Laguna Woods Financial Requirements

In Laguna Woods Village there are three types of residences: Co-ops, Condos and The Towers. Each type of residence is managed by a different housing corporation with its own regulations requiring the financial requirements of prospective buyers.

United Mutual (Co-ops)

Asset Requirement:
The prospective buyer of a manor shall submit satisfactory verifications of assets equal to the purchase price of the manor plus $125,000, must be aged accounts of 180 days.

Income Requirements:
Prospective members must provide satisfactory verification of income of at least $40,000 per year at the time of purchase.

Third Mutual (Condos)

Net Worth Requirement:
The prospective buyer of a manor shall submit satisfactory verification of net worth equal to the purchase price of the manor plus $125,000.

Income Requirement:
Prospective members must provide satisfactory verification of income of at least the sum total of the annual mortgage payment on the manor plus $45,000 per year at the time of purchase.

Guarantors:
The Mutual will permit the buyer who does not meet the financial requirements to have a Guarantor. The guarantor in Third Mutual shall provide satisfactory verification of annual income of at least $80,000, and provide verification of net worth equal to the purchase price of the manor plus $200,000. The prospective transferee shall submit satisfactory verification of a least $125,000 of net worth.