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Program: Clackamas Homebuyer Assistance Program

Detail Verified 6/1/2018 - Last Updated 4/10/2018

Program Overview

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.

HUD Median Income Limits: 80%

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 Details

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

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