Have you heard of the Oregon Bond Program?
Created to help first time home buyers get into properties at affordable prices, The Oregon Housing and Community Services Residential Loan Program (a mouthful, I know) offers below market rate loans to qualifying buyers.
Want to know if you can get in on this action? Qualifications below.
1.) You must be a first time home buyer or have not owned a home in the past 3 years to qualify
2.) You must occupy the home
3.) Your household income must be below the application limit
4.) No duplexes or ADUs are eligible for purchase
5.) Your purchase price must be below the application limit
6.) You can’t own other residential property at the time of closing
7.) You can’t use more than 15% of the area for business purposes
Download the pdf here: WM_OregonBond
Seems simple enough, right? I am certain there are many people who could utilize this program and unfortunately do not. Are you thinking of buying a home in the future? Meet with a lender ahead of time to talk about your options and what to plan for. I’m always happy to connect you with a qualified mortgage expert in your area- just say the word!
*The informational sheet provided today is courtesy of Julee Felsman, lender with Equity Home Mortgage*