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In a nationwide survey of about 24,000 renters, Apartment List found that 80 percent of millennial renters want to purchase a house or condo. Saving for a down payment can delay these buyers for a median of three years, and some buyers for up to a decade. The misconception held by many renters that a […]

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New Homebuyer Program Added

Freddie Mac’s new loan program, HomeOne, offers a low 3% down payment option that serves the needs of first-time homebuyers, along with no cash-out refinance borrowers. The program has no borrower geographic or income limits and includes cancellable mortgage insurance after certain requirements are met. For more information click here.

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According to AARP, 90% of seniors indicate they would prefer to age in place, however, the costs for home modifications allowing older adults to remain in their homes can add up quickly and be cost prohibitive for lower-income individuals and families. Fortunately, there are a number of non-profit organizations that provide critical home repairs, modifications, […]

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For those looking to buy a home in need of rehabilitation, repair or remodeling, there are a number of loan options available. The Portland Housing Bureau Home Repair Loan offers a 0% interest loan of up to $40,000 for critical repairs and is available to those purchasing in the Interstate Corridor and Lents Town Center […]

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Program Updates

Both the maximum sales price and income limits have increased for the Portland Mortgage Credit Certificate. The maximum sales price is now $454,177. The annual borrower and co-borrower income limits are now $81,400 for one to two people and $93,610 for three or more people. Additionally, the maximum sales price for Gresham’s WELCOME HOME program […]

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Did you know…

Technology has become an inseparable part of the homebuying process, according to the 2018 Bank of America Homebuyer Insights Report. Americans are using digital technology for everything from applying for a mortgage to touring a home online. A staggering 98% of first-time buyers reported using technology while researching a home purchase, and 94% report that […]

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Did you know…

As of January 1, 2018, all sellers of single-family homes within Portland city limits must obtain a Home Energy Report. The cost of an assessment ($150 to $250) might be prohibitive for lower-income families, however, the Portland Office of Planning and Sustainability does offer an application for a free home energy assessment for Income-qualified home […]

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The 2018 NAR Home Buyers and Sellers Generational Trends Report found that Millennials, the largest group of home buyers, are more likely to purchase in suburban locations. For first-time buyers looking to purchase in Portland’s suburbs, both Gresham and Clackamas County offer programs for down payment assistance. Gresham’s WELCOME HOME program offers up to $20,000 […]

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Program Update

The maximum purchase price for the Clackamas Homebuyer Assistance Program has increased to $335,000. For more information visit: Clackamas Homebuyer Assistance Program

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Did you know…

  In 1989 Northeast Portland’s Union Avenue was renamed Martin Luther King Jr. Boulevard. Today the street runs through the eastern boundary of Portland’s largest Urban Renewal Area. Covering 3,990 acres, the Interstate Corridor URA includes a diverse collection of historic communities in North and Northeast Portland. Creating housing opportunities for a range of incomes […]

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