Program: Clackamas Homebuyer Assistance Program
Detail Verified 4/10/2018 - Last Updated 4/10/2018
Clackamas Homebuyer Assistance Program is a zero-percent interest deferred-payment loan for up to $14,000 to help qualified first-time homebuyers pay for down payment and reasonable closing costs.
Who is Eligible for this Program?
A first-time homebuyer who has completed an approved homebuyer training class and has been approved for primary financing through an Oregon-licensed lender.
Eligible applicants must meet the HUD definition of a “first-time homebuyer”, meet income limits and demonstrate a financial need.
A "Qualified Borrower" must have sufficient income to qualify for and support the primary debt, be pre-qualified by a primary lender (contract sales are not allowed), have good credit and able to contribute $1,000 in cash toward the purchase from their own funds.
Up to $14,000 for down payment or closing cost.
Is this program for first time buyers only?: Yes
Property Eligibility Requirements
Property must be located in Clackamas County, Oregon
The sales price cannot exceed $335,000.
Allowable property types: Single family housing that meets property standards and passes inspection.
Benefit: Provides up to $14,000 to help qualified first-time homebuyers pay for down payment and reasonable closing costs with zero-percent interest deferred-payment loans.
Homebuyer Counseling / Education Required: Yes
Owner Occupancy Required: Yes