if more that 50% of the cost is financed through a third party bank.

                                    Condominiums: Assets equal to the total purchase price of the manor plus $125,000 in liquid, marketable or income producing assets.

* Asset requirement variations should be discussed with agent

Monthly Fees

Cooperative - Approximately $528.00 is the basic monthly Homeowner Association fee.
Each manor must be individually computed for the total monthly association fee including property
taxes.
The basic fee includes:

1. Principle and interest on FHA loan, if any remaining

2. Property taxes

3. Building insurance (fire and damage)

4. Cable television     

5. Water         

6. Trash pickup

7. Exterior building maintenance (ie.painting and roof care)

8. Grounds maintenance

9. Appliance repair and replacement

Resident pays electricity and phone.

Condominium - $553.00 per month, includes

1. Building insurance (fire and damage)

2. Cable television     

3. Water

4. Trash pickup

5. Exterior building maintenance (ie. painting and roof care)

6. Grounds maintenance

Resident pays electricity, phone and property taxes.

Laguna Woods' monthly fees give you access to $25,000,000 worth of amenities, including 24-hour security and patrol, bus service throughout the community and to nearby commercial services such as markets, restaurants, Saddleback Medical Complex, the Laguna Hills Mall, as well as churches of every denomination.